Table of Content
However, German banks have different guidelines when it comes to rating the creditworthiness of applicants for a mortgage. For us to find the best mortgage for you, we need more information about you, your financial situation, and your future plans. With this information, our financing experts can explain your possible options in detail and provide a free personalized mortgage recommendation.

Alterations, renovation, refurbishment maintenance of exiting flat / house. Extension and addition to existing house without any loan limit. Purchase of under construction flat / house in Bank approved Housing Projects. Salary Certificate and employment contract / embassy attested salary certificate. Latest two years personal ITRs supported by Computation sheet, Profit & Loss account and Balance sheet.
Types of South Indian Bank's Home Loans
Depending on the state, this is between 9% and 12% of the purchase price of the property. The amount of equity required cannot be answered in general terms. As the largest platform for buyers and sellers of property to connect in a transparent manner, Magicbricks has an active base of over 15 lakh property listings. The processing fee of the South Indian Bank home loans is minimal. \nWe have already averred that SIB does not extend any special scheme to the high – net – worth individuals and the home loan scheme is endowed with features covering a large target audience. In such a scenario, SIB can only offer the maximum amount that is quoted in the home loan as Rs.1500L.
In that particular location, my property is village panchayat and this bank is offering loan. There was lot of documentation asked, i went to Coimbatore for documentation which is hassle. Interest rate is 10.5% is quite high compared with other banks. Pre payment option is there and they told me there is pre closure and fore closure charges. After entering this data into the German mortgage calculator, we calculate the estimated loan amount, interest rate, and monthly repayment rate. South Indian bank is one of earliest banking institutions in the country which can trace its roots to the Swadeshi Movement of India.
Tentative list of documents required for Home Loan
Self-employed business owners having own business of Trading, manufacturing or service providers. You can then visit the page of loans and click on the home loan. The property for repurchase should not be older than 20 years. The applicant must have an account with South Indian Bank in order to apply for a home loan. This scheme is for meeting the costs of replacing the aforementioned things. Here’s the example – Rs.20 Lakh Home loan @ 9.60% rate of interest for 20 years.
Although our personal/financial situation was less than ideal, Başar was able to secure us an extremely favourable loan. I really doubt another broker could have done as well." Together with our team of experienced brokers, you will understand the nuances of your situation and fine-tune your mortgage decision.
South Indian Bank Home Loan Repayment
The interest rate which they where offering has been nominal when compared with the market rate and there has not been any additional charges which they had made so far. Once the mortgage lender has received the required payment order documents, they will pay out the loan. This annuity payment consists of both interest and principal repayment. The composition of interest and repayment changes slightly with each month. This is because each repayment reduces the remaining loan balance.
Like every other bank South Indian Bank also has set certain guidelines for eligibility check. The amounts LTV do South Indian Bank finance on add up to cost of home? South Indian Bank loans not as much as the aggregate cost of the house. South Indian Bank gives greatest 90% for Home Loan contingent on loan sum. PaisaBazaar offers EMI mini-computer for the accommodation of its candidate.
Disbursal of the loan as per terms, subject to your compliance of the margin amount. Spouse or employed children can be co-applicants but the co-applicants should have a stable income. Reimbursement of Expenses acquired for a private house.

Existing customers and takeover accounts are eligible for a top-up loan of up to 20% of the home loan sanctioned, or Rs. 25 lakhs, but their track record must be strong. However, in the case of NRI, you have to comply with the rules set by the RBI from time to time and also the regulations of FERA. As we have seen, SIB home loans, straddle a wide canvas and this is where every possibility is factored in. As we are discussing the cost of capital, it is imperative to have an idea about the applicable fees and charges, some of which are applied upfront impacting your outgo. SIB partners with developers and constructors to verify and approve projects to provide easy and simple loan processing. Yes, you can avail loans for flats under construction wherein the project may be approved by the bank.
With the wide assortment of home loan choices accessible, it is less demanding than at any other time to claim a home. South Indian Bank Home Loan offers home loans for acquiring pads/estates, private plot, development, remodel, a takeover of existing loans, and considerably more. The bank offers alluring financing cost and no furthest farthest point on the loan sum.

Combining this lender know-how with given information and projected information , we evaluate a range of scenarios and outcomes to see how you will fare under different conditions. We discuss the outcomes and logic of the recommendations with you. You are different from the average customer, sometimes a little and sometimes a lot.