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How to get loan from South Indian Bank (SIB)? Documents, eligibility and interest rate for loan from SIB

South Indian Bank (SIB) is a private sector bank headquartered in Thrissur, Kerala. South Indian Bank has around 924 branches across the country, through which it provides various types of banking services to the people. Apart from opening various types of bank accounts, you can also take loans from banks to meet your needs.

The bank offers an interest rate concession of 0.1% to women customers for taking loans from South Indian Bank. If you are also thinking of taking a loan from South Indian Bank, then how to get a loan from South Indian Bank (SIB)? Along with providing this relevant information, here you are being told in detail about the documentation, eligibility and interest rate for a loan from SIB.

South Indian Bank Personal Loan Types

South Indian Bank offers various types of loans as per the needs of its customers, the details of which are as follows –

  • Personal Loans
  • Car loan
  • Home Loan
  • Gold Loan
  • Education Loans
  • Property Loans
  • Commercial Vehicle Loan (SIB Commercial Vehicle Loan)
  • SIB Rent Loan Schemes
  • Sib Pharma Plus
  • OTS Scheme for MSE

South Indian Bank Personal Loan Information

Personal Loan and Group Personal Loan are two types of personal loans offered by South Indian Bank. These loans are divided based on the loan amount. As per your requirement, you can take a loan of up to 1 crore rupees from the bank for 5 years. The bank also provides group personal loans to permanent employees of public undertakings, reputed institutions etc. apart from employees of central and state governments.

South Indian Bank Personal Loan Interest Rate (South Indian Bank Personal Loan Eligibility)

South Indian Bank offers loans at 10.15% per annum to individuals and 9.95% per annum to groups. Apart from this, 2% processing fee is also charged on the total loan amount.

South Indian Bank Personal Loan Features

Loan Amount – You can get a loan under the SIB Personal Loan Scheme from Rs.1 lakh to a maximum of Rs.10 lakh. The minimum amount you can get a Group Personal Loan is Rs. 50,000 is. You will pay Rs. can take loan from

Interest Rate – The interest rate for SIB Personal Loan ranges from 10.25% to 14.15% p.a. and 10.25% to 10.45% p.a. for group personal loans. varies up to

Tenure – You can repay the loan amount with interest in a period of minimum 12 months and maximum 48 to 60 months. Whereas for group personal loans this period can be up to 5 years.

Prepayment – 4% if made within 1 year and 2% if made after 1 year with 2% penalty for prepayment or partial payment.

South Indian Bank Personal Loan Documents

Some of the necessary documents required for taking a personal loan from a bank are as follows –

  • Identity Proof
  • PAN card
  • aadhar card
  • Passport
  • Address Proof
  • Documents like Passport, Aadhaar Card, Memorandum of Association, Partnership Deed etc.
  • Income Proof
  • Documents related to proof of applicant’s income depending on the applicant’s category.
  • Salaried Person
  • Income proof like ITR
  • Form 16
  • Salary Slip/Salary Certificate.
  • Self Employed Person
  • ITR of last 2 years.
  • For the last 2 years A.F.S.
  • Financial statement.
  • NRI
  • A valid passport and visa must be submitted.
  • Pay slip.

How to Apply Online Personal Loan from South Indian Bank (How to Apply Online Personal Loan from SIB)

To avail online personal loan from South Indian Bank, click on its official website or you can apply directly by clicking on this link.
Now the home page will open in front of you, here you have to click on loan under personal banking.
Now a new page will open, here you have to click on Personal Loan and now click on Apply.

Now application form will open in front of you, here you have to enter information like customer name, address, phone number etc. and click on submit.

Now you will see a message, giving your reference number and stating that your inquiry has been received, you will be contacted shortly.

After some time you will get a call from the bank and you will be informed about the further process for taking the loan.

South Indian Bank Customer Care

You can contact South Indian Bank customer care through any of the following channels:

By phone – You can call the bank’s 24×7 toll-free number 1800-425-1809 or 1800-102-9408. NRIs can call (+91)484-2388-555.

Email – You can send an email to

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