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South Indian Bank SIB Personal Loan

साउथ इंडियन बैंक पर्सनल लोन

South Indian Bank personal loan for salaried and self-employed individuals up to ₹15 Lakhs.

Max Loan Amount

₹50,000 to ₹15,00,000

Interest Rate

11.75% - 17.00% p.a. (floating RLLR-linked)

Tenure

12 to 60 months

Processing Fee

1.00% of loan amount + GST (Min ₹1,000)

✦ What It Is: Product Architecture & Regulatory Scope

South Indian Bank's multi-purpose personal credit facility for salaried individuals, professionals, and business owners.

What is Missing: Honest MITC Policy Gaps, Hidden Clauses & Extra Charges

Eligo consumer protection notice: Bank brochures, DSA telecallers, and comparison portals rarely disclose these conditions. Read carefully before signing.

• Employer salary mandate or check-off required for salaried applicants. • Minimum 2 years of ITRs required for self-employed applicants. • Prepayment penalty of 2% applies if closed within the first 12 months.

✦ Key Benefits & Features

• High loan quantum up to ₹15 Lakhs without collateral • Repayment tenure up to 5 years (60 months) • Fast digital in-principle sanction via SIB Mirror+ mobile app • Competitive interest rates tied to Repo Rate.

✦ Prepayment, Part-Payment & Foreclosure Rules

2% prepayment penalty if pre-closed within 12 months; NIL thereafter.

✦ Eligibility Requirements

Salaried employees and self-employed professionals with regular income. Min Age: 21, Max Age: 60. Min Net Monthly Income: ₹20,000. Min CIBIL: 700.

Min Age21 Years

Max Age60 Years

Min Monthly Income₹20,000

Min CIBIL Score700+

✦ Documents Required

• Identity & Address: PAN Card, Aadhaar Card • Financial Proof: Last 3 months payslips, Form 16, or 2 years ITR • Bank Statement: Last 6 months bank statement.

✦ Exact How-To-Apply Process (3 Pathways)

Depending on your current relationship with the bank, select the corresponding application journey:

Pathway A

Existing / Pre-Approved Customers

1. Open SIB Mirror+ App > Loans > Personal Loan. Select amount and e-sign.

Pathway B

New Online Applicant (Fresh Digital)

1. Visit southindianbank.com > Personal Loans. Submit application and upload payslips.

Pathway C

Branch Walk-In Application

1. Visit nearest South Indian Bank branch with payslips and bank statement.

Official Sourcing & MITC Verification

180-Day Re-Verification SLA · Last Verified: 2026-09-28

Eligo does not collect personal loan applications, sell user data to DSA telecallers, or receive affiliate commissions. All terms shown are extracted directly from official bank circulars, Most Important Terms and Conditions (MITC), and Key Fact Statements (KFS) under RBI guidelines.

Visit Official Lender Portal (South Indian Bank Official Portal)View Official MITC / Schedule of Charges RBI Key Fact Statement (KFS) Reference

Frequently Asked Questions on South Indian Bank SIB Personal Loan

What is the maximum loan limit in SIB?

Up to ₹15 Lakhs depending on your income profile and credit score.

Can self-employed professionals apply?

Yes, doctors, CAs, and business owners with at least 2 years ITR are eligible.

What is the processing fee?

1.00% of the loan amount subject to a minimum of ₹1,000 plus GST.