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Purpose
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For purchase of household articles, White Goods, Electronic items, expenses to be incurred on furnishing, modular kitchen, furniture etc. or a combination of these requirements in residential building/ unit.
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Target Customers
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Individuals who are Bank’s HL Borrowers (Domestic/NRI)
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Quantum of Finance
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Minimum
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Rs.0.50 lacs
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Maximum
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Rs.100.00 lacs
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Eligibility
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Simple assessment based on FOIR. Maximum FOIR 60%
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Interest rate
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Security
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- Primary: Hypothecation of assets acquired utilizing the loan.
- Collateral: In the case of existing housing loans, wherever spill over is available after considering prescribed LTV (irrespective of spill over %) the same should be considered towards SIB Décor.
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Margin
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25%
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Repayment Period
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- Maximum 84 months (EMIs) or EMIs less than or equal to remaining tenure of the HL whichever is earlier
- No Holiday Period is allowed.
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Processing fees
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1% of loan amount (Minimum Rs.2000 + GST; Maximum Rs.10000.00 + GST)
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Prepayment / Pre-closure charges
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Nil
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List Of Documents Required With Respect To The Purpose Of Loan
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Estimates/invoices for purchase of household articles, White Goods, Electronic items or expenses to be incurred on furnishing, modular kitchen, furniture etc. or a combination of these.
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