ProductsLoansSIB Flexi Loan


Flexi loans can be extended to residents and non-residents. Flexi loans can be extended only in the form of Term Loans. 

The quantum of loan will be based on the annual income and repayment capacity of the borrower , security offered etc, unlike the case of project / industry loans , where finance is granted on the strength of the project / activity chosen. 
Target Group
High Net worth individuals ( single/joint) 
Purpose of the loan
Purpose of the loan should be specified in the application form and sanction order . Purpose should not be for hoarding, speculation or activity restricted by GOI or State Governments or local bodies. 
In the case of NRIs , loan shall not be granted for the purpose of investment in non- banking business or in Agriculture or Plantation or Real Estate business or construction of Farm House or for trading in Transferable Development Rights (TDRs). Branches to obtain an undertaking also to this effect from the NRI borrowers. 
Quantum of loan 
 Minimum : Rs.2.50 lacs 
·         Against prime urban property - Rs.1500.00 lacs
·         Against non-urban residential property : Rs.1500.00 lacs
Value of security
·         Prime urban property (residential/non-residential) or Non- urban residential property : value at least 200% of the loan amount. 
·         Paddy fields, unfilled barren fields etc will not be accepted. In the case of residents, the property offered as security should be in the name of applicant, spouse or their parents. In the case of NRIs, the property should be in the name of NRI or if applied jointly, either in the name of the NRI or such joint applicant. If the loan is applied for in the name of the close relative of the NRI, the property should be in the name of such borrower.
Rate of Interest 
Upfront Fee 
One-time Upfront fee 0.50% of the loan amount irrespective of the quantum of loan.
Mode of disbursement
by credit to the borrowers SB/CD/NRO account 
Repayment Period
        i.    Minimum 6 months;
       ii.    Maximum 120 Months through EMIs.
      iii.    If the loan is to be closed within 6   months from the date of advance, interest applicable for full 6 months to be collected.
     iv.     For loans up to and including Rs.100 Lacs with maturity period up to12 months, bullet repayment can be fixed.
Penal Interest 
2% p.a. for the defaulted amount for the defaulted period. 
Other terms & conditions
a) In the case of married persons, spouse also should join the documents. 
b) Loan should not be granted to liquidate an existing liabilty of the borrower.
*All loans are subject to the discretion of the bank and subject to such conditions as may be stipulated by the Bank. Interest rates are subject to change without notice
The scheme details are furnished in brief only. For more details please contact any of the branches near you . Click here for Branch Network