SIB Mortgage Loan

Variants of the Loan
  1. Overdraft
  2. Dropline Overdraft
  3. Term Loan
  • Any business purpose
  • Balance Transfer of Existing limits/loans with other banks
  • Consolidation of debt
  • Individual /HUF ( Proof of the business to be submitted )
  • Proprietorship concern & Partnership firm
  • LLP
  • Private & Public Limited Companies
  • Trust & Society
21 years
  • Maximum
  • 70 years (Self-employed )
  • 75 years (Property owner & Income not considered)

Maximum Age at the time of Loan maturity

5.00 lacs

3.00 crores


For Overdraft: 36 months. Limit to be renewed within 36 months to continue thereafter.

For other variants:

Minimum – 3 years

12 years
Interest rate
  • Only residential (residential properties) located in Corporation or Municipality shall be accepted
  • Panchayat residential plot situated in prime location can be accepted , if total extent is below 30 cents
  • Spouse of property owner is to join as guarantor.
  • Wherever a second signatory is not available, one guarantor is to be obtained from the applicant’s close relatives.
Processing fees

From 1.00% to 2.00 % of loan amount (Minimum Rs 10000.00 +GST)

Penal Interest

2.00% p.a. for the defaulted amount for the defaulted period

Prepayment / Pre-closure charges
As per extant guidelines

List Of  Documents Required With Respect To The Purpose Of Loan

Business Class

KYC Docs (PAN Card and Aadhar Card and Photographs)

ITR for the two years with computation sheet
Recent financials
Account Statement for 6 months.

Title deeds, Possession Certificate, Encumbrance certificate, location certificate and sketch Tax Paid Receipts