Personal BankingLoansPersonal Loan


South Indian Bank understands you and all your needs. Our Personal Loans are a help at any point of time, and what more, it is available at attractive interest rates !


  • Personal Use (Education, Medical, Travel, Asset Purchase, Debt consolidation etc)
  • Business Use (Working capital, Capex margin, quasi-capital, debt consolidation etc)
  • Salaried (Employees of Government, PSU, MNC, Listed companies and reputed
  • Public and Private limited companies only)
  • SENP (Self Employed Non-Professional) Manufacturers, Traders, Wholesalers, Retailers, Service Providers
  • SEP (Self Employed Professionals) Doctors, CA, CS, ICWA, Architects, Engineers.
  • Non Resident Indian
Minimum 21 Years
– 60 years or superannuation age, whichever is earlier (Salaried)
- 65 years (Self Employed)
Minimum Rs 1.00 lacs
Up to Rs 20 lakhs
Minimum 12 months
Maximum Up to 60 months
Interest rate
Minimum Bureau Score Minimum Credit Score: 740
Employment Norms/ Business Vintage
  • Minimum 2 years of total employment with minimum 1 year in current employment
  • Business Vintage : Minimum 3 years
Other norms
  • Rs.25,000 pm Gross income (without clubbing of income of co-borrower/ guarantor)
  • One Co-applicant/guarantor from close relative. In case of NRIs, a resident co-applicant/guarantor required.
Processing fees     Up to 2% of the loan amount.
Pre-payment/Pre-closure charges Pre-payment Charge : 5%

Pre Closure Charge : 5% after 6 months of account opening
6% within 6 months of account opening

EMI/Cheque Bounce charge Rs.750.00+GST
Cheque/ECS swap charges Rs.500.00+GST
Documents needed*
Salaried Business Class – Self Employed Non Professionals Self Employed Professionals Non Resident Indians
Identity Proof Identity Proof Identity Proof Identity Proof
Address Proof Address Proof Address Proof Address Proof
Passport Size Photo Passport Size Photo Passport Size Photo Passport Size Photo
Latest 3 months pay slips Latest 2 years Tax returns Latest 2 years Tax returns Valid Passport and VISA
Latest Form 16/ITR Valid Business Proof Valid registration proof and professional certificate 12 months NRE account statement
Latest 6 months Bank statement showing Salary Credits Latest 6 months Bank statements Latest 6 months Bank Statements

12 months NRE account statement/spouse domestic account statement reflecting NRE remittance/overseas bank statement

*Any other documents as required by the Bank for Credit Decision


1.    How can I apply for personal loan?

Applying for a personal loan through South Indian Bank is quick and hassle free. If you are an existing client of South Indian Bank you can avail Pre-approved SIB Personal Loan through SIB Mirror+ app/SIBerNet or apply for Personal Loan through our SIB Website > Personal Banking > Loans > Personal Loan > Apply Online Personal Loan or can enquire through SIB Website/SIB Mirror+ app or by visiting the nearest branch.

If you are a new client, then you can open an account with South Indian Bank through online Video KYC for hassle free loan disbursal through digital documentation.

2.    What is the lowest rate of interest available for personal loan?

The lowest rate of interest for a personal loan can vary widely between banks, depending on factors like your credit score, income, the loan amount, and the tenure. At South Indian Bank, the interest rate for personal loans starts from 12.91%.

3.    What are the documents required for applying a personal loan?

For applying for a personal loan at South Indian Bank, the required documents include identity proof, address proof, a passport-size photo, last three months' pay slip, latest Form 16/ Latest 2 year ITR and latest 6 month bank statement with salary credits.

Business owners must also provide valid business proof. 

These documents ensure verification of identity, income, and stability, facilitating a smooth personal loan application process.