SIB DECOR Scheme - South Indian Bank

For meeting expenditure like purchase of household articles, White Goods, Electronic items, Computer equipments and Peripherals, Expenses to be incurred on Furnishing, modular kitchen, Furniture etc. or a combination of these requirements in new residential building/ unit.

Existing Housing Loan Customers:

Meeting Expenditure for Replacement of the above items, in existing residential building/ unit.

Target Customers

Individuals who are our HL Borrowers (Domestic/NRI)

Applicant’s

Property Owner of the residential property to be the borrower
Spouse (if applicable)/income supporting person to be co-borrower/s or guarantor/s as the case may be

Quantum of Finance

Minimum	Rs 0.50 lacs
Maximum	Rs 100.00 lacs

Eligibility

Minimum Bureau Score of 650 without any adverse remarks.

Security

Primary : Hypothecation of assets acquired utilizing the loan.
Collateral: Security for the loan will be Mortgage of Land and building for which the Home Loan is sanctioned if spill over value is available or Undertaking from all the property owners to the effect that the Housing Loan property secured to us will not be released during the pendency of this loan.

Rate of Interest

To view interest rate click here

Margin

25%

Repayment Period

Maximum 84 months (EMIs) or EMIs less than or equal to remaining tenure of the HL whichever is earlier
No Holiday Period is allowed.

Charges

0.50% of loan amount (Minimum Rs 2000 + GST; Maximum Rs 10000.00 + GST)
No Pre Closure Charges

Documents

Applicable set of documents as the SIB Home Loan