South Indian Bank Personal Loan

South Indian Bank Personal Loan - http://www.loansandcredits.in/south-indian-bank-personal-loan/
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Apply Personal Loan


Apply Personal Loan :- Loan amount from Rs.1 lakh up to Rs.20 lakhs Convenient loan repayment option of 12 to 60 months No security or collateral required to avail this loan Simplified and quick documentation Attractive interest rates Hassle-free loan sanction and disbursal procedure[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width="1/2"][contact-form-7 id="3299" title="PL-loansandcredits.in"][/vc_column][vc_column width="1/2"][vc_column_text]

 

South Indian Bank Personal Loan


Purpose


  • Personal Use (Education, Medical, Travel, Asset Purchase, Debt consolidation etc)

  • Business Use (Working capital, Capex margin, quasi-capital, debt consolidation etc)

Target Customers


  • 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.

Age







Minimum

21 Years

Maximum

65 Years

Amount







Minimum

Rs 1.00 lacs

Maximum

Rs 25.00 lacs

Tenure







Minimum

12 months

Maximum

60 months

Interest rate


  • Attractive interest rate from MCLR (1 Year)+ 2.20%

  • Concession of 0.1% on eligible rates are offered to women borrowers

Eligibility


  • Minimum Bureau Score of 650 for applicant/ Co-applicant Rs. 10,000 pm Gross income ( without clubbing of income of co-borrower/guarantor) supported by ITR/Form 16/16A/Banking

  • Minimum 2 years of total employment with minimum 1 year in current employment

  • Percentage of Net take home pay after considering all repayment obligations including proposed loan reduces with increase in monthly income.

  • For Monthly income above Rs.1 lac net take home pay required is just 30%.

  • Monthly average balance computed on specific dates for a year to be at least 1.25 times proposed EMI

  • For NRI’s- Based on average monthly remittance to own NRE account or to any resident account of spouse during last 12 month excluding bulk remittances

  • Minimum 3 years of business vintage

  • One year in current residence if rented

  • No stability requirement if own/parental house

  • For NRI’s, one local coapplicant required (Earning/Non earning)

Features


  • No security ,no collateral

  • Option for co- applicant available

  • Maximum 3 unsecured loans running including the proposed one (loans with 6 months residual tenure may be excluded).

Processing fees


2% of the loan amount.

Prepayment charges


prepayment /part payment penalty of 4% within 1 year else after 1 year it is 2%.


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