South Indian Bank Personal Loan

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Why us?

Rates as low as 10.99%*
Loans Up to 30 Lacs
Same Day Disbursal
Doorstep Service
Unbiased Experts Advice

About South Indian Bank Personal Loan

South Indian Bank Personal LoanA personal loan is a financial help provided by the commercial banks and NBFCs (Non-Banking Financial Companies) where you can borrow the finances for your requirements at a specific rate of interest. You can use this amount for any of your purposes according to your requirements.

About Personal Loan South Indian Bank

A personal loan comes under the category of unsecured loans, which means that you do not have to pledge any collateral to the bank. This loan can be used for any requirement of the borrower, varying from getting the house renovated to paying off the medical bills. You get quick disbursal of the loan in no time at all.

Why Should You Apply for South Indian Bank Personal Loan?

South Indian Bank is one of the most reputed and trusted banks in the country. It helps you fulfill all your goals by providing the amount you need. The bank offers many easy repayment options to the borrower, who can choose it according to their convenience.

Eligibility for South Indian Bank Personal Loan

There are some eligibility criteria of banks to provide a loan. You will have to qualify the eligibility criteria to avail the loan. Check your eligibility here. Apply online and get a personal loan. Generally, there are two categories of applicants

  1. Salaried

  2. Self-employed

There are different eligibility criteria for both applicants.

Salaried Applicant

  1. The minimum age of the applicant must be 21 years and maximum up to 60 years.
  2. If the borrower is residing in a metropolitan city, then they should have a minimum income of Rs 18,000. And if the person is from a non-metropolitan city, then they should have a minimum salary of Rs 12,000.
  3. The borrower should have a work experience of at least three years, and the salary should come in their account only.
  4. If a person is applying for a personal loan, then he should have a good credit history.
  5. The documentation process is easy; the customers have to submit their bank statement of the last three months and the salary slip of the last six months.

Click to know more about Salaried Applicant

Self-Employed Applicant

  1. If a person is self-employed, then the minimum age of the applicant must be 25 years.
  2. The applicant should have filed the ITR for the last three years.
  3. The credit score of the applicant should be good and no previous debt should be left due.
  4. The ITR which the applicant files should be of at least Rs 2.5 lakhs per annum.
  5. And if the applicant is having a business then, the business should be running from the last three years at least.

Click here to know more – Self-employed Applicant

Documents required for South Indian Bank Personal Loan

Documentation for Personal Loans may vary from borrower to borrower. The bank ensures the repayment capability of the borrower before disbursing the loan. The personal loan documentation is different for salaried and self-employed applicants.

  1. Identity proof (Passport/Id card/voter card/driving license/Aadhar Card) It can be any one of these.
  2. Residence proof (Passport/Id card/voter card/driving license/Ration Card/Aadhar Card) and if the applicant is living in a rented apartment, then they have to submit their rental agreement, electricity bill which has to be in the name of the applicant and on the address of the owner.
  3. The applicant has to submit their PAN card which is an essential document under the KYC norms.
  4. If the applicant is a salaried one, then they have to submit their salary slip of the last three months and the bank statements of the last six months.
  5. And if the applicant is a self-employed then they have to submit the ITR of the last three years and registration of their business should be done.
  6. Two passport size colored photos.



Salary slips of last 3 months & bank statements of the last 6 months

 ITR of 2.5 lac minimum for last 3 years

 Identity Proof: Aadhar Card/Pan Card/Voter Id/ Driving License/ Passport

 Address Proof: Aadhar Card/Pan Card/Voter Id /Passport/Driver License and if the person is living in a rented apartment then rental agreement, electricity & water bill and    owner’s address

 Two colored photographs

PAN Card

Credit score above 700

Interest Rates for South Indian Bank Personal Loan

The interest rate of a South Indian Bank Personal Loan varies from bank to bank. South Indian Bank interest rates vary between 10.75 % – 18% per annum, depending on the profile of the customer.

More About: Interest Rates on Personal Loan

Tenure of South Indian Bank Personal Loan

The tenure of the South Indian Bank Personal Loan is from 1 year to 5 years. It is very flexible, the customer can opt for a tenure of his choice according to his comfort.

 Features of South Indian Bank Personal Loan

  1. South Indian Bank Personal Loan is the best option which will cater to all your personal requirements without any hassle.
  2. The South Indian Bank provides a multipurpose loan. You can use the amount to fulfill any of your personal needs.
  3. No collateral is required for pledging in the South Indian Bank. The bank would not ask you for any collateral or any guarantor.
  4. The documentation is easy and hassle-free.
  5. Besides that, your loan will get approved very easily if you are eligible.
  6. After that, the loan is disbursed within two days if you have all the documents.
  7. Bank provides affordable interest rates.
  8. Flexible loan tenure and simple terms and conditions.

Advantages of Applying a Personal Loan on Dialabank

  1. Firstly, you get proper guidance from the experts, and it is free of cost.
  2. You will get lower rates of interest on the South Indian Bank Personal Loan.
  3. Furthermore, you will get quick approval of your loan and the loan is disbursed in no time at all.
  4. The process is time saving if you apply through dialabank.
  5. You can also compare the personal loan rate of interest with other banks too.

Who Can Not Apply for South Indian Bank Personal Loan?

  1. A person with a bad credit history can’t apply for a South Indian Bank Personal Loan.
  2. After that, if the age of the applicant is less than 21.
  3. If the applicant is unemployed and doesn’t have any rigid source of income, then he can’t apply for a personal loan.

How to Apply for South Indian Bank Personal Loan?

Applying for a personal loan is very simple process. You can easily apply for a personal loan online. Applying online for a personal loan is a very time-saving process.

  1. First of all visit
  2. After that, fill the application form online.
  3. Fill your basic information like your name, your email address, and your contact number.
  4. You will get a call for assistance from our experts.
  5. There are no charges for this information.

About South Indian Bank

SIB (South Indian Bank) is a private sector financial institution with its headquarters at Thrissur City in Kerala state. It is a private bank with almost 756 branches spread across more than 26 states and Union territories of India. It has more than 1000 working ATM’s all over India. Bank serves the customers with so many financial products like loans, insurances, credit cards, and banking. A personal loan is one of them. You can easily get a personal loan online. The process is very simple and hassle-free.


What is the minimum salary to get a personal loan?

To get a personal loan the minimum salary of the applicant should be Rs 18000 per month.

How is interest on personal loan calculated?

To calculate the personal loan interest rate you can use Personal Loan EMI Calculator.

How is EMI on a personal loan calculated?

EMI Formula

E=P.R.(1+r) n/ ((1+r) n-1))


E is EMI

P is Principal Loan Amount

R is the Rate of Interest calculated every month.

Which bank gives the cheapest personal loan in India?

The ROI depends on your income, job profile and many other factors but South Indian bank is one of the best at providing a personal loan at low interest rates.

What are the details of South Indian bank personal loan?

It is one of the best commercial banks for taking any type of loan, as it helps you according to your needs and requirements. It has many special offers for government employees. You can get the loan quickly if you are eligible for the loan.

How to use the loan calculator?

You just have to visit EMI Calculator After that enter the amount of loan, tenure of loan and interest rate. Your EMI will automatically get calculated.

Other leading personal loan providers

Other Personal Loan Providers

HDFC Bank Personal Loan

YES Bank Personal Loan

Allahabad Bank Personal Loan

ICICI Bank Personal Loan

Andhra Bank Personal Loan

Fullerton India Personal Loan

SBI Personal Loan

Bajaj Finance Personal Loan

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