Loan Details

Interest Rate

Starting at 12.25%

Processing Fee

Up to 2% of the loan amount



3% of the outstanding loan for pre-closure


36-48 months

  • Eligibility Factors
  • Documents Required
  • Loan Verification Process
  • Rate of Interest
South Indian Bank Business Loan

a. Age: 21-65 years

b. Credit Score: - Minimum 690 (with collateral)

- Minimum 710 (without collateral)


c. Employment Type: - Self-employed professionals

- Self-employed professionals

- Manufacturers, traders and wholesalers

d. Minimum Gross Income (monthly): Minimum annual turnover
of Rs100 lakhs

e. Work Experience: Eligibility varies according to the
borrower’s profile


The applicants need to furnish the following documents to apply for South Indian Bank business loan:

  • Valid identity proof of the applicant.
  • Valid address proof of the applicant.
  • PAN card.
  • Current account statement of the firm for the last six months.
  • Last 12 months bank statement for the surrogate program.
  • ITR and computation of income for the last three assessment years.
  • Balance sheet and profit and loss account statement with necessary annexures or schedules.
  • Partnership deed/memorandum and articles of association and other entity documents as applicable.
  • Title deeds, possession certificate, tax statement, encumbrance certificate of the property for collateral.
  • Sanction order copies and account statement for existing loan takeover.

The loan verification for South Indian Bank is a six-step process for business loan:

1. Place a request for business loan inquiry online on the website of South Indian Bank. You can also visit the nearest branch or meet their loan executive.

2. Another good option is to apply for this loan online at You will also get personalised deals.

3. team will then contact you to collect documents at your time and place of convenience if you have submitted a request for offline submission. Or else, you can also upload documents online.

4. After the bank receives the application and documents, it will check the borrower’s eligibility. It may ask to submit additional documents or information for further verification.

5. If the bank finds everything satisfactory, it will sanction the loan amount and sign a loan agreement with the borrower.

6. The bank disburses the sanctioned loan amount to the borrower’s designated bank account.

The South Indian Bank business loan is linked to MCLR and REPO rate. Borrowers with good CIBIL scores can avail of a discount on the interest rate.