Loan Details

Interest Rate

9.30% onwards

Processing Fee

Up to 1% of the loan amount



2% of the outstanding loan amount


Up to 12 years

  • Eligibility Factors
  • Documents Required
  • Loan Verification Process
  • Rate of Interest
South Indian Bank Loan Against Property Loan
  • Age
  • For Salaried: 21 - 60 years
  • For Self-employed: 21 - 65 years

Credit Score

  • 730 or more.

Employment type

  • Salaried class
  • Business class

Minimum net income (monthly)

  • Rs. 25,000
  • Work experience
  • Salaried class: Minimum of 2 years as a salaried employee,
    with at least one year in the current organization.
  • Business class: Minimum 2 years of business stability.

All the applicants are required to submit the below-listed documents with South Indian Bank:

  • Filled up South Indian Bank Loan against Property application form
  • Recent Photographs
  • ITR of previous 2 years
  • Proof of Identity
  • Proof of Residency
  • Proof of Signature Authenticity

Self-employed candidates are required to submit the documents listed below along with the ones mentioned above:

  • Proof of business establishment
  • Address proof of Business
  • Income Tax Returns
  • Proof of Business continuity of past 3 years
  • Copy of bank statement of past 180 days
  • Proof of earnings of last 6 months

Salaried applicants are required to submit a copy of the following documents besides along with the ones mentioned above:

  • Last 6 months of bank statement showing your income or salary details
  • Copy of salary slip of past 180 days
  • Copy of all relevant documents showing ownership of property that is to be mortgage
  • Previous 2 years Form 16
  • Employer’s ID
  • Proof of work experience

Identity Proof (for all borrowers)

  • Driving License
  • Aadhar Card
  • Valid Passport
  • PAN Card
  • Voter ID

Proof of Residential Address (for all borrowers)

  • Utility Bill
  • Receipt of Property Tax
  • Approved Building Plan
  • Valid Passport
  • Voter ID
  • Registered Rent Agreement

Birth Date Proof (for all borrowers)

  • Driving License
  • Valid Passport
  • Voter ID
  • Aadhar Card

Property documents (for all borrowers)

  • Registered Sale Deed
  • Lease Deed
  • Conveyance
  • Past Sale Deeds
  • Receipt of House Tax Return
  • Building Plan approved by Municipal Corporation

Income documents (for salaried borrowers)

  • Last 6 months Pay Slip
  • Form 16 of past 2 years
  • Bank statement of past 6 months showcasing EMI debit/ salary credit

The loan verification process at Apnapaisa is straightforward and simple:

  • Fill in the application form and submit it along with the other required documents.
    It can be quickly done by signing up on
  • You will receive a call from one of our representatives within 24 hours to schedule
    a pickup of the documents in case you opt for offline submission of the
  • The concerned department representatives at South Indian Bank will verify the
    documents and the details. They may visit the property if necessary.
  • After the completion of the verification process and approval of the loan, the
    lender will call you with the loan offer and ask for your consent for disbursal.
  • Once you have accepted the loan offer, the amount gets credited to your accounts
    within 48 hours.
  • You will get a copy of the duly signed loan agreement containing details of loan
    interest, tenure, loan amount, charges, and penalties.


The applicable rate of interest on loans against property usually ranges between 9.3 - 10.3%.

There are two reference rate systems linked to South Indian Bank Loan against Property interest rate:

  • Interest Rate Linked To REPO Rate
  • The interest rate varies from Repo Rate + 6.05% to Repo Rate + 6.30%.
  • Interest Rate Linked To MCLR
  • The interest rate = 1 year of MCLR + 2.00%