SIB LAP Power
A South Indian Bank loan against residential or commercial property, used to grow a business, move a loan from another bank or combine debts.
Last updated on
- Status
- Open
- Run by
- The South Indian Bank Limited
What you get
- Loans of ₹10 lakh to ₹7.5 crore depending on the property value
- Taken as an overdraft, a dropline overdraft or a term loan
- Tenure of 3 to 15 years, and an overdraft can run from 12 months
- For business expansion, taking over a loan from another lender or consolidating debts
Who can apply
- Businesses that are already running.
- Age 21 or over.
- The most on offer is ₹7.5 crore.
- Open to individuals and HUFs with proof of business, proprietorships, partnerships, LLPs, companies, trusts and societies
- At least 21 years old and no older than 70 when the loan ends
- The property owner's spouse, or else a close relative, signs as guarantor
- Residential, commercial or industrial property in corporation or municipal areas, and panchayat plots of up to 30 cents
How to apply
- Apply at a South Indian Bank branch, the bank processes these on an automated platform
In person, any South Indian Bank branch
In Kerala, any South Indian Bank branch
Figures you may see elsewhere
The bank's pages differ on accepted property. The business page accepts residential, commercial and industrial property, the long term finance overview adds vacant land, and the NRI version accepts only residential property.
Where we found this
An independent guide by The Company of Four, not a government website. Schemes change often, so check every detail on the official website before you apply. Links marked ↗ open external websites that we do not run, and we are not responsible for their content. Seen something out of date? Tell us and we will look into it.