How to get South Indian Bank NRI Personal Loan in 2022?


01 Nov 2021 | 5 min read

When the NRI/ OCI customers, South Indian Bank offers a variety of banking and financial products, including NRI accounts and fixed deposits, insurance, loans, and more. NRIs can use a South Indian Bank NRI personal loan to meet a variety of financial needs, including medical emergencies, travel, education, large-ticket purchases, debt consolidation, and so on.  

NRI personal loan interest rate from South Indian Bank 

The following is a list of South Indian Bank personal loan interest rates and other fees for NRI customers: 



Interest rate 

– Minimum: Repo Rate (4%) + 6.25% = 10.25% p.a. 
– Maximum: Repo Rate (4%) + 10.15% = 14.15% p.a. 
– Concession of 0.1% for woman borrowers. 

Processing fees 

2% of the loan amount 

Prepayment charges 

– Prepayment/ part-prepayment for 1 year: 4%  
– After 1 year: 2% 

Loan amount 

– Minimum: Rs. 1 lakh  
– Rs. 10 lakh (Income program), Rs. 7.50 lakh (Non-income program)  


12 months up to 60 months 


No security, no collateral 

South Indian Bank personal loan for NRIs features and perks collateral-free funding:  

  • Collateral-free funding: The Afinoz personal loan is an unsecured loan, which means you don't have to put up any collateral. The amount of the loan is determined by your income and credit score. 
  • Multipurpose Loan: A personal loan is a type of loan that can be utilized for a variety of purposes. You can spend the loan money for anything you desire, including a major purchase, a child's education, a wedding, travel, and medical bills. 
  • Low-interest rates: South Indian Bank's Personal Loan interest rates for NRI customers are among the lowest in the market, ranging from 10.25% per annum to 14.15% per annum. 
  • Minimal Documentation: The documentation process is short, easy, and quick because the SIB personal loan is unsecured. 
  • Flexible repayment period: The loan is available with a flexible repayment period ranging from 12 to 60 months. Borrowers can choose the payback term that best suits their needs. 

South Indian Bank's NRI personal loan eligibility criteria 

Following are the eligibility criteria of South Indian Bank NRI personal loan: 

  • To qualify for a personal loan, you must have a credit score of a minimum of 740. 
  • A minimum monthly gross income of Rs. 25,000 (excluding income from a co-applicant/ guarantor) as verified by ITR/ Form 16/ 16A/ Banking. 
  • Minimum of 2 years of work experience, including a minimum of 1 year in the current position. 
  • The debt-to-income ratio (DTI) should not be more than 40%. 
  • Bulk remittances are not included in an NRI's average monthly remittance to the NRE account of the NRI applicant or the resident account of a dependent during the previous 12 months. 
  • The monthly average balance (MAB) computed on certain dates for a year for a resident applicant should be a minimum of 1.25 times the requested EMI. 
  • Applicants who are self-employed should have a minimum of three years of experience in the field. 
  • For an NRI personal loan application, one local applicant (earning/non-earning) is necessary. 

Documents required for South Indian Bank NRI Personal Loan  

The following is a list of documents you'll need to apply for a personal loan with South Indian Bank: 

For non-resident applicants: 

  • South Indian Bank loan application form, fully completed 
  • Photographs in passport size 
  • As proof of identity, bring a photocopy of your passport. 
  • Proof of address 
  • It is necessary to have a valid passport and visa. 
  • 12-month period Statement of inward remittances from an NRE account or a resident account of a spouse 
  • Salary certificate/pay stubs for the previous 3 months.  

For resident applicants: 

  • Voter ID card, Aadhaar card, PAN card, passport, or driver's license are all acceptable forms of identification. 
  • Aadhaar card/utility bill (electricity bill, water bill, telephone bill) for the previous 3 months – with the same address as on loan application. 
  • For a credit score, you'll need your PAN number. 
  • Salary slips from the most recent pay period 
  • Bank statement over the previous three months 

Note that NRI candidates must have a close relative in India present while applying for a loan with South Indian Bank. 


You can get in contact with us if you need a personal loan in India. is here to assist NRIs with everything relating to banking, as well as other financial and legal services. 

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