SIB GEMS Home Loan

Exclusive Home financing Solutions for Government Employees

Turn your dream of owning a home into reality with SIB Gems Home Loan, exclusively for Government Employees. Whether you are planning to buy, build, renovate or transfer your existing home loan, SIB Gems offers affordable home loans with competitive interest rates, enhanced loan eligibility, quick processing, and flexible repayment options.

To qualify for a South Indian Bank Home loan, you need to meet the following criteria:

Criteria	Details
Age	Minimum: 21 years Maximum: 55 years at the time of availing loan and 70 years at the time of loan maturity
Loan Amount	Minimum: Rs. 25.00 Lakhs * Maximum: Rs. 1500 Lakhs (Income program) Rs. 300 Lakhs (Surrogate Program) Rs. 50 Lakhs (Repairs & Renovations without enlargement)
Loan Tenure	Minimum: 5 years Maximum: Income program- Up to 30 years or until the date of retirement, whichever is earlier for income program Repayment track program- Up to 25 years or residual tenure of the loan account to be taken over
Loan-to-Value (LTV) Ratio	Loan amount up to Rs. 30 Lakhs – Get up to 90% of the property value Loan amount between Rs. 30 Lakhs and Rs. 75 Lakhs – Get up to 80% of the property value Loan amount above Rs. 75 Lakhs – Get up to 75% of the property value
Minimum Bureau Score	Minimum credit bureau score of 700 for salaried Applicants without a track record (score of 0/-1) are also acceptable.
Employment Norms	All confirmed Government Employees with minimum gross income of Rs. 35000/-

Category	Details
Interest Rates	Check Interest Rates
Additional Charges	Attractive Processing fees starting at Rs. 1999.00 (Actual Processing fee - 0.50% +GST of the loan amount, subject to a minimum amount of Rs. 10000.00 + GST and maximum of Rs. 50000.00 + GST) Penal Interest: Financial default- 6% p.a. on the defaulted amount for the defaulted period Non- Financial Default- 4% p.a. on the defaulted amount for the defaulted period Prepayment / Pre-closure charges - Nil

Here’s a detailed list of KYC, income and property documents required.

KYC Documents
Identity Proof	Passport, Voter ID, Driving License, PAN Card, Aadhar Card
Address Proof	Passport, Voters ID, Driving License, Aadhar Card
Photos	Two passport-size photos of the applicant, co-applicant, and guarantor
Additional for NRI Customers	Copy of VISA, Passport, Work Permit, or ID Card (as applicable)

Income Documents
Salary Slip	Salary slips fo the last 3 months
Form 16 or ITRs	Form 16 or ITRs (with Computation) for the last 2 years
Bank Statements	Bank statement for the last 6 months' with salary credits

Property Documents
Construction of Residential House on Own Land	Approved Building Permit Approved Building Plan Construction Estimate Location Sketch (Village Office/Revenue Office) Possession Certificate (Village Office/Revenue Office) Latest Land Tax Receipt
Purchase of Land with Residential House	Sale Agreement Approved Building Plan/Permit (if available) Latest Building Tax Receipt Location Sketch (Village Office/Revenue Office) Possession Certificate (Village Office/Revenue Office) Latest Land Tax Receipt
Purchase of Land and Construction of House Later	Sale Agreement Construction Estimate from Engineer (if available) Self-Declaration from Applicant (approx. construction estimate and proposed area) Location Sketch (Village Office/Revenue Office) Possession Certificate (Village Office/Revenue Office) Latest Land Tax Receipt
Purchase of Ready-to-Occupy Flat	Sale Agreement Approved Building Permit/NOC from Local Body Latest Building Tax Receipt Latest Land Tax Receipt Completion/Occupancy Certificate (if purchased from builder) Location Sketch (Village Office/Revenue Office) Possession Certificate (Village Office/Revenue Office)
Purchase of Flat Under Construction	Registered Sale Agreement Construction Agreement (if applicable) Approved Building Permit/NOC from Local Body Tripartite Agreement (before loan disbursal) Statutory Approvals (e.g., Pollution Control, Fire and Safety, Aviation Clearance) NOC from Project Financing Bank (if applicable) RERA Certificate (if applicable) One-Time Builder Approval Latest Land Tax Receipt Location Sketch (Village Office/Revenue Office) Possession Certificate (Village Office/Revenue Office)
Repairs/Renovation/Extension	Repairs/Renovation Estimate Approved Plan and Permit/NOC from Local Body (if applicable) Latest Land Tax Receipt Latest Building Tax Receipt Location Sketch (Village Office/Revenue Office) Possession Certificate (Village Office/Revenue Office)
Takeover of Existing Housing Loan	Sanction Order of Existing Housing Loan LOD- (List of Documents submitted for charge creation) Latest 12 months Loan account statement Valid and Necessary approvals for under construction projects Tax paid Receipt for the Completed Projects
Reimbursement for Construction of New House	Occupancy Certificate/Tax Demand Notice (Local Govt. Body) Engineer Certificate (investment verification) Construction Estimate from Engineer Approved Building Plan/Permit Location Sketch (Village Office/Revenue Office) Possession Certificate (Village Office/Revenue Office) Latest Land Tax Receipt Latest Building Tax Receipt
Reimbursement for Renovation	Repairs/Renovation Estimate Certification by Licensed Engineer (renovation within the past year) Approved Building Plan and Permit/NOC from Local Body (if available) Latest Land Tax Receipt Latest Building Tax Receipt Location Sketch (Village Office/Revenue Office) Possession Certificate (Village Office/Revenue Office)
Reimbursement for Purchase of House/Flat	Sale Deed Copy Approved Building Plan and Permit/NOC from Local Body (if available) Latest Building Tax Receipt Latest Land Tax Receipt Copies of Approval Reimbursement allowed for Flats/Villas under construction for expenses incurred within two years

Fill in your details here and we will help you
OR

Submit application - Visit your nearest South Indian Bank branch to fill out the application form
Verification and approval - Our team will review and approve your application
Disbursement - Receive the loan amount to finance your home

Use our Home loan EMI Calculator to estimate your monthly payments and effectively plan your finances.

With competitive rates, minimal charges, and flexible terms, South Indian Bank’s home loan is crafted to support you every step of the way. Explore these features and take the first step towards owning your dream home today.

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