South Indian Bank is here to help you buy a new or used car. SIB offers a range of Car Loans with up to 100% on-road funding. Enjoy special rates of interest, flexible tenures, and quick disbursals.
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SIB offers up to 100% financing of on road price for new cars. Avail a comfortable tenure of up to 7 years with zero pre-payment/foreclosure charges*. With SIB, don’t just dream. It's time to start driving your new car
A pre-owned car can be both convenient and affordable. You can avail funding up to 85% of the valuation at attractive interest rates and flexible tenure of up to 5 years.
Avail SIB’s Pre-Approved Car Loan for purchase of new and used car based on strong credit history and relationship with the bank. SIB offers you the flexibility of purchase whenever you’re ready with up to 100% ex-showroom price funding for new cars. Avail loans up to Rs. 20.00 lakhs for a maximum tenure of 5 years.
SIB offers Vehicle Loan upto 90% of On Road Price for Purchase of Commercial/Agri vehicles (New) .Avail SIB Commercial / Agri Vehicle Loan for a tenure up to 5 years.
SIB Super Bike Loan offers up to 90% of On Road Price and loan amount up to 50 lakhs for your super bike for a maximum tenure of 5 years.
Avail up to 90% of On Road Price for Purchasing Two wheeler at attractive interest rates and loan amount up to 5 lakhs with SIB Two Wheeler Loan.
SIB offers up to 100% financing of on road price for new cars. Avail a comfortable tenure of up to 7 years with zero pre-payment/foreclosure charges*. With SIB, don’t just dream. It's time to start driving your new car
A pre-owned car can be both convenient and affordable. You can avail funding up to 85% of the valuation at attractive interest rates and flexible tenure of up to 5 years.
Avail SIB’s Pre-Approved Car Loan for purchase of new and used car based on strong credit history and relationship with the bank. SIB offers you the flexibility of purchase whenever you’re ready with up to 100% ex-showroom price funding for new cars. Avail loans up to Rs. 20.00 lakhs for a maximum tenure of 5 years.
SIB offers Vehicle Loan upto 90% of On Road Price for Purchase of Commercial/Agri vehicles (New) .Avail SIB Commercial / Agri Vehicle Loan for a tenure up to 5 years.
SIB Super Bike Loan offers up to 90% of On Road Price and loan amount up to 50 lakhs for your super bike for a maximum tenure of 5 years.
Avail up to 90% of On Road Price for Purchasing Two wheeler at attractive interest rates and loan amount up to 5 lakhs with SIB Two Wheeler Loan.
Use South Indian Bank’s EMI Calculator to check your eligibility.
*Please note that EMI/Rate of Interest displayed is indicative only, and the actual rate of interest may vary Know More
| Salaried | Business Class – Self Employed Non Professionals |
Self Employed Professionals |
Non Resident Indians |
|---|---|---|---|
| Identity Proof | Identity Proof | Identity Proof | Identity Proof |
| Address Proof | Address Proof | Address Proof | Address Proof |
| Passport Size Photo | Passport Size Photo | Passport Size Photo | Passport Size Photo |
| Latest 3 months pay slips | Latest 2 years Tax returns | Latest 2 years Tax returns | Valid Passport and VISA |
| Latest Form 16/ITR | Valid Business Proof | Valid registration proof and professional certificate | 12 months NRE account statement |
| Latest 6 months Bank statement showing Salary Credits | Latest 6 months Bank statements | Latest 6 months Bank Statements | 12 months NRE account statement/ spouse domestic account statement reflecting NRE remittance/overseas bank statement |
Proforma Invoice for New Cars
Used Cars – Expert Valuation Report, Sale Agreement, Insurance and RC copy
*Any other documents as required by the Bank for Credit Decision
Vehicle Loan is a Secured Term Loan where a vehicle purchased would be the primary security. SIB Vehicle Loan products include:
SIB New Car Loan is extended to purchase a new car/reimbursement within 3 months of purchase
SIB Used Car Loan is extended to purchase a used car from individual owners/authorised used car dealers
SIB Commercial/Agricultural Vehicle loans are loans offered to borrowers for the purchase of vehicles for commercial, agricultural or business purposes (New vehicles only)
SIB Two Wheeler loan is extended to purchase a new motor bike or scooter for individual customers of SIB
SIB Super Bike loan is extended for the purchase of new super bikes/ reimbursement of new purchase within 3 months (only for new bikes) or bikes where the on-road price is above Rs. 5 lakhs.
Any electric vehicle registered with the RTO will be funded by South Indian Bank for the above products as per our policy
SIB Vehicle Loan can be availed by the below category of customers based on the Vehicle Loan segment such as:
SIB Vehicle Loan works similarly to a majority of term loans. You can apply for the loan through the bank based on the repayment capacity and meeting other credit norms prescribed by the bank. The bank agrees to provide a loan for purchasing the vehicle, and the customer agrees to pay back the amount through EMI with interest as per the agreement. You are required to provide documents like:
SIB offers a varied range of vehicle financing solutions depending on your needs, such as:
For calculating your EMI, click here. Please note that EMI/Rate of Interest displayed is indicative only, and the actual rate of interest may vary.
The minimum and maximum amounts for SIB Vehicle Loans are as follows:
| Product | Minimum Amount | Maximum Amount |
| New Car Loan | 1,00,000 | 2,00,00,000 |
| Used Car Loan | 1,00,000 | 50,00,000 |
| Two Wheeler Loan | 20,000 | 5,00,000 |
| Super Bike Loan | 5,00,000 | 50,00,000 |
The minimum tenure in years and maximum tenure in years for is as follows:
| Product | Minimum Tenure(years) | Maximum Tenure(years) |
| New Car Loan | 1 | 7 |
| Used Car Loan | 1 | 5 |
| Commercial/Agri Vehicle Loan | 1 | 5 |
| Two Wheeler Loan | 1 | 4 |
| Super Bike Loan | 1 | 5 |
Yes. Part-payment/ Pre-payment is allowed for SIB Vehicle Loans.
To foreclose Vehicle Loan, payment for the remaining dues of the loan can be made at SIB Branch.
For individuals: son, spouse, father, mother, brother, partners, directors, firms, companies, etc., as decided by the bank based on the Vehicle Loan Segment For non-individuals: partners, directors, firms, companies etc., as decided by the bank based on the Vehicle Loan Segment