Shivalik Small Finance Bank Home Loan Eligibility Criteria
There are different eligibility criteria for the home loan, which are basic parameters.
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Eligibility Parameter
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Details (Indicative)
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Applicant Age
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Minimum ~21 years; maximum up to ~65–70 years at loan maturity (typical for retail loans)
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Employment Type
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Salaried individuals, Self-employed/business owners (steady income required)
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Minimum Income
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Regular source of income assessed to support EMI repayment (exact threshold varies)
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Credit/CIBIL Score
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Preferably good credit score to improve approval chances (higher = better)
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Loan-to-Value (LTV)
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Up to ~90% of property value (industry-standard proportion seen for small finance banks)
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Property Type
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Residential property (ready or under construction)
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Co-Applicant Allowed
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Yes — spouse/family member (to strengthen eligibility)
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Note: Exact eligibility criteria may vary at the time of application and based on borrower profile. It's best to check directly with the bank or its official portal before applying for the most current norms.
Shivalik Small Finance Bank Home Loan Schemes
Borrowers can compare small finance home loan options and choose from multiple schemes tailored to different housing needs:
Standard Home Loan – Core housing loan for purchase, construction, or renovation of residential property with competitive interest and flexible tenure up to ~20 years.
Balance Transfer / Takeover – Option to transfer an existing home loan from another lender to Shivalik SFB for better interest terms (subject to bank approval).
Top-Up Loan – Additional loan on an existing home loan for renovation, education, or other financial needs (where available).
NRI Home Loan – Home loan solutions (terms vary) for Non-Resident Indians with tailored documentation and repayment options.
Loan Against Property (LAP) – Facility to borrow against existing residential property for personal or business use (related product often offered alongside home loans).
Each scheme offers flexible loan tenure, choice of interest type (fixed/floating), and structured EMI planning based on the approved principal amount.
Documents Required for Shivalik Small Finance Bank Home Loan
Preparing home loan documentation in advance helps reduce processing time. Below is a standard list of documents required for home loan application in 2026:
| Document Category |
Documents Required |
| Identity & KYC |
• Aadhaar Card • PAN Card • Passport / Voter ID / Driving Licence (as secondary ID) |
| Address Proof |
• Aadhaar/Passport/Driving Licence • Recent utility bill / bank statement (if required) |
| Photographs |
• Recent passport-size photos of applicant(s) |
| Income Proof – Salaried |
• Latest 3–6 months' salary slips • Latest 2 years' Income Tax Returns (ITR) / Form 16 • Bank statements showing salary credit (last 6 months) (typically required) |
| Income Proof – Self-Employed |
• Last 2–3 years' ITRs • Business/Profit & Loss statement • Bank statements (last 6 months) (typically required) |
| Property Documents |
• Property title/ownership papers • Sale agreement / allotment letter • Approved building plan & permissions (if applicable) (standard for housing loans) |
| Additional Documents |
• Encumbrance certificate (if required) • Any other bank-requested legal/financial papers |
Tax Benefits on Shivalik Small Finance Bank Home Loan
A Shivalik Small Finance Bank home loan offers attractive tax benefits, helping reduce your overall tax burden:
Section 24(b): Deduction of up to ₹2 lakh per year on home loan interest for a self-occupied property
Let-Out Property: Entire interest paid on the home loan may be claimed as deduction (as per tax rules)
Section 80C: Deduction of up to ₹1.5 lakh per year on principal repayment, subject to overall limits
Section 80EE / 80EEA: Additional interest deduction for eligible first-time homebuyers
Overall Benefit: Reduces taxable income and lowers the effective cost of the home loan
Processing Fees & Other Charges for Shivalik Small Finance Bank Home Loan
Shivalik Small Finance Bank home loans usually attract a processing fee of around 1% of the loan amount plus applicable GST. Other charges may include late payment penalties, EMI bounce charges, and applicable prepayment or foreclosure fees, as per the bank's policy. Statutory and legal charges may also apply. All fees are subject to confirmation at the time of application.
Borrowers can calculate EMI in advance to choose a comfortable repayment tenure.