SIB LAP Power

Here are the key features of SIB LAP Power :

High Loan Amount - Avail loans starting from Rs. 10 Lakhs based on your property value and eligibility
Flexible Loan Options - Choose from Overdraft, Dropline Overdraft, or Term Loan variants based on your business needs
Wide Range of Purposes - Use the loan for business expansion, balance transfer, or debt consolidation
Flexible Tenure - Repay comfortably with a flexible tenure ranging from 3 to 15 year
Available to Various Business Entities - Loan available for Individuals, HUFs, Proprietorships, Partnerships, LLPs, Companies, Trusts, and Societies
Residential Property Accepted - Secure funding by pledging residential property located within municipal or corporation limits (or select panchayat areas)
Quick Processing & Disbursal - Fast approval and processing for eligible applicants with complete documentation
Balance Transfer Option - Facility to transfer existing loans or limits from other banks for better terms

Criteria	Details
Age	Minimum 21 years Maximum 70 years at loan maturity
Eligible Entities:	Individuals / HUFs (with business proof) Proprietorship concerns Partnership firms LLPs Private & Public Limited Companies Trusts & Societies
Loan Tenure	1 year to 15 years

Category

Details

Interest Rates

Other Charges

List of documents required with respect to the purpose of Loan.

Applicant Type	Required Documents
Salaried individuals	KYC documents (PAN card, Aadhaar card, and photographs). Latest 3 months' salary slips. ITR for the past 2 years. 6 months' bank account statements. Title deeds, Possession Certificate, Encumbrance certificate, location certificate and sketch Tax Paid Receipts
Business class	KYC documents (PAN card, Aadhaar card, and photographs). Recent financial statements. ITR for the past 2 years. 6 months' bank account statements. Title deeds, Possession Certificate, Encumbrance certificate, location certificate and sketch Tax Paid Receipts
Pensioners	KYC documents (PAN card, Aadhaar card, and photographs). Latest 3 months' pension statements. ITR for the past 2 years. 6 months' bank account statements. Title deeds, Possession Certificate, Encumbrance certificate, location certificate and sketch Tax Paid Receipts

Offline Application:
- Visit Your Nearest Branch – Bring the required documents and discuss your needs with our loan officer. Branch locator
- Complete the Application Process – Submit the necessary paperwork for verification.
- Approval & Disbursal – Once approved, funds are made available quickly.