South Indian Bank Launches Single-EMI Solution to Ease Debt Burden
Bengaluru, November 25, 2025 – The South Indian Bank (SIB) unveiled a new financial product on Tuesday aimed at helping customers streamline multiple loan repayments into a single, more manageable monthly installment. The product, named ‘SIB Power CONSOL,’ is designed to act as a debt consolidation tool for salaried individuals and self-employed professionals.
The launch addresses a growing need among borrowers juggling various high-interest loans, positioning the bank as a financial advisor for its clients.
A Single Solution for Multiple Debts
The SIB Power CONSOL product allows customers to combine a range of existing loans—including home, car, education, personal, and consumer durable loans—into one new loan. This consolidation comes with a unified Equated Monthly Installment (EMI) and, crucially, a lower overall interest rate.
By clearing a customer’s outstanding dues across various lenders directly, SIB replaces the complex web of payments with one predictable monthly obligation. This approach is intended to simplify personal finance management and reduce the strain of tracking multiple repayment dates and amounts.
“SIB serves as a Debt Counsellor to help customers consolidate their multiple EMIs,” the bank stated, emphasizing the advisory role embedded within the product.
Key Features and Borrower Benefits
The product is structured as a loan against property, requiring borrowers to mortgage residential or commercial real estate. This security allows customers to unlock the value of their assets without having to sell them, with loans available for up to 75% of the property’s value.
The key features of SIB Power CONSOL include:
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Substantial Loan Range: Customers can avail of consolidation amounts from ₹10 lakh up to ₹3 crore.
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Extended Repayment Tenure: The product offers flexible tenures, extending up to 15 years for general consolidation and up to 30 years specifically for home loan balance transfers.
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Simplified Documentation: Leveraging a Repayment Track Record-based lending model, the bank has minimized the required paperwork for eligible customers.
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Zero Processing Fee: In a customer-friendly move, the bank is waiving the processing fee for this product, reducing the upfront cost of availing the service.
“The lower interest rates on consolidated loans offered by SIB will reduce the financial burden on customers,” the bank noted, highlighting the dual benefit of reduced interest outflow and longer repayment periods.
Target Audience and Strategic Focus
SIB Power CONSOL is targeted at a specific demographic of salaried individuals, Self-Employed Professionals (SEP), and Self-Employed Non-Professionals (SENP) between the ages of 30 and 55. This group often represents a segment in its prime earning years but may also be managing significant, accumulated debt from various sources.
The launch underscores South Indian Bank’s broader strategy to develop customer-centric products that address evolving financial challenges. By offering a structured path to debt management, the bank aims to provide not just credit, but financial clarity and stability for its clients.
