State Bank of Sikkim FAQs



  • Employees Personal Loan

  • What is the eligibility criteria for availing of Employees Personal Loan?

    Employees of State Government of Sikkim/Undertakings on regular basis having rendered service for a minimum period of 2 years are eligible to apply for the loan.

  • What is the maximum loan amount under the scheme?

    Depending upon the net take home salary of the applicant, the minimum loan is Rs. 50,000/ and maximum amount is Rs. 5,00,000/=.

  • How much is the repayment tenure?

    The applicants can choose to repay the loan amount on equated monthly installments within 12 (minimum) to 48 months (maximum).

  • How can I calculate my loan amount eligibility?

    Check your loan amount eligibility and monthly installments here.

  • How do I apply for Employees Personal Loan?

    Application for SBS Employees Personal Loan will have to be made in prescribed loan application form available in branches and Head Office.

    State Bank of Sikkim reseves the right to decline the application with or without any reason.

    The applicant willing to avail of Employees Personal Loan will have to submit copy of latest Salary Certificate along with application on plain paper for the Employees Personal Loan Form in any branch or Head Office.

    After submission of the application form and upon sanction of the loan, if approved, applicant will be informed via telephone.

  • Home Loan

  • What is the eligibility criteria for availing of Home Loan?

    A. Individuals, aged 21 years or above having regular Salaried income and not defaulter borrower of any Bank / Financial Institutions.

    B. Preferably loan is given in joint names of two or more individuals, i.e. Co-owner (s) o f property (must) / spouse / parents / son or daughter / brother or sister.

    C. Salaried Person should be in regular and permanent service of Government of Sikkim only.

  • Can I avail Home Loan for purchase of land?

    Sorry. You cannot utilise the loan amount for purchase of land. The purpose of SBS Home Loan is specifically for:-

    1. Construction of House on own land.

    2. Renovation/extension/repair of owner-occupied or tenant – occupied house or flat.

  • What is the maximum loan amount under the scheme of SBS Home Loan?

    The maximum loan amount is Rs. 40,00,000/= with repayment schedule of up to 15 years (180 months).

  • How much is my loan amount eligibility?

    Check your loan amount eligibility and monthly installments here.

  • How do I apply for SBS Home Loan and what are the property documents to be submitted?

    Application for SBS Home Loan will have to be made in prescribed loan application form available at Head Office.

    The following property documents will have to be submitted

    a. Registered Sale Deed of own land / property.

    b. Approved BP plan for construction / extension from competent authority.

    c. Mutation Certificate / Parcha, Latest Tax receipts.

    d. Cost estimate from Architect (Empanelled) for the proposed construction / extension / repair.

    e. Search Report / Non Encumbrance Certificate from concerned/competent authority.

    f. No Objection Certificate from family members.

  • Other FAQs

  • How do I get No Objection Certificate from State Bank of Sikkim?

    We issue NOC for various purposes on request of the applicant. In order to get NOC from State Bank of Sikkim, you will have to write an appliation on a plain paper addressed to the Manager (Loan), State Bank of Sikkim, Head Office, Gangtok, stating the reason for NOC. You will have to get it frowarded from the concerned branch of State Bank of Sikkim before submitting to the Head Office. The fee for issuing NOC is Rs. 60/= only.

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