The house property
has to be insured covering all risks.
Group insurance is available to cover the life of the borrower
on payment of one time upfront premium.
Disbursement
Direct to the sellers
in case of purchase.
For Construction / Repairs / Renovations – in a phased
manner
Repayment
Repayable in monthly
instalments. Repayment period ranging from 5 to 25 years,
including a moratorium period ranging from 6 to18 months
from
the date of the first disbursement.
Schemes and Interest
Rates are subject to changes from time to time.
Attractive features
of State Bank of Mysore’s Housing Finance scheme
Loans from State Bank of Mysore are cheaper than housing
finance agencies / companies.
Nominal processing charges.
No administration charges.
No commitment charges.
Interest charged on reducing balances.
Facility available at all branches in India.
Exemption from wealth tax for one house under Wealth
Tax Act.
If the loan
is pre-closed from own resources for which proof is submitted
by the borrower to the satisfaction of the Branch Manager,
pre-closure penalty shall not be levied irrespective
of the period for which the account has run. In other
cases, where such proof is not produced by the borrowers,
2% penalty on the amount prepaid in excess of normal
EMI dues should be levied in case of pre-closure of Home
loans within 3 years from the date of commencement of
repayment.
Terms and Conditions
subject to change.
Contact
your nearest Branch
of State Bank of Mysore or
Chief Manager
State Bank of Mysore
Personal & Services Banking Department
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901 to 22353909 ; 22353473.extn.380
91 80 22353467 Fax: 91 80 22283684
Email:cmpsb@sbm.co.in
