Welcome to State Bank of Mysore's Personal Banking.
Your dream house or a flat, family size car, two wheeler, consumer durables, Children's education, Children's marriage and any such needs. Do not Worry - you have a loan product from the range of our loan schemes.
Loan for purchase of residential site / plot
MYBANK ADHYAPAK - Personal loan scheme to teachers
MYBANK ARAKSHAK - Personal loan scheme to police personnel
MYBANK UTSAV - Personal loan scheme to celebrate Festivals
SBM Car Loan Scheme - For purchase of new and used cars
GAGAN MITRA - New personal loan for Pilot & Air hostess training
Other Services
Cash Key
To meet unforeseen expenses, without premature withdrawal of term deposit. Immediate overdraft facility is available
ATM Facility
Round the clock ATM facility for customers of Bangalore city and different parts of the country.
Interest Rates: Schemes and interest rates are subject to changes from time to time
Loan for purchase of residential site / plot
Eligibility
Individuals not above the age of 60 years with a steady source of income
Purpose
To purchase site / plot by BDA / Housing Board / District Urban Development Authority / City Improvement Trust Board / Municipal Corporation / State Development Authority, on first sale only
Loan Amount
24 times net monthly income / 2 years annual income (subject to production of satisfactory proof) or 80% of the cost of the site whichever is less
Income of Spouse
For arriving the quantum of loan, income of the spouse may be considered where the allotment will be in single name and spouse stands as guarantor
Other Income
Regular income of the borrower from all sources can be considered subject to the satisfactory proof of the income
Margin
20% of the cost of site / plot
Type of Account
Medium Term Loan Account
Repayment
Maximum of 60 months in equated monthly instalments
Interest Rates <-- Click here for details
Processing Fee
Rs. 500/- flat per account
Security
Equitable Mortgage of the site / plot to be purchased
a) The letter of allotment / agreement for sale from the Housing Board / BDA / District Urban Development Authority / City Improvement Trust Board etc., should be obtained
b) A letter signed by the allottee duly expressing his / her intention to create the Mortgage (equitable / registered) in favour of the Bank to be obtained and forwarded to the allotting agency
c) The said letter should also contain a direction to the allotting agency to hand over the Documents directly to the Bank / Bank's Representative after registration of the property
d) A letter of undertaking to be obtained from the site allottee to the effect that a house will be constructed in due course and the relative site will not be sold on commercial consideration
MYBANK ARAKSHAK
Personal loan scheme for Police Personnel
This scheme is introduced to assist the Police Personnel to avail the loan hastle free
Eligibility
All Police Personnels (Permanently employed)
Purpose
Personal loan for any purpose including purchase of consumer durables
Loan Amount
10 times net monthly income with a maximum of Rs.1.50 lac
Income of Spouse
Spouse income may be considered to arrive at the eligible loan amount provided spouse is also employed (permanent employment) and stands as guarantor
Type of Account
Demand Loan Account
Margin
Nil
Repayment
Maximum of 36 months in equated monthly instalments
Interest Rates <-- Click here for details
Processing Fee
Rs.250/- flat.
Security
Upto Rs.25,000/- Nil
Above Rs.25,000/- check off facility. NSC,LIC policy may be insisted for security wherever possible or third party guarantee of equal means
Other Conditions/Requirements
Loan Recovery through check off facility
MYBANK ADHYAPAK
Personal loan scheme for teacher community
Eligibility
Permanent Teachers / Non-Teaching Staff of Central / State Govt. Educational Institutions and also Teachers and Non-Teaching Staff of Govt. Recognised Schools / Colleges / Aided Institutions
Purpose
Personal Loan for any purpose including purchase of consumer durables
Loan Amount
10 times net monthly income with a maximum of Rs.1.00 lac
Income of Spouse
Spouse income may be added to arrive at the eligible loan amount provided spouse is also employed and stands as guarantor.
Type of Account
Demand Loan Account
Margin
Nil
Repayment
Maximum of 36 months in equated monthly instalments
Interest Rates <-- Click here for details
Processing Fee
Rs.250/- flat
Security
Upto Rs.25,000/- Nil (only Check off facility).
Above Rs.25,000/- check off facility. NSC,LIC policy may be insisted for security wherever possible or third party guarantee of equal means
MYBANK UTSAV
Personal loan scheme for individuals for meeting expenditure related to Festivals
Eligibility
a)Employees of State / Central Govt.,/ PSUs / profit making Public / Private Ltd., Companies, Institutions etc., with a minimum of 2 years service.
b)Self employed persons with a minimum 3 years standing / experience.
c)Persons having regular source of income from verifiable channels like Pensions and Interest on TDRs / NSCs / Govt. Securities etc.,
Purpose
Loan to individuals for meeting expenditure related to Festivals
Minimum Net Income
Net Monthly Income (NMI) of Rs.3000/- & above
Loan Amount
Four times the net monthly income with a minimum of Rs.5000/- and a maximum of Rs.50,000/- (Borrowers other than salaried people should produce acceptable proofs with respect to their annual income)
Security
Primary - Nil
Collateral - personal guarantee of the spouse if employed, or any other person of adequate worth where check off facility is not available
Repayment Period
Maximum of 12 months through EMIs. No penalty for prepayment
Interest Rates <-- Click here for details
Processing Fee
Rs.100/- per application
Type of Loan
Clean Demand Loan
Disbursement
To the borrowers by credit to their account
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:
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