Under Personal Segment, You can avail a loan for
- Construction or Purchase of a new house or flat
- Repairs / Renovation / Extension of existing house
- For purchase of plot for construction of house within two years
- For purchase of built houses not more than 15 years old
- Housing loan against II charge
- For Purchase of Furnishings / Consumer durables as part of the project cost
Quantum of Loan amount
Loan amount for all categories
Maximum Repayment period
Margin for Purchase of New houses which are ready for possession (Applicable to First sale only)
Penal interest of 1% in case of default of three or more consecutive instalments.
Fixed Rate of Interest <-- Click here for details
Floating Rate of Interest <-- Click here for details
Processing charges (w.e.f. 01-02-2014) : 0.50%( with a maximum of Rs 7,500/-)
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.
Direct to the sellers in case of purchase.
For Construction / Repairs / Renovations – in a phased manner
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.
No Pre-closure / Pre-payment penalty on all Home Loans.
Terms and Conditions subject to change.
Contact your nearest Branch of State Bank of Mysore or