State Bank of Mysore

Trusted Service

Housing Loan

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


Loan amount

Loan amount subject to following EMI/NMI ratio.
Net Annual Income Rs. Permissible EMI/NMI Ratio
1) Upto.60,000/-                                  20% 
2) > Rs.60,001/- <=Rs.1,20,000/-         25%
3) > Rs.1,20,001/- to < =Rs.2 lacs       30%
4) > Rs.2 lacs to < =Rs.5 lacs             50%
5) > Rs.5 lacs to < =Rs.10 lacs           55%
6) >= Rs.10 lacs                                 65%


Loan term

Maximum 30 Years


Interest type                                                        (fixed or floating)

Floating Rate


a) Interest chargeable                                           (in case of floating Rate Loan)

(a) 9.85%(BASE RATE + 0.20%)


b)Interest chargeable                                            (in case of Fixed Rate Loan)



Date of reset of interest



Mode of communication of changes in               interest rates

Website/SMS/News paper


Fee payable

Processing fee at 0.50%  Max. of Rs.7,500/-


On application

No Charges


During the Term of the loan

a) Inspection charge for Rs.25001/-to Rs.2.00 lacs.225/- per Inspn. Max. Rs.600/-p.a.
b) Above Rs.2.00 lacs to Rs.10.00 lacs Rs.275/- per inspection Max. Rs.1250/- p.a.
c) Above Rs.10.00 lacs to Rs.25.00 lacs Rs.500/- per inspection Max. Rs.3500/- p.a.
d) Above Rs.25 lacs Rs.600/- per inspection Max Rs.6000/- p.a.


On foreclosure

No Charges


Fee refundable if loan not                                  sanctioned/disbursed

Non refundable


Conversion charges for switching from               floating to fixed and vise-versa



Penalty for delayed payments

For loans above Rs.25000/- if the irregularity exceeds EMI or instalment amount, for a period of one month, the penal interest would be charged @2% p.a. (over and above the applicable interest rate) on the overdue amount for the period of default.  If part instalment or part EMI remains ovedrdue, then penal interest will not be levied.


EMI payable

Rs,867/- per lakh (30 Years) @ 9.85%


Details of Security/collateral obtained

1.Primary Security:equitable mortgage by deposit of the immovable property should be obtained.Where it is considered necessary by the sanctioning authority, a Registered Mortgage of the immovable property should be obtained. Above Rs.5 lacs memorandum relating to equitable mortgage of the property should be compulsorily registered.


Date on which annual outstanding balance statement will be issued

31st  March….)


Terms and Conditions subject to change.

Download application form

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 extn.380
Fax: 91 80 22283684

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State Bank of Mysore,
H .O.: K.G.Road,
Bangalore - 560254, INDIA.
Phone (EPABX): 91 80 22353901 (30 lines of PRI)
Fax: 91 80 22283684

Download Application Form

 Application Form