Individuals, employees, professionals, self-employed and others who are income tax assessee whose net monthly income is of Rs. 12,000/- for salaried persons or net annual income of Rs. 1,50,000/- in case of others and self-employed.
Maximum age - 65 years.
Rs. 1.00 lac to Rs. 50.00 lacs
Salaried Class - Maximum 36 times net monthly income.
Others - Maximum three times the net annual income.
Type of Loan
Term loan or current account overdraft
Equitable mortgage of unencumbered residential house / flat or urban commercial or industrial property in the name and possession of the borrower, either self acquired or vacant property. Rented out property will be accepted as security only where lease is in existence in favour of corporation of good standing and repute. Power of attorney authorising the Bank to collect rent should be given.
50% of the market value of the security.
Period of Repayment
Repayable in 84 equated monthly instalments.
Rate of Interest <-- Click here for details
1.25% of the loan amount (one time)
The property being mortgaged should be insured against the risk of fire / riot / earthquake / lightning / floods etc.,
Contact your nearest Branch of State Bank of Mysore or
State Bank of Mysore
Personal & Services Banking Department
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901extn.380
Fax: 91 80 22283684