State Bank of Mysore

Trusted Service

Personal Loans

Eligibility
Individuals, employees of state / central government, Public Sector undertakings, reputed profit making Public limited companies, Multi national companies with a minimum service of two years and drawing a net salary of Rs. 6,000/- or above.

Purpose
To meet personal expenses like marriage, family functions, medical expenses, travel etc.,

Loan Amount
Upto Rs. 1.50 lacs depending on repayment capacity of the individuals.

Security
Third party guarantee of equal means. Securities like LIC policies, NSC, KVIP, Shares etc.,

Period of Repayment
12 months to 36 months.

Type of Loan
Demand loan.

Rate of Interest <--Click here for details

Processing Fee
1% of loan amount (one time).

 

PERSONAL LOAN(Xpress credit)

1

Loan amount

Rs 25,000- to Rs 15,00,000/-

2

Loan term

60 Months

3

Interest type                                                        (fixed or floating)

floating

4

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

 

 

With Corporate salary package& with check off facility.

3.85% above MCLR,presently 13.30%

 

Salary account without Corporate salary package& with check off facility.

3.85% above MCLR, presently 13.30%

 

Salary account without Corporate salary package& but salary account with us but without check off facility.

4.35% above MCLR,presently 13.80%

 

For others/without  Salary Account with us/Corporate salary package.

Without check off facility

6.85 % above Base Rate,presently 16.30%

 

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

NA

5

Date of reset of interest

NA

6

Mode of communication of changes in               interest rates

Website,SMS,New paper

7

Fee payable

 

a

On application

0.50% of the loan amount to be  recovered upfront

b

During the Term of the loan

Nil

c

On foreclosure

Nil

d

Fee refundable if loan not                                  sanctioned/disbursed

NA

e

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

NA

f

Penalty for delayed payments

For loans above Rs.25,000/- if the irregularity exceeds EMI or instalment amount, for a period of one month, then 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 overdue , then penal interest will not be levied

8

EMI payable

 

 

With Corporate salary package& with check off facility.

Rs 2291/- per lac

 

With Corporate salary package& without check off facility.

Rs 2291/- per lac

 

Without Corporate salary package& but salary account with us .

Rs 2317/- per lac

 

Without Corporate salary package&  salary account not  with us .

Rs 2448/- per lac

9

Details of Security/collateral obtained

Third party guarantee of equal means

10

Date on which annual outstanding balance statement will be issued

31th  March

 



 


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 22353901extn.380
Fax: 91 80 22283684
Email:cmpsb@sbm.co.in


 
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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
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