State Bank of Mysore

Eligibility:
a) Employees of Government, Reputed PSUs and profit making Public Limited Compani, with a minimum of 10 years service
b) Self Employed Engineers, Doctors, Architects, Chartered Accountants, MBAs, with a minimum 5 years standing. They should be below 65 years of age
c) Pensioners of PSUs / Govt. (State/Central) Public Sector Banks who have taken premature voluntary retirement and are 60 years of age or less, including pensioners of SBM
d) Agents of Insurance / KVP / Mutual Funds etc., who are tax assesees and whose gross annual income exceeds Rs. 1.50 lacs. The facility will be considered only if a power of attorney or mandate is registered with the principal organisation with which the agent deals, authorising them to remit the commission direct to the Bank.
Provided, however, that if the person treated happens to be a minor Son / Daughter of an eligible applicant, the loan can be extended to the Parent earning

Income Criteria:
a) For Employees / Pensioner - Net monthly income Rs. 6000/-
b) For Self Employed Person - Net annual income of Rs. 1,50,000/- as per latest I.T. Returns
c) For Agents - Gross income exceeding Rs. 1.50 lakh per annum (to produce latest I.T. Returns)
d) Income of the spouse can be considered if the spouse guarantees the loan

Loan Amount:
Minimum Rs. 20,000/-
Maximum 12 months net monthly income, Net of all deductions, including Income Tax for salaried individuals and pensioners and 1 year's net annual income in case of Self-employed professionals subject to the ceilings as below:
Employees and Professionals: Rs. 1.50 lacs
Pensioners who have taken early retirement and Agents under eligibility above Rs. 1.00 lac

Margin:
15 % of the total cost of Hospital bill

Rate of Interest: (wef 10.08.2008)

Procesing fee:
0.50% with a maximum of Rs. 500/-.

Disbursal:
1. Directly to hospital against production of bills or
2. Payment against indents from hospital
3. Reimbursement may also be considered within 15 days from the date of discharge when payment has already been made

Repayment:
Minimum -36 months
Maximum 72 months - out of Salary / Pension /Professional Income / Agricultural Income

Age limit:
Maximum 65 years

Other Conditions:
In case of Pensioners any one earning member of the family should be a co-borrower

If salaried person is accepted as co-borrower / Guarantor, check-off facility to be obtained

For professionals, minimum 2 years of Income tax assesment should be obtained