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Interest rates

State Bank of Mysore

Trusted Service

Interest rates

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SBM's Base Rate

SBM's Prime Lending Rate

SBM's Marginal Cost of Fund Based Lending Rate(MCLR)

Interest rates for  Deposits (Rs 1.00 Cr to Rs 5.00 Cr)

Interest rates for Deposits above Rs 5.00 Cr

Interest rates on Personal Segment Advances

Interest rates on NRE Deposits and Schemes

Interest rates on SME Segment Advances

Interest rates on Agricultural  Advances

 

SBM Base Rate inrespect of all advances (other than certain exempted categories): 9.65 %( w.e.f 07.10.2015)
SBM Prime Lending Rate- SBMPLR-15.00%( w.e.f 04.03.2013)

 

S.No

Marginal Cost of Funds based Lending Rate (MCLR) 

MCLR effective from 01.07.2016

1

Overnight MCLR

9.15%

2

One Month MCLR

9.25%

3

Three Month MCLR

9.30%

4

Six Month MCLR

9.40%

5

1 Year MCLR

9.50%

6 2 Year MCLR 9.65%
7 3 Year MCLR 9.75%

 

RATES OF INTEREST WITH EFFECT FROM 01-08-2016.

FOR DEPOSITS OF LESS THAN Rs 1.00 CRORE

PERIOD

 RATE OF INTEREST (%)

7 Days to 45 days

5.50

46 Days to 90 days

6.50

91 days to 179 days

6.50

180 days to less than 210 days

6.75

211 days to less than 1 year

7.00

1 year to  less than 2 years

7.60

2 years  to less than 3 years

7.50

3 years  up to  5 years

7.50

Above 5 years and  up to  10 years

7.50

1. The revised rates are applicable for fresh deposits and renewal of maturing deposits.

2. Senior Citizens will be eligible for 0.40% extra interest for all maturities

3. The revised rates are also applicable to deposits accepted under Capital Gains Scheme,1988 . Deposits from cooperative banks and NRO Deposits.

4. Mybank Surakshana and SBM Tax Saver Scheme will also carry on interest rate of 7.50% 

Penalty for Premature withdrawal for all retail term Deposits i.e individual deposits of below Rs 1 crore:

a)  No interest shall be paid if the premature withdrawal of the deposit is within 7 days.

b)  For deposits up to the period of one year, no penalty shall be charged for premature withdrawal of the term deposit. However interest payable shall be the rate applicable for the period from which the deposit has remained with the Bank or  at the contracted rate whichever is lower.

  c)  For the deposits of above one year, the interest payable shall be 0.50% below the rate applicable for the period the deposit has remained with the Bank or at the contracted rate whichever is lower.


  Interest rates for Deposits (Rs 1.00 Cr to Rs 5.00 Cr) (With effect from 01.08.2016)

PERIOD

RATE OF INT (%)

7-45 days 5.50
46-90 days 6.50
91-179 days 6.50
180-210 days 6.50
211-364 days 6.50
1 year 6.75

Top

Interest Rates  for Deposits above Rs.5.00 crores 

                 RATES VALID FOR (01-08-2016)


PERIOD

RATE OF INT (%)

07 – 14 Days

5.50

15 – 45 Days

5.50

46 – 90 Days

6.50

91 – 179 Days

6.50

180 – 364   Days

6.50

1 Year to >2 Years

6.75

2 Years to >3 Years

6.50

3 Years to 5 Years

6.00


 In respect of premature withdrawal of domestic deposits of Rs.1 crore and above following instructions will apply.

a. Deposits of Rs.1.00 crore and above and upto Rs.10.00 crores : Premature withdrawal is permitted. However, no interest will be paid if the premature withdrawal takes place within and inclusive of 15 days. If the premature withdrawal is made after 15 days, interest will be paid at 1% below the rate of interest applicable for the period the deposit has remained with the Bank or 1% below the contracted rate , whichever is lower .

 

b. Deposits above Rs.10.00 crores : Premature withdrawal is permitted. However, no interest will be paid if the premature withdrawal takes place within and inclusive of 15 days. If the premature withdrawal is made after 15 days, interest will be paid at 2% below the rate of interest applicable for the period the deposit has remained with the Bank or 2% below the contracted rate, whichever is lower.

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PERSONAL SEGMENT ADVANCE INTEREST RATES w.e.f 01.08.16

Revised rate linked to        1 year MCLR @ 9.50%




 

HOUSING LOAN(Term Loan)  For all tenors [Max 30 years] LIMIT
(Campaign period up to 31.08.2016) Irrespective of limit [MCLR+0.1]=9.60%0.1]=9.60%
SBM Maxgain (Overdraft) Rs 25 lakhs up to 1 crore [MCLR+0.1]=9.60%0.1]=9.60%
(Campaign period up to 31.08.2016) Above Rs 1 crore [MCLR+0.2]=9.70%0.2]=9.70%
Namme Mane(Housing Loan) [MCLR+0.5]=10.00%0.5]=10.00%
Car Loan (New Car) Upto & inclusive of 7 years [MCLR+0.5]=10.00%0.5]=10.00%
Used Cars Upto 3 years [MCLR+6.55]=16.05%
3 years Upto 5 years [MCLR+7.3]=16.80%
Combo Car loan Upto & inclusive of 7 years [MCLR+0.4]=9.90%
Two Wheeler Loan Upto 5 years [MCLR+6.55]=16.05%
Education loans Upto Rs. 4.00 lakhs [MCLR+2.75]=12.25%
(0.50% concession for Girl students sanctioned on or after 01.04.2009) Rs. 4.00 lakhs to Rs. 7.50 lakhs [MCLR+2.75]=12.25%
Above Rs. 7.50 lakhs [MCLR+1.75]=11.25%
Studies in India Above 10 lacs to 30 lacs [MCLR+2.25]=11.75%
Studies Abroad Above 20 lacs to 40 lacs [MCLR+2.25]=11.75%
IBA Model Loan Scheme for Vocational Education & Training [MCLR+2.75]=12.25%
Mybank Scholar Term loan [MCLR+1.75]=11.25%
Udyogi Gnanamitra Term loan [MCLR+4]=13.50%
All Purpose Mortgage loan Over Draft [MCLR+3.6]=13.10%
Term loan [MCLR+3.1]=12.60%
Mybank Home Cash Over Draft [MCLR+5.75]=15.25%
Term loan [MCLR+5.25]=14.75%
Personal Gold loan (30% margin) [MCLR+2.45]=11.95%
Personal Gold loan (25% margin) Salaried class [MCLR+1.95]=11.45%
Personal loan Upto 3 years [MCLR+7.35]=16.85%
Xpress Credit
Customers having salary account with Corporate Salary Package With Check off facility [MCLR+3.85]=13.35%
Customers having Salary Account  without Corporate Salary Package With Check off facility [MCLR+3.85]=13.35%
Customers having Salary Account  without Corporate Salary Package Scheme Without Check off facility [MCLR+4.35]=13.85%
For Others(Without Salary Account with us/Corporate Salary Package) Without Check off facility [MCLR+6.85]=16.35%
Xpress credit SBM officers [MCLR+2.05]=11.55%
OTHERS SCHEMES
Mybank Arakshak(Police) [MCLR+6.15]=15.65%
Mybank Adhyapak(Teacher) [MCLR+6.15]=15.65%
Mybank Utsav [MCLR+6.65]=16.15%
Loan against Shares/UTI [MCLR+7.65]=17.15%
Loan against NSC/RBI Relief Bond/KVP/IVP/SBI Life Policy/SBI Magnum/LIC Policy. [MCLR+4.4]=13.90%
BDA Site purchase Loan [MCLR+5.25]=14.75%
Varshavahini Loan (upto 5yrs) [MCLR+1.65]=11.15%
Loan for Consumer Durables [MCLR+7.4]=16.90%
Helpage (Pensioner loan) [MCLR+3.5]=13.00%
Clean Overdrafts [MCLR+7.4]=16.90%
Flexi Gold Loan [MCLR+2.75]=12.25%
Rajiv Gandhi scholarship scheme Girls 12%
others 12.5%
Reverse Mortgage loan PUBLIC 11.25%
(Fixed Rate) STAFF 10.75%
Car Flex Scheme withdrawan w.e.f  21.09.2015



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Interest Rates on Advances made to MICRO & SMALL ENTERPRISES

****************************************************************************

Interest Rates on Advances made to Micro, Small & Medium Enterprises

MSME SEGMENT ADVANCES :

Schematic products: w.e.f. 01st April 2016 (linked to 1 year MCLR @ 9.50%)

INTEREST RATES ADVANCES TO MICRO, SMALL & MEDIUM ENTERPRISES - INDUSTRY AND SERVICES SECTOR.

All Interest rates, MCLR expressed in terms of - % p.a.

1.a : SME Four wheeler (New Vehicle)

Applicable Interest rate

Remarks

MCLR + 0.60= 10.10

(Available only to existing borrowers with extension of charge against securities mortgaged to the Bank)

1.b : SME Four Wheeler Loan (Used Vehicles)

Period

Applicable interest rate

Up to 3 years

MCLR+7.15 = 16.65

Above 3 years and up to 5 years

MCLR+7.65 = 17.15

 

2. SBM DOCTOR PLUS

2. a. (i) Limits upto Rs.25.00 lacs with scoring model (without CRA) ( WC & TL)

Score

Interest rate for loans upto 3 years

Interest rate for loans above 3 years

and upto 5 years

Interest rate for loans

above 5 years

With CGTMSE

With CGTMSE

With CGTMSE

55 and above

MCLR+1.10=10.60

MCLR+1.35 = 10.85

MCLR+1.60 = 11.10

40 to 54

MCLR+1.70=11.20

MCLR+1.95 = 11.45

MCLR+2.20 = 11.70

Interest rate for loans upto 3 years

Interest rate for loans above 3 years and upto 5 years

Interest rate for loans

above 5 years

CRA

With CGTMSE (where ever applicable)

With Collateral Security

With CGTMSE

(where ever applicable)

With Collateral Security

With CGTMSE

(where ever applicable)

With Collateral Security

=  > 50%

= < 50%

 

=  > 50%

= < 50%

 

=  > 50%

= < 50%

SB 1 TO 5

MCLR+1.10=10.60

MCLR+1.10 =10.60

MCLR+1.60 =11.10

MCLR+1.35=10.85

MCLR+1.35=10.85

MCLR+1.85=11.35

MCLR+1.60=11.10

MCLR+1.60

=11.10

MCLR+2.10

=11.60

SB 6 TO 9*

MCLR+1.95=11.45

MCLR+1.95 =11.45

MCLR+2.45 =11.95

MCLR+2.20=11.70

MCLR+2.20=11.70

MCLR+2.70=12.20

MCLR+2.45

=11.95

MCLR+2.45

=11.95

MCLR+2.95

=12.45

2. b. (i) Limits Rs.25.00 lacs and above and up to Rs.10 crore with CRA (WC & TL)

*Units with rating below SBM 9 are not eligible for financing

3.SME Smart Score: (Min. Rs.5.00 lakhs and Max. finance: Rs.100 lakhs).

(Minimum Score 60)

Limit

Scoring / Rate

Interest rate for loans upto 3 years.

Interest rate for loans above 3 years and upto 5 years

Interest rate for loans above 5 years


Rs.5 lacs  toRs.25.00 lacs

 

 

55 and above

MCLR+1.35=10.85

MCLR+1.60=11.10

MCLR+1.85=11.35

40 to 54

MCLR+1.60=11.10

MCLR+1.85=11.35

MCLR+2.10=11.60

Rs. 25 lacs and above upto Rs.100 lacs

SB 1 to 5

 

MCLR+1.35=10.85

MCLR+1.60= 11.10

MCLR+1.85=11.35

SB 6 - 10

MCLR+1.60=11.10

MCLR+1.85 = 11.35

MCLR+2.10=11.60

 

4. LIBERALISED TRADE FINANCE (Min. Rs.10 lacs, Max: Rs. 500 lacs)

Facility

Applicable interest rate.

Cash Credit (SBF)

MCLR+3.20=12.70

Term Loan (SBF)

MCLR+3.45=12.95

  1. 5. Beverages Corporation Scheme - (Max finance : Rs.100 Lacs).

5. a. Loan amount up to Rs.10.00 Lacs:

Applicable interest rate

MCLR + 1.35 = 10.85

5. b. Loan amount above Rs.10.00 Lacs to Rs.100.00 Lacs.

Value of Security

Applicable interest rate

> 100%

MCLR + 2.45 = 11.95

> 50% and upto 100%

MCLR + 2.95 = 12.45

  • For Loans above Rs.10.00 Lacs, Collateral Security < 50% : No finance

 

6. Contractor Plus – (Max finance: Rs. 100 Lacs - For Class I contractors only).

Type of Borrowers

Applicable interest rate

With CGTMSE

With collateral

Class I Contractors

MCLR+3.00=12.50

MCLR+3.75=13.25

7. Mortgage Plus (Min. finance: Rs.50 Lacs and Max: Rs. 750 Lacs).

 

Applicable Interest rate

Term Loan SBF

MCLR+2.90=12.40

Over draft - SBF

MCLR+3.65=13.15

 

OTHER MSME SCHEMES/PRODUCTS:

  1. 8. MSE Welcome:

Interest Rate upto SBM 6 rating

Interest Rate - SBM 7 & 8 rating

For  the first year  interest  fixed at 75 bps above 1 year MCLR (presently 9.50%), effective rate - 10.25% p.a.

For  the first year  interest  fixed at 125 bps above 1 year MCLR (presently 9.50%), effective rate 10.75% p.a.

For   the   second  year,   interest  will be reset at the end of the first year and linked to the then 1 year MCLR, so as to charge interest at 10.50% p.a.

For   the   second  year,   interest  will be reset at the end of first year and linked to the then 1 year MCLR, so as to charge interest at 11.00% p.a.

From third year onwards, interest will be reset linked to the then 1 year MCLR, based on the CRA rating of the borrower.

From third year onwards, interest will be reset linked to the then 1 year MCLR, based on the CRA rating of the borrower.

  1. 9. Weavers credit card:

Weavers credit card

Applicable rate of Interest

MCLR + 0.75 = 10.25

  1. 10. MYBANK-Homestay:

Type of loan

Applicable interest rate

Composite Term Loan

MCLR + 1.15 = 10.65

11.MYBANK SHOPPE :

Type of Loan

Interest rate for loans upto 3 years

Interest rate for loans above 3 years

and upto 5 years

Interest rate for loans

above 5 years

Term Loan Limit

With CGTMSE

Without CGTMSE

With CGTMSE

Without CGTMSE

With CGTMSE

Without CGTMSE

Up to Rs.10 lacs

MCLR+1.40=10.90

MCLR+1.40=10.90

MCLR+1.65=

11.15

MCLR+1.65=

11.15

MCLR+1.90=11.40

MCLR+1.90=

11.40

Above Rs.10 lacs upto Rs. 25 lacs

MCLR+1.90=11.40

MCLR+2.40=11.90

MCLR+2.15=

11.65

MCLR+2.65=

12.15

MCLR+2.40=11.90

MCLR+2.90=

12.40

CRA

Rating

Interest rate for loans upto 3 years

Interest rate for loans above

3 years

and upto 5 years*

Interest rate for loans

above 5 years.$

With

CGTMSE

Without

CGTMSE

With

CGTMSE

Without

CGTMSE

With

CGTMSE

Without  CGTMSE

SB 1,2 & 3

MCLR+1.90=11.40

MCLR+2.15=11.65

MCLR+2.15=11.65

MCLR+2.40=11.90

MCLR+2.40=11.90

MCLR+2.65=12.15

SB 4,5 & 6

MCLR+2.40= 11.90

MCLR+2.65=12.15

MCLR+2.65=12.15

MCLR+2.90=12.40

MCLR+2.90=12.40

MCLR+3.15=12.65

SB 7,8 & 9

MCLR+2.90=  12.40

MCLR+3.40=12.90

MCLR+3.15=12.65

MCLR+3.65=13.15

MCLR+3.40=12.90

MCLR+3.90=13.40

SB 10

MCLR+3.65= 13.15

MCLR+4.40=13.90

MCLR+3.90=13.40

MCLR+4.65=14.15

MCLR+4.15=13.65

MCLR+4.90=14.40

SB 11 to 16

MCLR+4.90= 14.40

MCLR+5.40=14.90

MCLR+5.15=14.65

MCLR+5.65=15.15

MCLR+5.40=14.90

MCLR+5.90=15.40

11. b Limits Rs.25 lacs and above and  upto Rs.50 lacs (Term Loan limit)

12. SBM PHARMA.

  1. 11. a.  Limits below Rs.25 lacs (Working Capital limit).

 

Applicable interest rate

MCLR+1.80= 11.30

 

12.b  Limits Rs.25 lacs and above and  upto Rs. 100 lacs (Working Capital limit). 

CRA

Applicable interest rate

SB 1 to 5

MCLR + 1.80 = 11.30

SB 6 to 10

MCLR + 2.30 = 11.80

*Concession of 0.50% for 50 bps in RoI is to be given in case the value of collateral is more than 75%

 13. FINANCING AGAINST WARE HOUSE RECEIPTS

Limits above Rs.50 lacs and upto Rs.500 lacs (Working Capital limit).

 

Applicable rate of Interest

MCLR+1.00= 10.50

 

2.c Concession in interest rate @ 0.50% on the revised rates shall be extended to   credit limits above Rs.10 lacs secured by Non – Agricultural collateral security with realizable value =>75% of credit limit.

OTHER CONDITIONS:

i) Limits  up to Rs.100 lacs are to be MANDATORILY covered under CGTMSE (SME Circular No.5 / 12-13 dated 18.05.2012) and guarantee fee will be borne by the Bank for loan limits up to Rs.50.00 Lacs (MSME Circular No:33/2014-15 dt. 16.10.2014)

ii) Concessional Rate of 0.50% for credit limits with collateral coverage of 75% or more:

The concession, over and above the revised rates, as indicated in para  2.c of Annexure- 2 above will be subject to the undernoted stipulations/conditions

a) Available only to units with CRA rating below the hurdle SB-10.  Credit limits with CRA rating of SB11-16 are NOT eligible for the concession.

b) The value of tangible collateral security refers to realizable value of such securities (and NOT market value) available by way of non-agricultural immovable property with or without cash and other specific liquid securities. Such realizable value should be 75% or more.

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AGRICULTURAL RATE OF INTEREST W.E.F 01-05-2015.

A. Short Term Loans upto 3 years / Crop Loans (Limit below Rs.25.00 Lakhs)

Limit 

Rate of interest (%)

Upto Rs.3 lakh (if qualify for interest subvention)

 Upto Rs.3 Lakh (if not qualify for  interest subvention)

7.00*

10.75

> Rs.3 lakh to upto Rs.5 lakh

10.75

> Rs.5 lakh to <    Rs.25 lakh

12.25

* In case of Crop Loans and loans to Woman SHG eligible for interest subvention, 7% interest is applicable up to a limit of Rs. 3 lakh. Further additional 3% interest subsidy is available to those Farmers/ Women SHG who repay the limits promptly as per terms of loan, making up effective rate of 4%.

 

B. Short Term Loans up to 3 years / Crop Loans (Limit Rs.25.00 Lakh and above)

As per rating starting from 11%

 C: Agriculture Term Loans (Limit below Rs.25.00 Lakh)

Limit in Rs.

Rate of interest (%)

Up to Rs.5 lakh

11.00

> Rs. 5 lakh to  <  Rs. 25 lakh

12.50

  

D: Agriculture Term Loans (Limit Rs.25.00 Lakh & above)

As per rating starting from 11.25%

 

E: Agriculture Gold Loan

Limit

Rate of interest (%)

Upto Rs.3 lakh (if qualify for interest subvention)

 

If not qualifying for interest subvention, up to Rs.5 lakh

7.00

10.25

> Rs.5 lakh to upto Rs.15 lakh

10.35

  

F: KISAN CHAKRA - Up to Rs.10 lakh only for a maximum period of 7 years.

 

Limit

Rate of interest (%)

Up to Rs.10.00 Lakh

10.50

G: ADVANCE TO INPUT SUPPLIERS

Limit

Rate of interest (%)

Upto Rs.25.00 Lakh

11.00

> Rs.25.00 Lakh to up to Rs.5.00 Crores

11.25

  

H-a: Loan for Construction of Green House/Polyhouse/Nethouse:

(Limit upto Rs.2.00 Crores) for Individuals

Limit

Rate of interest (%)

Upto Rs.2.00 Crores

11%

H-b: Loan For Construction of Green House/Polyhouse/Nethouse:

(Limit below Rs.25.00 Lakh) for other than Individuals

Limit – For Other than Individuals

Rate of interest (%)

Below Rs.25.00 Lakh

11%

I-c: Loan For Construction of Green House/Polyhouse/Nethouse:

(Limit Rs.25.00 Lakh & up to Rs.2.00 Crores) -  for other than Individuals

As per rating starting from 12.00%

I: Other Product Specific Rates

Apart from Specific products mentioned above, all other product specific rates will be guided by Table (A) to (D) above.

 

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NRE Term / Reinvestment Deposit account( w e f 18.04.2015)

PERIOD OF DEPOSIT

INTEREST   RATE (% p.a.)

1 year and up to 3 years

7.60

Above 3 years up to 5 years

7.50

Above 5 years up to 10 years

7.50


i)The revised rates are applicable to fresh deposits and on renewal of maturing deposits.Note: All these interest rates are subject to change without notice. The revised interest rates are applicable only on fresh deposits and renewal of maturing deposits.

ii)  In case of Premature withdrawal:

  1. No interest is payable if the deposit is withdrawn before one year
  2. In other cases of premature withdrawal, the interest paid shall be 1.00% below the rate
    applicable for the period the deposit has remained with the Bank or 1.00% below the
    contracted rate, whichever is less.

Interest Rates on FCNR(B) deposits with effect from 01.08.2016

PERIOD

RATE OF INTEREST ( % p.a. )

USD

GBP

EUR

CAD

AUD

1 Year & above but less than 2 Years

1.87

1.36

0.83

1.95

2.80

2 Years & above but less than 3 Years

1.94

1.49

0.81

1.97

2.76

3 years & above but less than 4 Years

3.00

2.50

1.82

2.97

3.75

4 Years & above but less than 5 Years

3.07

2.53

1.85

2.99

3.92

5 Years Only

3.13

2.57

1.90

3.02

3.95


Interest Rates on RFC deposits with effect from 01.08.2016

TYPE/ PERIOD OF DEPOSIT

RATE OF INTEREST (% p.a.)

USD

GBP

EURO

Current Account

NO INTEREST

Savings Bank Account

0.50

0.50

0.25

Term Deposits

 

1 year   & above but less than 2 years

1.87

1.36

0.83

2 years & above but less than 3 years

1.94

1.49

0.81

3 years & above but less than 4 years

3.00

2.50

1.82

4 years & above but less than 5 years

3.07

2.53

1.85

5 years only

3.13

2.57

1.90


 
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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

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