State Bank of Mysore

Trusted Service

Personal Banking

Welcome to State Bank of Mysore's Personal Banking.
Your dream house or a flat, family size car, two wheeler, consumer durables, Children's education, Children's marriage and any such needs. Do not Worry - you have a loan product from the range of our loan schemes.

Personal Loan

Mortgage Loan

Housing Loans

Happy Home

Gnanamitra Education Loan

Mybank Scholar Loan

Loan for purchase of residential site / plot

MYBANK ADHYAPAK - Personal loan scheme to teachers

MYBANK ARAKSHAK - Personal loan scheme to police personnel

MYBANK UTSAV - Personal loan scheme to celebrate Festivals

SBM Car Loan Scheme - For purchase of new and used cars

GAGAN MITRA - New personal loan for Pilot & Air hostess training

Mybank Udyogi Gnanamitra - New personal segment advance for employed persons to undertake higher studies

Other Services


Cash Key
To meet unforeseen expenses, without premature withdrawal of term deposit. Immediate overdraft facility is available

ATM Facility
Round the clock  ATM facility for customers of Bangalore city and different parts of the country.

Interest Rates: Schemes and interest rates are subject to changes from time to time


Loan for purchase of residential site / plot

Eligibility
Individuals not above the age of 60 years with a steady source of income

Purpose
To purchase site / plot by BDA / Housing Board / District Urban Development Authority / City Improvement Trust Board / Municipal Corporation / State Development Authority, on first sale only

Loan Amount
24 times net monthly income / 2 years annual income (subject to production of satisfactory proof) or 80% of the cost of the site whichever is less

Income of Spouse
For arriving the quantum of loan, income of the spouse may be considered where the allotment will be in single name and spouse stands as guarantor

Other Income

Regular income of the borrower from all sources can be considered subject to the satisfactory proof of the income

Margin
20% of the cost of site / plot

Type of Account
Medium Term Loan Account

Repayment
Maximum of 60 months in equated monthly instalments

Interest Rates <-- Click here for details

Processing Fee
Rs. 500/- flat per account

Security
Equitable Mortgage of the site / plot to be purchased

Other Conditions

a) The letter of allotment / agreement for sale from the Housing Board / BDA / District Urban Development Authority / City Improvement Trust Board etc., should be obtained

b) A letter signed by the allottee duly expressing his / her intention to create the Mortgage (equitable / registered) in favour of the Bank to be obtained and forwarded to the allotting agency

c) The said letter should also contain a direction to the allotting agency to hand over the Documents directly to the Bank / Bank's Representative after registration of the property

d) A letter of undertaking to be obtained from the site allottee to the effect that a house will be constructed in due course and the relative site will not be sold on commercial consideration

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MYBANK ARAKSHAK

Personal loan scheme for Police Personnel
This scheme is introduced to assist the Police Personnel to avail the loan hastle free

Eligibility
All Police Personnels (Permanently employed)

Purpose
Personal loan for any purpose including purchase of consumer durables

Loan Amount
10 times net monthly income with a maximum of Rs.1.50 lac

Income of Spouse
Spouse income may be considered to arrive at the eligible loan amount provided spouse is also employed (permanent employment) and stands as guarantor

Type of Account
Demand Loan Account

Margin
Nil

Repayment
Maximum of 36 months in equated monthly instalments

Interest Rates <-- Click here for details

Processing Fee
Rs.250/- flat.

Security
Upto Rs.25,000/- Nil
Above Rs.25,000/- check off facility. NSC,LIC policy may be insisted for security wherever possible or third party guarantee of equal means

Other Conditions/Requirements
Loan Recovery through check off facility

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MYBANK ADHYAPAK

Personal loan scheme for teacher community

Eligibility
Permanent Teachers / Non-Teaching Staff of Central / State Govt. Educational Institutions and also Teachers and Non-Teaching Staff of Govt. Recognised Schools / Colleges / Aided Institutions

Purpose
Personal Loan for any purpose including purchase of consumer durables

Loan Amount
10 times net monthly income with a maximum of Rs.1.00 lac

Income of Spouse
Spouse income may be added to arrive at the eligible loan amount provided spouse is also employed and stands as guarantor.

Type of Account
Demand Loan Account

Margin
Nil

Repayment
Maximum of 36 months in equated monthly instalments

Interest Rates <-- Click here for details

Processing Fee
Rs.250/- flat

Security
Upto Rs.25,000/- Nil (only Check off facility).
Above Rs.25,000/- check off facility. NSC,LIC policy may be insisted for security wherever possible or third party guarantee of equal means

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MYBANK UTSAV

Personal loan scheme for individuals for meeting expenditure related to Festivals

Eligibility
a)Employees of State / Central Govt.,/ PSUs / profit making Public / Private Ltd., Companies, Institutions etc., with a minimum of 2 years service.
b)Self employed persons with a minimum 3 years standing / experience.
c)Persons having regular source of income from verifiable channels like Pensions and Interest on TDRs / NSCs / Govt. Securities etc.,

Purpose
Loan to individuals for meeting expenditure related to Festivals

Minimum Net Income
Net Monthly Income (NMI) of Rs.3000/- & above

Loan Amount
Four times the net monthly income with a minimum of Rs.5000/- and a maximum of Rs.50,000/- (Borrowers other than salaried people should produce acceptable proofs with respect to their annual income)

Security
Primary - Nil
Collateral - personal guarantee of the spouse if employed, or any other person of adequate worth where check off facility is not available

Repayment Period
Maximum of 12 months through EMIs. No penalty for prepayment

Interest Rates <-- Click here for details

Processing Fee
Rs.100/- per application

Type of Loan
Clean Demand Loan

Disbursement
To the borrowers by credit to their account

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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: This e-mail address is being protected from spambots. You need JavaScript enabled to view it


 
You are here: Home Advances Personal Banking

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