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Old October 6th, 2016, 11:29 AM
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Join Date: Dec 2012
Default Re: State Bank Of Mysore Loan Against Property

The State Bank of Mysore has an extensive network of 1,022 branches and 9 extension counters all over India.

The bank provides various services and products to meet all the financial needs of their customers.

Mortgage loan is one such product that they provide to their customers who wish to supplement their income.

Mortgage Loan:

Eligibility:

Customers is Individuals, employees, professionals, self-employed and others who are income tax assessed 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.

AGE
Maximum age - 65 years.

Loan Amount
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

Interest rate:
Overdraft loan- 13.25%
Term loan - 12.75%

Type of Loan
Term loan or current account overdraft

Margin
50% of the market value of the security

Period of Repayment
Repayable in 84 equated monthly instalments

Documents Required for State Bank of Mysore Mortgage Loan:

Application form duly filled.
Identity proof - either passport, PAN card, employee identity card or other valid proof
Address proof - either electricity bill, telephone bill, ration card or other valid proof.
PAN card copy
Property papers that is the ownership proof and title deed
3 passport sized photographs.
Any other required documents as expressed in the application form must be submitted.

Contact to:

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
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