State Bank of Mysore

Trusted Service
Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /var/www/html/statebankofmysore.co.in/libraries/joomla/utilities/date.php on line 198

SBM School Plus

A new scheme for Construction / Renovation / Repairing of School/College Buildings; Purchase of electronic equipments such as Computers, Laboratory Equipments, Library Books etc.,

SBM School Plus

Salient features of the scheme:

Nature of facility
Demand Loan / Term Loan

Eligible Customers
Educational Institutions with adequate source of income

PurposeConstruction / Renovation / repairing of school/College buildings; Purchase of Electronic equipments such as computers; Laboratory Equipments, Library books etc.,

Quantum of Finance
Minimum Rs.50000/-
Maximum Rs. 25.00 lacs

Margin
15% of the cost

Period of repayment
Maximum period of 7 years

Rate of interest (wef 10.04.07)

Amount Rate of Interest(%)
Upto Rs. 2.00 lacs 12.25%(1% below SBMPLR, ie. 13.25-1.00 =12.25%)
Above Rs. 2.00 lacs & upto Rs. 25.00 lacs
a) Repayable in less than 3 years At SBMPLR ie. 13.25%
Repayable in 3 years & above 13.75%(0.5% above SBMPLR ie. 13.25+0.50=13.75%)

Primary Security
Equitable mortgage of the immovable property / hypothecation of assets acquired out of the Bank loan.

Collateral Security
Personal guarantee of key persons / Trustees / Promoters. Equitable mortgage of immovable property.

Insurance
Adequate Insurance cover to be obtained.


Contact your nearest Branch of State Bank of Mysore or

Chief Manager
State Bank of Mysore
Commercial & Institutional Banking Department
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901 to 22353909 ; 22353473.extn.378 ; 22259759
Fax: 91 80 22262361
Email:cmci@sbm.co.in

 

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
BCMath lib not installed. RSA encryption unavailable