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/ on line 198

Personal Loans

Individuals, employees of state / central government, Public Sector undertakings, reputed profit making Public limited companies, Multi national companies with a minimum service of two years and drawing a net salary of Rs. 6,000/- or above.

To meet personal expenses like marriage, family functions, medical expenses, travel etc.,

Loan Amount
Upto Rs. 1.50 lacs depending on repayment capacity of the individuals.

Third party guarantee of equal means. Securities like LIC policies, NSC, KVIP, Shares etc.,

Period of Repayment
12 months to 36 months.

Type of Loan
Demand loan.

Rate of Interest <--Click here for details

Processing Fee
1% of loan amount (one time).


PERSONAL LOAN(Xpress credit)


Loan amount

Rs 25,000- to Rs 15,00,000/-


Loan term

60 Months


Interest type                                                        (fixed or floating)



a) Interest chargeable                                           (in case of floating Rate Loan)



With Corporate salary package& with check off facility.

3.85% above MCLR,presently 13.30%


Salary account without Corporate salary package& with check off facility.

3.85% above MCLR, presently 13.30%


Salary account without Corporate salary package& but salary account with us but without check off facility.

4.35% above MCLR,presently 13.80%


For others/without  Salary Account with us/Corporate salary package.

Without check off facility

6.85 % above Base Rate,presently 16.30%


b)Interest chargeable                                            (in case of Fixed Rate Loan)



Date of reset of interest



Mode of communication of changes in               interest rates

Website,SMS,New paper


Fee payable



On application

0.50% of the loan amount to be  recovered upfront


During the Term of the loan



On foreclosure



Fee refundable if loan not                                  sanctioned/disbursed



Conversion charges for switching from               floating to fixed and vise-versa



Penalty for delayed payments

For loans above Rs.25,000/- if the irregularity exceeds EMI or instalment amount, for a period of one month, then penal interest would be charged @2% p.a. (over and above the applicable interest rate) on the overdue amount for the period of default.  If part instalment or part EMI remains overdue , then penal interest will not be levied


EMI payable



With Corporate salary package& with check off facility.

Rs 2291/- per lac


With Corporate salary package& without check off facility.

Rs 2291/- per lac


Without Corporate salary package& but salary account with us .

Rs 2317/- per lac


Without Corporate salary package&  salary account not  with us .

Rs 2448/- per lac


Details of Security/collateral obtained

Third party guarantee of equal means


Date on which annual outstanding balance statement will be issued

31th  March



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

You are here: Home Advances Personal Banking Personal Loans

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