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April 3rd, 2017, 03:51 PM
Super Moderator
 
Join Date: Mar 2012
Re: State Bank of Mysore Home Loan

Here I am giving complete details about Home Loan offers by State Bank of Mysore for your reference:

Purpose for Home Loan:
Construction or Purchase of a new house or flat
Repairs / Renovation / Extension of existing house
For purchase of plot for construction of house within two years
For purchase of built houses not more than 15 years old
Housing loan against II charge
For Purchase of Furnishings / Consumer durables as part of the project cost

Interest Rate:

Housing Loan Maxgain Campaign period 01.10.2016 to 30.11.16
Rs. 25 Lacs and upto Rs. 1 crore(inclusive) 9.55%(10bps above 1 year MCLR)
Above Rs. 1 crore 9.65%(20bps above 1 year MCLR)

Loan amount
Loan amount subject to following EMI/NMI ratio.
Net Annual Income Rs. Permissible EMI/NMI Ratio
1) Upto.60,000/- 20%
2) > Rs.60,001/- <=Rs.1,20,000/- 25%
3) > Rs.1,20,001/- to < =Rs.2 lacs 30%
4) > Rs.2 lacs to < =Rs.5 lacs 50%
5) > Rs.5 lacs to < =Rs.10 lacs 55%
6) >= Rs.10 lacs 65%

Loan Term Maximum 30 Years
Interest type (fixed or floating) Floating Rate

Interest chargeable
Limit up to Rs.1 Crore MCLR+0.10=9.55
Limit above Rs.1 Crore MCLR+0.15=9.60
Rates are applicable during campaign period from 01.10.2016 to 30.11.2016

Mode of communication of changes in interest rates Website/SMS/News paper

Fee payable
Processing fee at 0.50% Max. of Rs.7,500/-
(Processing fee waived for the campaign period 01.10.2016 to 30.11.2016)

On application No Charges

During the Term of the loan
a) Inspection charge for Rs.25001/-to Rs.2.00 lacs.225/- per Inspn. Max. Rs.600/-p.a.
b) Above Rs.2.00 lacs to Rs.10.00 lacs Rs.275/- per inspection Max. Rs.1250/- p.a.
c) Above Rs.10.00 lacs to Rs.25.00 lacs Rs.500/- per inspection Max. Rs.3500/- p.a.
d) Above Rs.25 lacs Rs.600/- per inspection Max Rs.6000/- p.a.

On foreclosure No Charges

Fee refundable if loan not sanctioned/disbursed Non refundable

EMI payable
Rs,845/- per lakh (30 Years) @ 9.55%
Rs,849/- per lakh (30 Years) @ 9.60%

State Bank of Mysore Home Loan Application Form








Contacts
Chief Manager
State Bank of Mysore
Personal & Services Banking Department
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901 extn.380
Fax: 91 80 22283684
Email:cmpsb@sbm.co.in


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