State Bank of Mysore provide Home Loan for Construction or Purchase of a new house or flat.

Housing Loan

You can avail a loan for

Construction or Purchase of a new house or flat

For purchase of plot for construction of house within two years

Repairs / Renovation / Extension of existing house

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

Maxgain

Rs. 25 Lacs and upto Rs. 1 crore(inclusive) -
9.60%(10bps above 1 year MCLR)

Above Rs. 1 crore -
9.70%(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 (in case of floating Rate Loan) -

9.60%(10bps above 1 year MCLR)

Fee payable -
Processing fee at 0.50% Max. of Rs.7,500/-

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.

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 22353901 extn.380
Fax: 91 80 22283684
Email:cmpsb@sbm.co.in