The State Bank of Mysore is a nationalised bank in India, with headquarters at Bangalore. It is one of the five associate banks of State Bank of India.

State Bank of Mysore has the most irresistible home loan scheme as it is customized based on individual income situation, the customer’s current credit rating as well as the savings made so far.

Purpose of SBM Home Loan:

Building or buying of a new apartment, flat or house
Extension, maintenances, renovation, and/ or repairs
To buy a plot for constructing a house in two years
To buy constructed houses (less than 15 years old)
Home loan against II charge
To procure furniture and remaining consumer durables as part of the total cost of the project

Loan amount:
Loan amount subject to following EMI/NMI ratio:

Net Annual Income Rs. Permissible EMI/NMI Ratio
Upto.60,000/- 20%
> Rs.60,001/- <=Rs.1,20,000/- 25%
> Rs.1,20,001/- to < =Rs.2 lacs 30%
> Rs.2 lacs to < =Rs.5 lacs 50%
> Rs.5 lacs to < =Rs.10 lacs 55%
>= Rs.10 lacs 65%


State Bank Of Mysore Home Loan Details
Interest Rate 9.60% to 9.70%
Processing charges 0.50% - with a maximum of Rs.7500
Loan Tenure 30 years
Partial pre-payment Charges Nil
Pre-closure Charges Nil