Top Banks 2024
State Bank of Mysore Bengaluru
Last Updated : June 22, 2017, 3:27 p.m.
About State Bank of Mysore
State Bank of Mysore is one of the leading public sector banks in India that has been in the field of banking and financial services since 1913. The bank has its headquarters at Bengaluru and has now reached a level of more than 1074 branches spread across the nation. In 1960, the bank became one of the associate banks of State Bank of India and hence holds a vital role in the banking sector.
At the end of the year 2016, the bank has had the total deposit of State Bank of Mysore was more than ₹80 Crores and the total advances stood at ₹53,584 crores that include export credit of ₹1424 crores. State Bank of Mysore is a major player in Foreign exchange dealings and has a recorded a merchant turnover of ₹55,353 crores and a trading turnover of more than ₹5 lakh crores during the nine months ended December 2016. Read this article to know more about the bank and its products in the Bengaluru city.
State Bank of Mysore Bengaluru Branches
| Branch Name | Complete Address | IFSC | MICR | Contact Number |
|---|---|---|---|---|
| M.G.Road, Bangalore | Shrungar Shopping Centre, M.G.Road Bangalore - 1 | SBMY0040006 | 560006061 | 080-25587463 |
| Bangalore | Avenue Road Bangalore - 560009 | SBMY0040007 | 560006002 | 080-2264561 |
| Banashankari | Jayanagar Bangalore - 560082 | SBMY0040008 | 560006003 | 080-6343296 |
| Chamarajpet | Bangalore - 560018 | SBMY0040009 | 560006010 | 080-6611704 |
| Chickpet | Bangalore - 560053 | SBMY0040010 | 560006011 | 080-2871528 |
| Cleveland Town | Bangalore 560005 | SBMY0040011 | 560006013 | 080-5554668 |
| Jayanagar | 3rd Block Jayanagar Bangalore - 560011 | SBMY0040012 | 560006022 | 560006022 |
| J C Road | Bangalore - 560002 | SBMY0040013 | 560006023 | 080 - 2224675 |
| Basavanagudi | 73 K R Road Bangalore - 560004 | SBMY0040014 | 560006006 | 080-26609285 |
| B. R. Market | Bangalore - 560002 | SBMY0040015 | 560006007 | 080-2211010 |
| L C Road | 2 L C Road Bangalore - 560001 | SBMY0040016 | 560006026 | 080-25591037 |
| Malleswaram | 2Nd Cross, Malleswaram, Bangalore - 3 | SBMY0040017 | 560006030 | 080-23443794 |
| Fort | Bangalore - 560002 | SBMY0040018 | 560006018 | 080-6701235 |
| City | Bangalore - 560053 | SBMY0040019 | 560006012 | 080-2871521 |
| Richmond Road Branch | Bangalore - 560027 | SBMY0040021 | 560006035 | 080 - 2211975 |
| Dr.Ambedkar Veedhi | Visveswaraya Tower Bangalore - 1 | SBMY0040022 | 560006062 | 080-22867663 |
| Whitefield | Bangalore - 560066 | SBMY0040023 | 560006048 | 080-8452210 |
| Wilson Gardens Branch | Bangalore - 560027 | SBMY0040024 | 560006047 | 080-2236889 |
| HMT Indl Estate | Bangalore - 560031 | SBMY0040028 | 560006049 | 080-8389311 |
| Hanumanthanagar | Bangalore 560019 | SBMY0040159 | 560006020 | 080-6673756 |
| Vayalikaval | Bangalore 560003 | SBMY0040163 | 560006045 | 080-3442803 |
Products Offered by State Bank of Mysore in Bengaluru
State Bank of Mysore offers a wide array of products under loan segment as well as investment. The bank offers the following kind of loans: home loans, personal loans, gold loans, education loans, mortgage loans, business loans (Mudra loans), etc. with low-interest rates and higher loan amount facility. Other than this, SBM offers investment products like Fixed Deposits that give people the possibility to earn from their saving itself. So, have a look at the basic details like the eligibility criteria, minimum and maximum amount, interest rate, processing fee, tenure, and documents required for all the products offered by State Bank of Mysore in Bengaluru.
State Bank of Mysore Product Details
| Product | Eligibility | Amount | Interest Rate | Processing Fee | Tenure |
|---|---|---|---|---|---|
| Home Loan | An applicant can apply for a home loan at the bank for the following purposes: 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 | Above ₹25 lakhs | 9.15% - 11.30% | 0.50% Max. of ₹7,500/- | Up to 30 years |
| Personal Loan | The applicant eligible for a personal loan at the bank are as follows: 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 ₹6,000/- or above. | Up to ₹15 lakhs | 11.00% - 14.00% | 1% of the loan amount (one time) | Up to 5 years |
| Car Loan | Salaried: The age of the applicant must be between 21-60 years The minimum net monthly salary of the applicant should be ₹10,000 The applicant must have the minimum work experience of 2 years with a minimum of 1 year with the current employer Self-employed: The age of the applicant must be between 21-70 years The minimum annual income of the applicant should be ₹1 lakh Minimum 2-3 years in the same profession | 48 times NMI subject to EMI/NMI ratio of 50% No upper limit | 7.20% - 7.90% | 0.20% of loan amount Minimum ₹500/- Maximum ₹10,000/- | Up to 7 years |
| Business Loan (Mudra Loan) | Financial Assistance to a start-up project (first time entrepreneur) with a minimum of one SC/ST and one woman (any category) entrepreneur, per bank branch. The enterprise may be in the non-farm sector i.e. manufacturing, services or trading sector. In case of non-individual enterprises, at least 51% of the shareholding and controlling stake should be held by either a member of the SC/ST community or Woman entrepreneur. | Ranging from ₹10 lakhs to ₹1 Crore for Greenfield enterprises (new ventures) by funding up to 75% of the project cost. | 11.65% + tenor premium | NIL | Up to 5 years |
| Loan Against Property | Individuals, employees, professionals, self-employed and others who are income tax assessee whose net monthly income is of ₹ 12,000/- for salaried persons or net annual income of ₹1,50,000/- in case of others and self-employed. Maximum age - 65 years. | ₹1.00 lac to ₹ 50.00 lacs | 11.75%-12.25% | 1.25% of the loan amount (one time) | Up to 7 years |
| Fixed Deposit | Individuals, excluding NRI customers | Above ₹100 | 2.90% - 6.20% | NA | 15 days to 10 years |
| Education Loan | Diploma / Graduate / Post-graduate courses in the faculties of Engineering, Technology, Architecture, Medicine, Dental Science, Agricultural Science, Veterinary Science and Computer Certificate courses of reputed institutes accredited to department of electronics or affiliated to university | Up to ₹40 lakhs | 11.40% | - | Completion of course + 1 year or 6 months after getting a job, whichever is earlier |
| Gold Loan | The age of the applicant should be at least 21 years | Minimum ₹2500/ for Rural & Semi-urban, ₹5,000/- for Urban & Metro Maximum: ₹10,00,000/- | As per bank’s guidelines | 0.20% With a minimum of ₹500/- and maximum of ₹1000/-(Inclusive of Appraiser charges of ₹50 to ₹300) | Up to 30 months |
Documents Required
Below are the list of all the documents according to the product the applicant is applying for.
| Product | Documents |
|---|---|
| Home Loan | Salaried: ID Proof: Passport /Pan Card/ Voter ID Card /Driving License Address Proof:Passport/Ration Card /Utility Bill Residence Ownership Proof:Property Documents/Maintenance Bill/Electricity Bill Income Proof: Latest 3 months Salary Slips and Form 16 Work Experience: Current Employment Certificate /Current Job Appointment letter (if it is more than 2 years) /Experience Certificate (including your previous job certificate or appointment and relieving letter) Latest 1 year statement where your salary is getting credited Copy of agreement executed / Sale Deed, Share Certificate, Latest Maintenance Bill, List of documents & sanction letter given by Existing Banker (If Applicable) Processing Fee Cheque Investment Proof: Fixed Deposit/Shares/Fixed Assets, etc. Passport size photos Self-employed: ID Proof: Passport /Pan Card/ Voter ID Card /Driving License Address Proof: Passport/Ration Card /Utility Bill Residence Ownership Proof: Property Documents/Maintenance Bill/Electricity Bill Income Proof: Latest 3 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc. Business Existence Proof: 3 years old Saral Copy /Shop Establishment Act /Any Tax Registration Copy /Company Registration license Latest 1 year bank statement both current and savings Copy of agreement executed / Sale Deed, Share Certificate, Latest Maintenance Bill, List of documents & sanction letter given by Existing Banker (If Applicable) Processing Fee Investment Proof: Fixed Deposit/Shares/Fixed Assets, etc. Passport size photos |
| Personal Loan | Salaried: Loan Application Form 2 Passport size photos Salary Slips for last 3 months Identity Proof PAN Card or Driving License or Voter ID Card or Adhaar Card, etc. Residence Proof (Driving License/Voter ID Card/Adhaar card, etc.) Last 3 months Bank Statements Employment Proof Signature Proof Self-employed: Loan Application Form 2 Passport size photos Identity Proof PAN Card or Driving License or Voter ID Card or Adhaar Card, etc. Office Residence Proof Income Proof: Audited financials for the last 2 years Last 6 months Bank Statements Employment Proof Signature Proof |
| Car Loan | Salaried: Age & Identity Proof: Passport Copy/PAN Card/ Voter ID card, Photo Driving License with birth date (laminated, recent, legible)/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate Income Proof: Form 16 for last 2 years, Latest Salary Slip, 6-month bank statement Residence Proof: Latest Telephone Bill/ Electricity Bill/Property Tax Receipt/Passport/ Voter ID Signature Verification proof: Passport copy/PAN Card Passport size photos Loan application form Passport size photos Self-employed: Age & identity Proof: Passport Copy/PAN Card/ Voter ID card, Photo Driving License with birth date (laminated, recent, legible)/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate Income Proof: IT returns for the last 2 years along with audited balance sheet, P&L account statement for 2 years, Shop & establishment act certificate / sales tax certificate / SSI registered certificate / copy of partnership Residence Proof: Latest Telephone Bill/ Electricity Bill/Property Tax Receipt/Passport/ Voter ID Signature Verification Proof: Passport copy/PAN Card Processing fee cheque Loan application form Passport size photos |
| Business Loan | ID Proof: Passport/Voter ID Card/Driving License/Aadhaar Card/NREGA Card/PAN Card Address Proof: Passport/Voter ID Card/Driving License/Aadhaar Card/NREGA Card/ Income Tax Returns receipts of the last two years Latest 6 months bank statements Banking and Loan payment history Profit & Loss Statements of the last two years Latest Balance Sheet |
| Loan Against Property | Loan application form 2 Passport size photographs Income proof Income Tax Assessment Order/IT Returns Salary slip of last 2 years (for salaried individuals) Approved plan of buying property |
| Fixed Deposit | Individuals Hindu Undivided Families (HUFs) Minor represented by parents /guardian Guardian on behalf of societies, clubs, trusts and associations Associations Clubs Trusts Sole proprietorship firms Partnership firms Limited Companies |
| Education Loan | Letter of admission Duly filled and signed loan application form 2 recent passport size photographs Statement of cost of study PAN Card, AADHAR card of student and parent/guardian Proof of identity and proof of residence IT returns or IT assessment order of previous two years of the co-borrower Statement of assets and liabilities of parent/guardian Proof of income of parent/guardian |
| Gold Loan | Photo ID KYC proof |