Top Banks 2024
State Bank of Mysore Chennai
Last Updated : Feb. 23, 2017, 12:57 p.m.
About State Bank of Mysore
State Bank of Mysore came into existence in the year 1913 and has headquarters in Bengaluru. The bank is the first Karnataka-based bank that has also embarked upon the latest Banking Technology platform by implementing the Core Banking Solutions across all its branches. With this approach, the bank is available for its customers 24X7. Customers can avail the banking services at all the bank branches from anywhere and everywhere. State Bank of Mysore has been in this banking and financial services segment for more than 100 years and has a reached a level where everyone recognizes it with its name.
Talking about the business the bank has made, the total deposits of the bank stood at ₹80,348 crores and the total advances stood at ₹53,584 crores including the export credit of ₹1424 crores. Having said that, State Bank of Mysore holds a vital role in Foreign Exchange dealing also. All this has been possible because the bank reached the people from all strata of the society and took the financial needs of the customers in a practical sense.
Read this article to know the details of the products, branch details, and other related information about the Chennai branch of State Bank of Mysore.
Branch Details of State Bank of Mysore Chennai
| Branch Name | Complete Address | IFSC | MICR | Contact Number |
|---|---|---|---|---|
| Chennai Main | 231, NSC Bose Road, Parry, S Corner, Chennai - 600001 | SBMY0040154 | 600006005 | 044-25342438 |
| T Nagar | Madras 600017 | SBMY0040169 | 600006009 | 044-8340121 |
| Abhiramapuram | 67 Ramaswamy Road Chennai - 600018 | SBMY0040203 | 600006002 | 044-24988599 |
| Whites Road | Chennai - 600014 | SBMY0040226 | 600006011 | 044-28551573 |
| Shastrinagar | Chennai - 600020 | SBMY0040234 | 600006007 | 044-4911176 |
| Santhome | Madras 600004 | SBMY0040236 | 600006006 | 044-4984655 |
| St.Thomas Mount | Chennai - 600016 | SBMY0040250 | 600006008 | 044-2342668 |
| Kilpauk | Chennai - 600010 | SBMY0040297 | 600006003 | 044-6411801 |
| K K Nagar | Chennai - 600078 | SBMY0040411 | 600006004 | 044-4724821 |
| Thiruvanmiyur | Chennai 600041 | SBMY0040449 | 600006010 | 044-4418017 |
| Service Branch Chennai | Chennai 600002 | SBMY0040473 | 600006001 | 044-8523470 |
| IFB Chennai | 576, 2nd Floor, M O H Building Anna Salai Teynampet Chennai - 600006 | SBMY0040559 | 600006012 | 044-23347235 |
| PBB Annanagar | Annanagar Chennai - 600040 | SBMY0040625 | 600006013 | 044-6209726 |
| Velacherry | Chennai 600042 | SBMY0040638 | 600006014 | 044-2433436 |
| Koyambedu | Chennai 600107 | SBMY0040656 | 600006015 | NA |
| Madipakkam | 29, Manikandan St, Ayyappanagar | SBMY0040682 | 600006016 | 044-22472151 |
Products Offered by State Bank of Mysore Chennai
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 Chennai.
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 |
Best Offers For You!
Credit Card by Top Banks
- SBI Credit Card
- SBI Unnati Card
- HDFC Credit Card
- ICICI Credit Card
- Axis Bank Credit Card
- YES Bank Credit Card
- Bank of Baroda Credit Card
- Bank of India Credit Card
- HSBC Credit Card
- IDBI Bank Credit Card
- IndusInd Bank Credit Card
- Kisan Credit Card
- Kotak Credit Card
- Standard Chartered Bank Credit Card
- RBL Bank Credit Card
