We at money superbazaar, provide you authentic information about SBM Personal Loan offered by State bank of Mysore, SBM Personal Loan eligibility criteria, SBM Personal Loan rate of interest and other fees, based on market researchers’ SBM Personal Loan review and other data.

SBM Personal Loan Interest Rate 

SBM Personal Loan interest rate is as follows:

Type of SBM Personal Loan                              SBM Personal Loan rate

With check-off (demand loan):                         15.75%

Without check-off (clean overdraft):               15.75%

SBM Personal Loan Eligibility:

Following are eligibility norms-

• Individuals, employees of government (state/central), PSUs, reputed companies, MNCs, with a minimum of 2 years’ experience, and drawing a net salary of Rs.6000/ at least.
• A person to avail of this loan must be able to produce a third party guarantee of equal means.
• Unit documents of National Savings Certificate, or LIC policy, or KVIP should also be made available to bank officials, as security.

Quantum Of State Bank Of Mysore Personal Loan:

A maximum of Rs.1.50 lacs can be sanctioned as loan amount to borrowers, eligible under SBM Personal Loan eligibility, depending on their repayment capacity. Irrespective of amount of loan sanctioned, SBM Personal Loan rate remains unchanged.

Procedure To Be Followed While Applying For State Bank Of Mysore Personal Loan:

Interested persons can immediately contact their nearest branch, to avail of State Bank of Mysore Personal Loan, along with relevant documents:

• Photo ID Proof: PAN Card/ Driver’s licence
• Address Proof: Ration Card/ Voter’s ID card
• ITR or equivalent declaration, validated by authorized signatory.

SBM Personal Loan review states that bank charges processing fee of 1% of loan amount, which happens to be a one-time payment, and is not included in SBM Personal Loan rate, while calculated equated monthly installments, to be paid by borrowers, satisfying SBM Personal Loan eligibility norms, determined by bank.

Tenure Of State Bank Of Mysore Personal Loan:

SBM Personal Loan has a payment period of 1-3 years, across which a borrower should make regular equated installments. Throughout this period, SBM Personal Loan interest rate stays constant.

Repayment Of State Bank Of Mysore Personal Loan:

Repayment is spread across a period of 12 months to 36 months (1-3 years), on the basis of equated monthly installments, calculated on SBM Personal Loan interest rate, as stated in SBM Personal Loan review. As stated above, SBM Personal Loan rate of interest and other charges remains constant and does not fluctuate.

Product Page Url:

http://www.statebankofmysore.co.in/personal_loan.htm

Branch Office Address (In Table)