The individuals working for private sectors, government agencies, self-employed individuals and more can easily avail the facilities of personal loan offered by State Bank of Mysore. The loan can be used miscellaneous expenses (buying home appliances, etc.), personal finance requirement, traveling, education fees, marriage expenses and more.
17.25% is the interest charged by State Bank of Mysore on its personal loans. However, 10% is the current base rate of the bank. On the other hand, based on your credit history, your income, and your loan repayment capacity, the rate of interest on your personal loan will be decided by the bank.
For different tenures, different interest rates are charged by State Bank of Mysore and also depend on the requirement of the applicant.
Rate of Interest
16.55% on a yearly basis
Maximum of Rs.1.5 lakhs
Maximum loan term: 36 months
Minimum loan term: 12 months
Rs.3542.92/- per Rs.1 lakh loan amount (applicable for the maximum tenure of lowest loan amount)
From the total loan amount, 1% is charged
Minimum age of the applicant: 21 years
Maximum age of the applicant: 58 years
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