State Bank of Mysore is one of the finest public sector banking organizations established in 1913. It is known for availing personal loan schemes to the customers in South India. A subordinate of State Bank of India, State Bank of Mysore is a trustworthy financial institution spread over 1000 locations across the country.
Minimum of one year to the maximum of three years is the holding period availed on personal loans by State Bank of Mysore.
The individual availing personal loan from State Bank of Mysore can use it to fulfill his/her financial needs and spending such as traveling, college education fee, organizing marriages and more.
Depending on the borrower’s credit history, financial situation and loan repayment capacity, State Bank of Mysore avails personal loans to the individuals. However, Rs.50000/- is the minimum loan amount provided by the bank whereas; Rs1.5 lakhs is the maximum loan amount one can avail from the bank.
Three years is the maximum loan interval offered by State Bank of Mysore and one year is the minimum loan interval.
The maximum of interest of 17.5% can be pegged on personal loans offered by State Bank of Mysore.
The one-time processing fee attached with personal loans offered by State Bank of Mysore is 1% of the total loan amount.
State Bank of Mysore accepts different forms of securities when applied for a personal loan such as National Savings Certificates, Shares, KVIP as well as third party guarantee of equal means.