State Bank of Mysore
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arrow Mybank Samachar - To cater to the needs of "Journalists" across the country. 
 

Salient features of the scheme:
 

Eligibility:
a) Permanent employees of Leading Newspapers
b) Minimum net salary Rs. 5000/- per month

Loan Amount:
a)
12 times of Net monthly income.
b)
Minimum Rs. 10000/-. Maximum Rs. 1,00,000/-

Margin:
10%
Rate of Interest: (wef 10.08.08)
With check-off facility
15.00%
Without check-off facility
15.50%
Type of Loan: Term loan repayable in 36 - 60 months

Security:
Hypothecation of the articles / Vehicles purchased

Guarantee:
i) No guarantee needed if check-off facility is available
ii) Acceptable third party guarantee if check-off facility is not available

Insurance:
10% above the market value of articles

Processing Charges:
0.50% with a maximum of Rs. 500/-
Disbursal:
Direct to the dealer

Necessary papers to be given by the applicants:
1. Application form
2. Credit Declaration form
3. Salary Certificate
4. Income Tax returns copy
5. Statement of Bank account for the last 6 months
6. Undertaking from the employer to deduct instalments
7. 3 photographs of applicant / guarantor
8. Undertaking that articles are allowed to be inspected any time by the Bank officials

 


Chief Manager
State Bank of Mysore
Personal & Services Banking Department
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901 to 22353909 ; 22353473.extn.380
91 80 22353467 Fax: 91 80 22283684
Email:cmpsb@sbm.co.in

 

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