Education Loan in State Bank of Mysore

State Bank of Mysore

In state bank of mysore the education loan is provided in the name of gnanamythra.

Education loan amount size:

The maximum amount of upto Rs.10,00,000 is provided for the students studying in India.

For the students studying in abroad the maximum amount of upto Rs.20,00,000 will be provided.

Advance amount to be paid:

Nothing till 4,00,000 Rs.

More than Rs.4,00,000 – Students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount.

Interest rate:

Upto Rs.4,00,000 - 14.00%

More than Rs.4,00,000 – 14.50%

Method of repaying the amount:

One year after finishing the studies or right from the sixth month after joining the job the repayment of the loan is to be started.

Warranty:

Upto Rs.4,00,000 : No property guarantee is required.

From rs.4,00,000 till 7,50,000 : Third person’s guarantee approval is required.

More than 7,50,000 Rs : Property guarantor, Parents, student or the third party’s agreeing letter assuring the repayment of loan.

Apply Online: http://www.statebankofmysore.co.in/Loan.aspx

 Contact :

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