State Bank of Mysore

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About State Bank of Mysore

State Bank of Mysore
State Bank of Mysore (SBM) is an associate bank of State Bank of India, offering a range of financial products and services to its customers across the nation. Founded in 1913 under the patronage of Government of Mysore as Bank of Mysore Ltd, State Bank of Mysore became an associate of SBI in March 1960 with SBI holding 92.33% of shares. The State Bank of Mysore has its shares listed in various stock exchanges like Mumbai, Chennai and Bangalore.

Branch Network

State Bank of Mysore has an extensive network of 682 branches and 20 extension counters including 5 specialized SSI Branches, 10 Agricultural Development Branches, 4 specialized Personal Banking Branches, 4 Industrial Finance Branches, 3 Corporate Accounts Branches, 8 Service Branches, 3 Treasury Branches and 1 Asset Recovery Branch.

Human Resources

State Bank of Mysore has 9720 employees on its roll, which include 3169 supervisory staff and 6551 non-supervisory staff. The State Bank of India's Chairman is also the Chairman of its associate State Bank of Mysore. There is a Chief General Manager as well as 6 General Managers who assist the Managing Director of the bank.

Deposits Scheme

State Bank of Mysore offers a range of products and services to its customers. Different types of deposits are offered.
  • Saral Savings Bank Account
  • SBM Tax Saver Scheme
  • Multi Option Deposit Scheme
  • Savings Bank Account
  • Term Deposits
  • Reinvestment Deposits
  • Power Money
  • Recurring Deposits
  • Harsha Deposit

Personal Banking Schemes

  • Personal Loan
  • Mortgage Loan
  • Housing Loans
  • Happy Home
  • Gnanamitra Education Loan
  • Loan for purchase of residential site / plot
  • MYBANK ADHYAPAK - Personal loan scheme to teachers
  • MYBANK ARAKSHAK - Personal loan scheme to police personnel
  • MYBANK UTSAV - Personal loan scheme to celebrate Festivals
  • SBM Car Loan Scheme - For purchase of new and used cars
  • SANJEEVINI - product scheme for high cost treatment
  • MYBANK SAMACHAR - personal loan scheme for Journalists
  • GAGAN MITRA - New personal loan for Pilot & Air hostess training
  • Mybank Udyogi Gnanamitra - New personal segment advance for employed persons to undertake higher studies

Commercial & Industrial Banking Schemes

  • Scheme for Trades -Liberalised Trade Finance
  • Handy Loans Scheme
  • Corporate Loan
  • Current Account Plus
  • Rent Plus
  • SBM Paryatan Plus
  • SBM School Plus
  • Fair Practices Code for lenders
  • Terms and Conditions letter for industrial advances

Agricultural Banking Schemes

  • Kisan Gold Card Scheme
  • Kisan Credit Card Scheme
  • Gramin Bhandaran Yojana (GBY)
  • Scheme for Combined Harvesters
  • Kisan Chakra Scheme
  • Agriclinics and Agri business cente` (ABC 10 dated 30.08.01)
  • Solar Photo Voltaic Pumpsets(SPV) for Irrigations
  • Scheme for purchase of land for agricultural purposes
  • Scheme for development of Vanilla
  • Establishment of Bio-Fertiliser Units (Model Scheme)
  • Produce Marketing Loan (PML)
  • Drip Irrigation
  • Sprinkler Irrigation
  • Farm Mechanisation- SBM Agri Farm Scheme
  • Swarna Mitra Scheme
  • My Krishigen
  • Scheme for cultivation of Gherkins
  • Scheme for financing LPG connection in rural areas
  • Scheme for financing to tenant farmers & Oral lessees
  • Rain water harvesting scheme for SC/ST farmers
  • Scheme for financing of Jatropha plantation
  • Scheme for financing to cultivation of patchouli
  • General Credit Card

Micro and Small Enterprises Schemes (MSE)

  • Definition of Micro, Small & Medium Enterprises (MSME)
  • Credit Guarantee Fund Trust Scheme for Micro, Small & Medium Enterprises (MSEs)
  • Loans to Micro and Small Enterprises (MSEs)
  • Retail Trade- Advances to Retail Traders
  • MSEs- Service Sector (Small Business Enterprises)
  • Professionals & Self-Employed persons
  • Transport Operators
  • Laghu Udyami Credit Card Scheme
  • Stree Shakthi package for Women entrepreneurs
  • MyBank Sanchari Suvidha
  • Annapurna
  • Mybank Doctor
  • Flexi (SSI) Term Loan
  • SME Credit Plus
  • Green Auto
  • Swarojgar Credit Card scheme
  • Mybank Professional Plus
  • Artisans Credit card (ACC)
  • Stand-by-line of Credit (Term Loan) for SSI and C&I Borrowers
  • Reimbursement Facility under Term Loans: (SIB and C&I Segment borrowers)
  • "Sooryadeepa": Scheme for Financing Solar Home-lighting system

Forex Services

SBM offers the following forex services to NRIs:

  • NRI Deposits
  • Money Transfer to India through Western Union
  • Remittance facility through State Bank of India, New York Branch
  • Remittance to India -Global Link Service (GLS)


State Bank of Mysore, following Bancassurance model, has entered into tie-ups with companies like SBI Life Insurance Company etc. It is also a Corporate Agent of National Insurance Company.

State Bank of Mysore cross-sells the following products:

  • SBI Life
  • SBI Mutual Funds
  • SBI Cards
  • Dhanvanthari Bima Policy

State Bank of Mysore loans

State Bank of Mysore loans come in wide variety. These loan schemes are customer friendly and come with a host of attractive conditions. The arenas covered include personal banking, banking for medium and small business enterprises, institutional and commercial banking and Agricultural Banking.

State Bank of Mysore personal loans

State Bank of Mysore personal loans cover a wide spectrum. Some loan products available under this head are described below:
  • Personal Loan
  • IPO Financing
  • Mybank Adhyapak
  • Gagan Mitra
  • Mybank Arakshak
  • Mybank Samachar
  • Mybank Utsav
  • Sanjeevini
The above-mentioned loan schemes cater to a diverse section of professionals including teachers, journalists, police personnels, Air hostess and pilots. The loans also finance diverse needs of customers ranging from that for medical treatment to festival related expenditure.

Home Loans

State Bank of Mysore Home Loans are available for a variety of purposes. That includes purchase or construction of new accommodation (flat or house). Loan can also be accessed for diverse needs like buying consumer durables, furnishings, renovation, repairs, building extension of an existent house and more.

Education Loans

Gnanamitra Education Loan is a State Bank of Mysore Education Loan scheme. Mybank Udyogi Gnanamitra is also a personal loan extended by the bank for working professionals who wish to pursue higher studies.

Car Loans

State Bank of Mysore Car Loans are offered for both used and new cars. The bank at present sanctions car loans on floating rates. State Bank of Mysore Car Loans for used cars are extended for purchasing cars, multi-utility vehicles and jeeps, which are not over five years old.

Apart from the State Bank of Mysore Corporate Loans, the bank also offers loan schemes for Traders. SBM Paryatan Plus, Current Account Plus, Handy Loans Schemes, SBM School Plus are some other loan products from the bank. There are also some customized Institutional and Commercial banking options on offer from State Bank of Mysore. The bank offers a wide array of loan schemes for those engaged in agriculture.

It may be noted that all State Bank of Mysore Loans come with a host of terms and conditions.

SBM Head Office Address

State Bank of Mysore
H .O.: K.G.Road,
Bangalore - 560254, INDIA.
Tel:+91-80-22353901 to 22353909 / 22353473.
Fax: +91-80-22283684
Toll Free Number : 1800 – 425 – 2244
Official Website:

Last Updated on May 7, 2015