State Bank of Mysore was established in 1913. Earlier it was known as
Bank of Mysore Ltd. In March 1960, it became the associate of State Bank
of India. SBI holds 92.33% shares of the Bank. Its shares are listed in
Bangalore, Chennai and Mumbai stock exchanges.
As on 31.03.2005, the Bank has a network of 633 branches and 20
extension counters in India which includes 6 SSI branches, 4 Industrial
Finance branches, 6 specialised Personal Banking branches, 10
Agricultural Development Branches, 2 Treasury branches, 1 Asset Recovery
branch and 7 Service branches.
The paid up capital of the Bank as on 31.03.2005 is Rs. 360 millions
and the networth is Rs. 7508 millions. The Bank's capital adequacy ratio
is 12.08%. The total deposits mounts to Rs. 133429 millions and the
total advances stood at Rs. 91245 millions, including export credit of
Rs. 7530 millions with an earning per share at Rs. 572.94. The forex
turnover of the Bank crossed Rs. 101116.40 millions during 2004-05.
State Bank of Mysore Deposit Scheme
The following are the Deposit Scheme provided by State Bank of Mysore:
Mybank Akshaya - Recurring Deposit Scheme(with flexibility)
The main feature of the scheme is that the depositors have an option to
withdraw the monthly installments remitted, after every 6 months or in
multiples of 6 months. The maximum period of deposit is 10 years.
Ananya Deposit Scheme
The scheme is made for retiring employees to deposit lumpsum amount and
to get monthly income of Rs.800/- or Rs.1000/- for 12, 24 or 36 months.
The deposit may be further reinvested once again
Multi Option Deposit Scheme
It combines the features of Current account, Savings Bank a/c, TDR or
RID a/c. The product proposes to give liquidity to the depositor with
high returns and convenience. It provides the depositor an automatic
overdraft facility in Current a/c and automatic withdrawal of Term
deposits in units through SB a/c. Depositor has to simultaneously open
TDR / RID a/c for Rs.1000/-, SB a/c with balance Rs.500/- and Current
a/c.
Long Term Floating Deposit account
A fixed deposit scheme for 5 & 8 years to get an additional
interest of 0.25% and 0.5% respectively more on base interest rate (of 3
years deposit). The depositor has the option to invest in long term
maturity at a floating rate with an opportunity to gain in any upward
movement in interest rate. Minimum deposit of Rs.50000/-.
Savings Bank account
Customer can open an account with a deposit as low as Rs.100/- to
Rs.300/-(Rs. 250/- for chequebook facility and Rs.100/- without
chequebook facility) depending upon the area and earn interest at 3.5%
(wef 01/03/2003) per annum. Computerised branches - Rs.500/- and for
Specialised hi-tech branches - Rs.2000/-
Term Deposits
In this scheme, customers can invest a lumpsum amount for a specific
period from 15 days upto 120 months and collect interest at monthly
(discounted), quarterly, half- yearly or yearly intervals.
Reinvestment Deposits
According to this scheme, customers investment and interest for the
specified period is paid together at the end of the term. It gives the
highest yield of interest on savings taking care of customers future
needs like marriage, house construction, children's higher education,
etc., Period can be from 6 months upto 10 years
Mystar Deposit Scheme
Mystar deposit is a short-term deposit for 46 days where deposits along
with interest are automatically renewable upto a maximum of 6 times,
without production of receipt on each occasion.
Power Money
This is a flexible term deposit scheme. Deposits are accepted in units
of Rs.500/- each with a minimum of Rs.5000/- (10 units) for a period of
1-10 years. Part of the money deposited can be withdrawn in units
without loss of interest on premature withdrawal for the entire deposit.
Loans / Overdrafts can be availed upto 75% on the balance of units held
Recurring Deposits
In this scheme, the minimum monthly instalment is Rs.20/- and is
accepted in multiples of Rs.5/- thereafter. Deposits are accepted from 6
months to 120 months
Cash Cetificate
In this scheme, customers pay an odd sum of money and receive a huge
round sum. The period of this scheme is from 6 months to 10 years, with
quarterly compounding of interest.
Grameena Thevani Yojana
A special deposit scheme, with interest compounding quarterly for
persons with seasonal income like agriculture. Deposit in five yearly
instalments gets a huge sum after 10 years.
Perennial Income Plan
A novel pension plan for a tension free future specially for
self-employed / daily wage earners who are not covered under pension
scheme. Customers save specified amount at regular monthly intervals for
a specified period of say, 7 / 10 years when young and energetic. They
get a regular monthly income after 7th / 11th year equal to or twice the
monthly saving throughout life or get a huge sum for their large needs.
Super Savings Package
This is a plan which take care of old age. Customers save a specified
small sum every month for 15 or 25 years (renewed every 10 years) and it
is re-cycled every 10 years to get the maximum benefit of compound
interest.
Bhagyalakshmi Deposit
This deposit is an ideal deposit scheme for housewives and employees.
Customer save a small amount every month for a specified period and the
accumulated amount is invested for a specified period to get a big sum.
Harsha Deposit
This scheme offers to save with pleasure and with convenience. No
penalty is charged on irregular remittance. Customer may enhance your
installment upto 10 times your initial deposit. An ideal deposit scheme
for all, whose income is flexible and also for the salaried who may have
to incur unexpected expenditure.
State Bank of Mysore NRI Services
To the NRIs, the Bank offers the following services:
- Non-Resident (External) Account - NRE a/c
- Foreign Currency (non-resident) Account - FCNR a/c
- Non-Resident Non-Repatriable Deposit Account - NRNRD a/c
- Non Resident Ordinary Rupee Account - NRO a/c
- Loans against NRI Deposits
- NRI Housing loans
- Rupee Loans against India Millennium Deposits (IMDs)
- RFC Account (Resident Foreign Currency Account)
- Resident Foreign Currency (Domestic) Account
For any query, NRI can contact on the following address:
State Bank of Mysore,
Foreign Department,
Head Office,
Bangalore - 560 009
Tel: 91 80 22251499
Fax: 91 80 22251489
Telex: 845 - 2348 / 8364
Email: dgmfd@sbm.co.in
Head Office
State Bank of Mysore
H .O.: K.G.Road,
Bangalore - 560009,
INDIA
Phone: 91 80 22353901 to 22353909 ; 22353473.
Fax: 91 80 22283684
Website of State Bank of Mysore
www.mysorebank.com
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