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State Bank of Hyderabad is a nationalized bank of India, with headquarters at Hyderabad in Telangana. It is one of the five associate banks of State Bank of India and is one of the scheduled banks of India. Founded in 1941 as Hyderabad State Bank, the Bank now has over 2000 branches and bout 18,000 branches. Its head office is situated at Gunfoundry Area, Hyderabad. Since 1956, it has been a subsidiary of State Bank of India and is now the Bank’s largest associate bank. In 1953, the Bank took over the assets and liabilities of the Hyderabad Mercantile Bank Ltd.
About State Bank of Hyderabad
In that same year, the Bank began to conduct Government and Treasury business as agent of Reserve Bank of India. In 1956, the Bank was taken over by Reserve Bank of India as its first subsidiary. The Bank became a subsidiary of the State Bank of India on the 1st October 1959. Currently, all the branches of the Bank are completely networked under Core Banking Solutions, offering a wide range of products to its customers. The Bank’s customers can enjoy access to the latest technologies like Internet Banking, ATMs, etc. The Bank has pan-India presence, and is the chief banker of Telangana State. It has exhibited a commendable performance in the last few decades, and has won a number of awards for its banking practices.
Vision and Mission
The Bank’s vision is to be the most preferred and trusted Bank. State Bank of Hyderabad services aims to be dedicated to customer satisfaction and inclusive growth by leveraging technology with an empowered and committed workforce. It believes in strict adherence to transparency and ethical practices. It always ensures that the customers are treated with respect and empathy. It focuses on competence and dedication in all its areas of operation. The Bank believes in nurturing a culture of learning and technological excellence. Commitment to national and social objectives is the prime motto of State Bank of Hyderabad financial services.
State Bank of Hyderabad Loans
State Bank of Hyderabad Home Loan: The objectives of this loan include, purchase of a new flat/house or construction of a house, purchase of a plot of land and construction of house thereon, purchase of a existing house/flat or its extension, purchase of house plot, repair/renovation of an existing house/flat, furnishings/consumer durables, or takeover of the loans from Banks/HFC. Any individual over 18 years of age with a steady income source, including persons engaged in agriculture and allied activities, is eligible for this loan. The amount of finance will be assessed on the following factors – A. project cost including cost of land, house/flat, cost of additional amenities related with the particular house/flat, registration charges, stamp duty, property insurance, service tax and other statutory dues, if any, less applicable margin. B. Permissible EMI/NMI ratio, C. Maximum Permissible Loan to Value (LTV) ratio. The competitive interest rates are sure to attract the borrowers. One of the major State Bank of Hyderabad loan advantages is that this loan is available as term loan and overdraft also. With easy documentation and fast processing, the Bank also offers daily reducing balance and low processing fee. Also, there are no hidden costs or other changes involved.
Further, SBH Home Cash is a top up loan product offered to existing home loan borrowers. According to the scheme, any existing home loan customer with a satisfactory repayment record of at least 6 months can avail this loan. The minimum quantum of loan is Rs. 50,000 and the maximum amount is Rs. 10 lacs. The repayment period is a maximum of 120 months or before the borrower attains the age of 70 years.
State Bank of Hyderabad Personal Loan: Personal Loan from State Bank of Hyderabad may be availed to fund wedding expenses, foreign tours, medical emergencies, higher education, etc. employees of State/Central Govt./Semi Govt./Profit making PSUs with a minimum of 3 years service in the preset organization are deemed eligible for this type of loan. Additionally, employees of Private Sector Companies with SBH 1 to 3 rating who are banking with the State Bank of Hyderabad are eligible, having completed at least 3 years in the present organization. In compliance with the State Bank of Hyderabad personal loan eligibility, the borrower should have a minimum age of 21 years, while the maximum age limit is 55 years, or 36 months prior to superannuation. The loan amount depends on the NMI (Net Monthly Income)/ NAI (Net Annual Income) and is generally 12 times NMI subject to a minimum of Rs. 25,000, with the upper limit being Rs. 7.5 lacs. However, for a person availing the loan for the first time, the maximum amount that can be sanctioned is, Rs. 5 lacs. The quantum of loan is to be subjected to EMI/NMI ratio, as specified by the Bank. The repayment is to be done in 36 EMIs.
State Bank of Hyderabad Loan Against Property : this general purpose loan/line of credit is available as demand loan as well as overdraft. This loan comes with flexible tenure and repayment options. Any individual over 21 years of age with a steady source of income, including professional, self-employed, persons engaged in agriculture and allied activities and customer of other segments (like contractors, traders, industrialists, etc.). However, adequate care should be taken so that the loan is sanctioned only in the name of individual and not in the name of the firm/company. In order to avail Loan against Property from State Bank of Hyderabad, the maximum age limit is 65 years. The minimum loan amount is Rs.50,000 while the maximum amount is Rs. 200 lacs. The repayment for the term loan is 84 months, while for the overdraft facility, it is 180 months.
State Bank of Hyderabad Business Loan: The Bank offers various MSME schemes, such as – Mortgage Loan, Laghu Udyami Credit Card, MSME Credit Plus, MSME Smart Score, MSME Car Loan, Transport Operators Collateral, Transport Operator Finance, Collateral Free Loans, Liquid Gold Plus, and many others.