State Bank of Mysore was initially established in the year 1913 and currently operates as an associate of State Bank of India, with SBI holding nearly 92% of the subscribed share capital base of the bank. The Bank was initially founded by Dr. M. Visvesvaraya under the aegis of Bank of Mysore with strong support of the erstwhile Mysore Govt.
State Bank of Mysore’s Gold loan facility is one of the most sought after banking products in the whole of South India due to its inherent advantages over the other competitors in the market such as Muthoot Finance, HDFC Bank, Kotak Mahindra Bank and various other domestic banking with strong regional presence.
Gold Loan Schemes allows various individuals to meet his or her funding needs which may arise due to various reasons either expectedly or unexpectedly as their savings might not be enough to meet all their requiste needs. Some of the purposes which may be effectively served by State Bank of Mysore’s Gold Metal Loan Scheme include personal expenses like marriage ceremony, expenses pertaining to medical emergencies, family events; education related expenses as well as travel needs.