Funds transfer from SBI Maxgain

POSTED BY Parag Gupta ON January 13, 2013 10:34 pm COMMENTS (5)

Hi All,

First of all thanks a lot for for initiating and contributing to such a wonderful forum which is very informative and entightening on various topics.

I went through the previous posts on SBI Maxgain Topic which was really helpful in understanding the Maxgain Product. I have the following query about SBI Maxgain Account.

I have been sanctioned an SBI Home loan of RS 30 Lac and my OD account has already been activated. Amount of 15 Lac has already been disbursed to the Builder. In order to save interest on the amount , I have transferred all my access funds in to the OD account. But now I am in need of the fund in order to make some payments to the builder but am not able to transfer the funds from my OD account to my SB account because I dont yet have transaction rights activated on my OD account. When I asked SBI to activate Transaction rights on my OD account , they say that the transaction rights can only be activated after disbursal of the entire loan amount. Pls suggets how can I withdraw money from my OD account?

Thanks in Advance.

Brgds

Parag

 

5 replies on this article “Funds transfer from SBI Maxgain”

  1. Dear Parag, please request with SBI RACPC AGM.

    Thanks

    Ashal

  2. Parag Gupta says:

    Hi Ashal,

    I need to pay the margin money before SBI can do the final disbursal and I am short of fund for that. So I am in a deadlock situation now. I am hoping RACPC would consider my request and trnsfer my fund to my S/B.

    Brgds
    Parag

  3. Dear Parag, You may give a try to RACPC. Why are you not going for final disbursal? This ‘ll solve your problem automatically.

    Thanks

    Ashal

  4. Parag Gupta says:

    Thanks Ashgal for your reply.

    I read the posts about the transaction rights but unfortunately after committing a mistake. I was still hoping to get a workaround to withdraw my fund from OD account thts why i wrote this post. I am wondering if I can request bank to transfer my funds back from my OD to my S/B account or not?

    Brgds
    Parag

  5. Dear Parag, you are claiming that you have checked & read prev. posts on Max Gain but it seems you have not understand those discussions properly. Please try to understand till the final disbursal is not done, you can not withdraw your surplus amount from your own OD acct.

    You have already committed a mistake & you can only correct it by making final disbursal as soon as possible.

    Thanks

    Ashal

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