I have home loan in HDFC and should i transfer my home loan to sbi max gain?

POSTED BY Dhivya T ON August 6, 2012 4:27 pm COMMENTS (2)

Hello,
I have bought a flat in chennai of about 40L and have got approved a loan of 31.6 L.
HDFC offers 10.75 % ROI(floating). The property is under construction and till now the loan disbursement is 21.1L. Offlate i have been hearing about SBI max gain loans from jago investor.(I shud say I understand itsconcepts only up to 50%, reasons being I dont understand how the interest component goes down without the principal component going up considering that the EMI amount is fixed for loan term and why are lot of transactions recommended to be to be done in the OD account)
Should I transfer my loan to SBI, as I really like this facility of keeping an OD amount as well pay less interest as per the OD balance.
Please note: Final disbursement has not yet been done.
I took the loan in march 12, am not sure whetehr am legally allowed to transfer my loan so early.
Am I thinking right about the transfer of home loan?
Need your valuable advice.

2 replies on this article “I have home loan in HDFC and should i transfer my home loan to sbi max gain?”

  1. BRSINGH says:

    Sorry disbursed amount is 21.1L. If you dont have to pay any precoloser then i think its worth going for it.

  2. BRSINGH says:

    Your disbursed amount is just 2.1L so i think its better to switch to SBI max gain. I would have done it. Also today’s Times of India has a add about “Switch to SBI Maxgain”. So SBI itself is endorsing it.

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