POSTED BY Daredevil13 ON March 31, 2013 1:59 pm COMMENTS (6)

I have an approved loan for Rs. 40L with SBI Maxgain out of which 30L has been released.

Now i can manage the balance 10L from my pocket. Can i request SBI to change the homeloan amount to 30L so that the rate of interest is reduced from current 10.1% (ROI for >30L) to 9.95% (ROI for <= 30L)?

6 replies on this article “Query on SBI MAXGAIN”

  1. Animesh Dutta says:

    Dear Ashal,

    Thanks a lot . I will do the needful.


  2. Dear Animesh, please contact your loan serving branch. A netbanking application form is to be filled there to activate the same.



  3. Animesh Dutta says:

    Hi Ashal,

    My logic is simple .. my aim is to close loan asap. so i find it documented part close. we have a
    tendency of taking back the extra money from OD account as an when needed… that will actually not solve the purpose of pre-closing.

    Yea but if we have some near plan to be achieve and trying to arrange money for that purpose , that time yes we should use OD properly.

    Q1. Do you know any document we have to submit to enable net banking .


  4. Dear Animesh, Here are the answers for your queries.

    1. Yes. Please contact your loan serving branch for the necessary work.

    2. Read 1 above & act accordingly. By the way, what do you wantg to acheive by prepaying & EMI reduction? may I know the reason/logic?

    3. To be able to do that, please activate netbanking for your Max Gain account. Please contact your loan serving branch for the same.



  5. Animesh Dutta says:


    I have taken home loan of 35 lakhs on July -2012 from SBI maxgain.
    My question is .
    1. Can i do part payment of say 2 lakhs . i don’t want to put that on OD i want my loan reduced by 2 lakhs officially . Is it possible. What i have to do for that .
    2. If the above option possible, i want only EMI to be reduced , not the no of year . is that also possible .
    3.I cant’t able to transfer from OD to savings through net banking . Do we have to activate something


  6. Dear Daredevil, instead of opting a lower interest rate, please park the surplus amount into your max gain to have the liquidity intact as it may be helpful to you in case of need. Also the fact that interest difference is only 0.15%, you are not going to lose much against interest cost.



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