SBI Max gain Home loan – Change of Tenure after loan approval

POSTED BY smm ON October 18, 2013 8:54 am ONE COMMENT

Dear Sir,

I have taken home loan of Rs.3000000/- to construct house n my site. But I have given the tenure as 12 yrs .i.e 144 months. Also I have mentioned moratorium period as 15months. Now I came to know that(after the loan approval) moraorium period in included within the tenure(which I was not aware of initially)  and hence the number of months to clear the loan come down to 129 months. Due to which the EMI too become higher.

1.My 1st question is,  is it possible to increase the tenure of the Max gain loan after the loan being approved with 1st dispursement being done? If yes I can apply for 20yrs max by which time I would attain the retirement age.

2.Also from the forum discussion, it is evident that we can have liquidity of the OD a/c and hence it could be better if I could have applied with the maximum tenure possible. Is that correct?

Please help me in this regard.

SMM

One reply on this article “SBI Max gain Home loan – Change of Tenure after loan approval”

  1. ashalanshu says:

    Dear SMM, AGM of your RACPC has the powers to increase your loan term for your desired term. Please contact to him with a written application.

    Thanks

    Ashal

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