SBI Maxgain home loan preclosure question

POSTED BY rajeshkapadia ON December 24, 2013 7:08 pm COMMENTS (3)

Can I use the available balance (including the surplus amount I deposited + interest saved) to pre-pay my SBI Maxgain home loan? I heard that only the surplus amount that I deposited can be used but not the interest saved. Is that true?

3 replies on this article “SBI Maxgain home loan preclosure question”

  1. ashalanshu says:

    Dear Rajesh, what benefit ‘ll you get from loan closure?

    Thanks

    Ashal

  2. ashalanshu says:

    Dear Rajesh, you can use all the available balance as on date to pre-close your SBI Max Gain home loan. By the way, May I know why do you want to pre-close the loan?

    Thanks

    Ashal

    1. rajeshkapadia says:

      Because my book balance (available balance – drawing power) is nearly zero. My available balance includes my surplus deposits and interest savings. Any reasons why I shouldn’t close? Appreciate if your feedback.

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