SBI Maxgain Needed !

POSTED BY Ela Selvaraj ON March 1, 2013 2:44 pm COMMENTS (4)


Dear Sir,

I have applied for SBI Maxgain and today the legal & valuation is done. Can I know how long does it take to get the sanction letter? on other side, Axis bank has approved my home loan and informed to have registration next monday (4 March 2013). Due to heavy pressure, money minded and arrogant attitude of the builder I have decided to register property with Axis bank home loan. But If SBI Maxgain gets sanctioned, can I switch the Axis bank to SBI without anyother paper-work or I have to go through all the paper work from SBI and how much it will be charged?. I am an NRI and have no strength fighting the stupidest and arrogant builder or even with other personals.. Please help me how to proceed further. I am in need of SBI Maxgain !

Thank you



4 replies on this article “SBI Maxgain Needed !”

  1. Credexpert says:

    Dear Ela,

    In interest of saving time, we would suggest that you approach the bank directly to know how long it would take to get the sanction letter. Also, since the evaluation of your application in SBI is already in process, try and show the papers to the builder and request for extension in time. The other alternative is to opt for Axis Bank now and shift to SBI later.

    The terms & conditions and documents required by SBI and any charges that Axis will charge should be checked with the respective banks.


  2. Dear Ela, please ask this question with SBI people as it ‘ll need some more papers other than normal property related & finance related papers.

    Yes even at this stage, you can switch over to SBI after getting your loan from Axis bank to pay out to builder. In effect you ‘ll repay the Axis bank loan from SBI money.



  3. Ela Selvaraj says:

    Dear Ashal,

    Thanks for your reply. Yes I decided to pay now and get the possession. But what happens to the SBI loan which is gonna get sanctioned? Can I use that loan to transfer from Axis to SBI?

  4. Dear Ela, please decide on your own, what’s important to you at this point, paying builder just now & getting possession or waiting for Max Gain. SBI may take any where from 3-4 days to 15-20 days for your loan sanction & agreement.



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