SBI not enabling transaction rights on Max Gain account – What can I do ?

POSTED BY Vikash ON December 13, 2013 8:20 pm COMMENTS (8)


I have applied for a Home loan from SBI Gurgaon of 70L out of which they have already disbursed 65.5L Now I am asking them to stop further disbursal and give me transaction rights on my Max gain account.

They have told that Max Gain rights can be only given if

1) full disbursal has been granted OR
2) The possession is offered

In my case, possession is still far way by about 4-5 months. Since I have some liquid money at hand I wanted to deposit in Max Gain account and withdraw when need arises but SBI folks are adamant that this is not feasible even when I have told them that I don’t want further amount.

What should I do? and whom should I approach?


8 replies on this article “SBI not enabling transaction rights on Max Gain account – What can I do ?”

  1. jitu says:

    Dear Sir,
    I was been sanctioned a SBI-Maxgain home loan of Rs. 25 Lakh. last month the final disbursement has been done by the bank, also I have registered my flat. Now when I asked the loan sectioning SBI RACPC branch (located at home town) to give me the transaction rights they called me to contact the branch (which is at another state) where my net banking a/c is. The loan account is showing in my salary account (with net banking facility) but I am not getting the withdraw facility. Here also the Bank manager is not sure how to activate it. Please help me how and where to contact.

  2. ashalanshu says:

    Dear Vikash, please contact loan serving branch.



  3. Vikash says:

    Though they have reduced the limit now but now the drawing power (loan outstanding) is not calculated properly. (They have not deducted the principal for the first month repayment)

    For such calculation issues, do we need to contact RACPC guys or the branch which holds the loan account?

  4. ashalanshu says:

    Dear Vikash, please wait for few more days and after that contact in person to AGM again. It’s SBI so such things are going to happen. 🙂



  5. Vikash says:

    Hi Ashal,

    I contacted RACPC AGM (loans). First he was reluctant, then he asked me for FDs for the remaining amount. I submitted the FD proof along with the application.

    It’s about a week since but there is no response from them. Phone calls to them go unanswered, fax doesn’t yield any action.

    I am in a fix, what is the best way to tame these guys?

  6. ashalanshu says:

    Dear Vikash, did you contact your RACPC AGM (loans)? Please contact him/her and get it done.



  7. Vikash says:

    Dear Ashal,

    I did that exactly and they refused saying that either get the full amount disbursed or show us possession letter.
    Now I am not sure whom to approach?

  8. ashalanshu says:

    Dear Vikash, please contact your RACPC AGM and inform the thing (in writing) that you do not want more disbursal and are ready to accept 65.5L Rs. as final disbursal. You ‘ll get the desired result.



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