SBI Surakshit Home Loan .. Does SBI MaxGain helps me in saving the interest …?

POSTED BY Raja ON August 20, 2013 12:15 pm COMMENTS (2)


I took a SBI HOME LOAN on 12th July 2013. While taking the home loan due to lack of awareness I had taken the SBI SURAKSHIT HOME LOAN.

As per my observation with SBI HL the interest part will be calculated every month end and it will be credited to my HL account.

Total Amount: 27,93,000.00/- @ 9.95 ROI

First Interest rate posted on 31th July 2013 is: 15,187/- for 20 days

First EMI PAID is : 27,900/-

  • ” not sure who many years, they said it’s 20 but it seems like 17+ years and this EMI directly deducted in principal outstanding..:) due to this my interested saved on 27,900/- for 20 days :D. Now planning to change my current ECS to 2nd of every month..;) “

My contribution towards Part Payment consolidated as no date is : 20,287/-

Current out standing is : 27,60,000.00/-

I am decided to pay 15,000/- to 5,000/- as a part payment everymonth along with the EMI to pre-close my SBI HL with in 5 to 10 years.

Kindly let me know does SBI MAX GAIN helps in this situation ?

I also did an enquiry with SBI RACPC, they said if I migrate to SBI MAX GAIN my base ROI hikes and also its difficult to migrate…!

2 replies on this article “SBI Surakshit Home Loan .. Does SBI MaxGain helps me in saving the interest …?”

  1. skisk2014 says:

    Dear Ashal
    I am Satish and I slightly rephrasing what Raja has asked
    I have acquired SBI Surakshit Home Loan. Details are as follows
    -Loan Aquired – 12 Lakhs Tenure of 10 years
    -EMI – 17479 per month
    -Rate of Interest – 10.25 %
    Though SBI is acquring the EMI month on month , they are also acquiring INTEREST on the last date of every month (around 9965 last month) which they say it is calculated based on the book balance. When enquired SBI officials , we are not getting the clear cut answers. Could you please clarify?
    Since EMI covers both principal and Interest, what is this additional interest?

  2. Dear Raja, I’m unable to understand your query properly.



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