SBI Yuva Max Gain Loan Scheme sanctioned when I applied for SBI Max Gain

POSTED BY vinay21verma ON November 27, 2013 6:22 pm COMMENTS (8)

I have a question about SBI Yuva MaxGain scheme. I applied for SBI Max Gain loan, but I have been sanctioned SBI Yuva Home loan. When I enquired, I was told that since my requirement was more than my eligibility, I have been given SBI Yuva home loan, which also has MaxGain facility. So, as per them SBI Yuva Home loan are of two types : Term and MaxGain. So the scheme they have sanctioned for me is SBI Yuva MaxGain scheme.

As far as I knew, MaxGain and Yuva are two different schemes, and I never heard SBI Yuva MaxGain scheme. Anyone having any idea on this scheme ?

8 replies on this article “SBI Yuva Max Gain Loan Scheme sanctioned when I applied for SBI Max Gain”

  1. saurabh says:

    Hi Vinay,

    Same thing happened with me as well, so i need advice from you, How can i rectify whether it’s yuva max gain or simple yuva home loan? I am completely stressed out cause of this & not finding any resolution. Your insight will be helpful to me.

    Thanks,
    Saurabh

    1. Dont you have your home loan documents ? It would be mentioning about it

      1. saurabh says:

        Hi Manish,

        In arrangement letter, it’s mentioned Yuva Home loan, but as i choose Regular EMI in ECS mandate form, also provide a letter to bank officials regarding regular EMI. Still i am not clear whether it gonna be a Yuva max gain or Yuva home loan. Even bank employees were not having any proper knowledge about the loan schemes. One guy in bank told me; since, in my document, it’s product code is ‘Yuva Home loan OD’, so it’s gonna be a yuva home loan with max gain facility. But still i am not clear, if it so then why in document home loan scheme name is not ‘Yuva max gain’

        Thanks
        Saurabh Jain

        1. Hi saurabh

          This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that

          Manish

  2. ashalanshu says:

    Dear Nsabhyanakar, moratorium in Yuva is to provide you more loan by keeping EMI low in initial 3Y. I do not think, this moratorium ‘ll create any issue for you to withdraw from your available surplus.

    Thanks

    Ashal

  3. nsabhyankar says:

    SBI is really puzzling! They have great banking procedures and products but sometimes fail to educate their employees and customers.
    I was told that Yuva and MaxGain can not be combined! Now, I have to be assertive and take on the bank officer who said that. Thanks Ashal for confirming.
    Is any official notification or online document available to support this which can be used?

    Also, if these two are combined, does that mean that I can not withdraw any surplus that I deposit in MG account for the three years mandatory moratorium under the Yuva scheme?

  4. vinay21verma says:

    Thanks Ashal,

    As I did not find any such information on SBI website or any other internet link which explains yuva with max gain, so was a bit worried. Now your confirmation comes as a breather. Thanks again !

  5. ashalanshu says:

    Destr Vinay, Relax. Max Gain can be availed under Yuva also. In case, you found that Yuva is not available with Max Gain, you have the right to cancel the loan application.

    Thanks

    Ashal

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