Hi,
I have a SBI Max Gain home loan account, Outstanding is nearly 16 Lakhs (Interest rate ~10% and paying an EMI of 30k per month). I have nearly 4 Lakhs cash reserves (3 lakhs in FD + 1 Lakh in different savings accounts).
Could you please advicee me if I should transfer all my balances as much as possible to the Max Gain account (even considering breakind FD’s giving a return of 9.25%). Will it be beneficial.
Thanks in advance.
Thanks,
Sandeep Saini