SBI Home Loan Maxgain is an overdraft home loan product. SBI Home Loan Maxgain benefits you to use the surplus money as a principal due payment. So, you can cut down the interest payment towards SBI Home Loan Maxgain. You can put your extra money in the SBI Home Loan Maxgain account which will reduce your principal due payment amount. As a result, SBI Home Loan Maxgain interest rate will be charged on the reduced principal loan amount. You can calculate your savings by reducing SBI Home Loan Maxgain interest rate by using SBI Home Loan Maxgain calculator. You have to input the principal amount, interest rate and the tenure and then SBI Home Loan Maxgain Calculator will provide the EMI amount that you have to pay.
- SBI Home Loan Maxgain is sanctioned like an overdraft where you can avail loan based on the mortgage (here, home). SBI Home Loan Maxgain interest rate depends on the withdrawn amount.
- You can easily park your surplus money in SBI Maxgain Home Loan account and can use it in many possible way. Also, you can use it to reduce the principal amount and save on the interest rate charged.
- SBI Home Loan Maxgain interest rate is charged based on the reduced principal amount. So, you can easily save on the optimal yield.
- To meet any kind of unexpected expenses, you can withdraw money from SBI Maxgain Home Loan account.
- You need to avail a home loan of minimum Rs. 20 lakhs to open SBI Home Loan Maxgain account. There is no need of paying any extra fee to avail SBI Maxgain Home Loan.
- SBI Home Loan Maxgain benefits the customers to reduce their EMI payment by paying off the principal due amount.
- Using SBI Home Loan Maxgain calculator, you can easily calculate the EMI repayment amount towards your home loan.
- The applicable SBI Home Loan Maxgain interest rate charged is floating rate and not a fixed rate.
- Must be within the age limit of 18 years to 70 years.
- The loan approved for- construction/purchase/repair of the house. Also, it is applicable for second-hand flat/house.
- Should have a stable income with good repaying capacity
- Details of asset & liabilities along with the proposed house’s cost.
- Must have a home loan of at least Rs. 20 lakhs.
For Maxgain Loan amount more than Rs. 3 crores with 1-year MCLR- 8.25%
This maxgain loan is only available for the existing customers of home loan. So, SBI Home Loan Maxgain Interest Rate for the existing customers is given below-
| Employment Type | Particulars | Others | Women |
| Salaried Applicants | RG- 1,2,3 | 9.25% | 9.20% |
|
| RG- 4,5,6 | 9.35% | 9.30% |
| Non-Salaried Applicants | RG- 1,2,3 | 9.45% | 9.40% |
|
| RG- 4,5,6 | 9.55% | 9.50% |
For Maxgain Loan amount ranging above Rs. 75 lakhs and up to Rs. 3 crores with 1 year MCLR- 8.25%
| Employment Type | Particulars | Others | Women |
| Salaried Applicants | RG- 1,2,3 | 8.90% | 8.85% |
|
| RG- 4,5,6 | 9.00% | 8.95% |
| Non-Salaried Applicants | RG- 1,2,3 | 9.10% | 9.05% |
|
| RG- 4,5,6 | 9.20% | 9.15% |
For Maxgain Loan amount ranging more than Rs. 30 lakhs and up to Rs. 75 lakhs with 1 year MCLR- 8.25%
| Employment Type | Particulars | Others | Women |
| Salaried Applicants | RG- 1,2,3 | 8.75% | 8.70% |
|
| RG- 4,5,6 | 8.85% | 8.80% |
| Non-Salaried Applicants | RG- 1,2,3 | 8.95% | 8.90% |
|
| RG- 4,5,6 | 9.05% | 9.00% |
For Maxgain Loan amount above Rs. 20 lakhs and up to Rs. 30 lakhs with 1 year MCLR- 8.25%
| Employment Type | Particulars | Others | Women |
| Salaried Applicants | LTV less than equals 80 | 8.45% | 8.40% |
|
| LTV greater than 80 and less than or equals to 90 | 8.55% | 8.50% |
| Non-Salaried Applicants | LTV less than equals 80 | 8.65% | 8.60% |
|
| LTV greater than 80 and less than or equals to 90 | 8.75% | 8.70% |
