As you details of the SBI Max Gain Home Loan and OD here is given belowe:

SBI Max Gain Home Loan and OD–

SBI Max Gain Home Loan is nothing but the OD authorized to you.

In this case, the collateral is your home loan.

So whenever you have a surplus then you deposit to this Max ain account.

This deposit is treated as repayment towards the outstanding loan amount.

Interest on outstanding for that age reduced.

Hence, the interest will be charged only on the definite outstanding Principal=Outstanding Principal-Surplus parked.

Hence, this provides you more flexibility to utilize your surplus cash and along with that, reducing the interest on your home loan.

Below is the typical SBI Home Loan Account Statement.



Here is Criteria for Max Gain home loan SBI:

The eligibility for this loan is the same as a regular SBI home loan.

Minimum age – 18 years on the date of sanction

Maximum age – 70 years by which the loan must be repaid, also subject to ability to repay.

Income and repaying capability, assets and liabilities, cost of proposed house/project will be accounted for.

Sanctioned for the purpose of purchase/ construction/ extension/ repairs/ renovation of new/ second-hand residential house/ flat/ plot of land and furnishings.