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Q.

What is SBI Maxgain Home Loan Interest Rate?

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0 2024-01-31T23:50:42+00:00

I bought a plot of land a few months back and was planning to get a home loan. So, I consulted a friend of mine who works at a bank. He told me to opt for an SBI Maxgain home loan. He informed me that the SBI Maxgain home loan interest rate is 9.55%, and  it comes with a lot of benefits. 

He said that SBI Maxgain is an overdraft loan, which charges interest on the amount borrowed and not on the amount sanctioned. He explained, if I take a loan of Rs1 lakh and repay Rs10,000, the interest will calculated on the rest of the amount, which is ₹90,000.  

SBI Max Gain Home Loan Interest Rate

The interest rate of SBI Maxgain is 9.55%. However, this Max Gain SBI home loan interest rate is only available for people who have a credit score of 750+. For people with a credit score between 700 - 749, the interest rate is 9.75%. and it goes up to 9.85% for people whose credit score is between 650 - 699. You can check this

SBI Home Loan Interest Rate Max Gain

chart to know more. 

To be eligible for this home loan, you need to fulfill the following criteria:

  • Your age should be a minimum of 18 while applying and 70 years or less when it matures. 

  • The applicant must have a stable income of at least Rs. 25,000. 

  • CIBIL score must be 650 or above.

  • Salaried applicants must have at least 2 years of experience, and non-salaried need to have at least 5 years. 

I hope this information about the SBI Maxgain home loan interest rate is of help to you. 

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