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.
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What is SBI Maxgain Home Loan Interest Rate?
Dilip
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January 31, 2024
2024-01-31T23:29:36+00:00 2024-02-01T11:47:50+00:00Comment
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