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Opinion and Only Opinion

Thursday, October 24, 2013

Best Home Loan Product - SBI Max Gain - A home Loan, An Overdarft, A Liquid mutual fund - all rolled into one

SBI Max Gain

HOME LOAN AS AN OVERDRAFT

·         An innovative and customer-friendly product enabling the customers to earn optimal yield on their savings by reducing interest burden on Home Loans, with no extra cost.

·         The loan is sanctioned as an Overdraft with added flexibility to operate the Home Loan Account like SB or Current Account. Bank also provides
Cheque Book/ATM-cum-Debit Card/Net Banking facility for the purpose.

·         The product enables customers to park their surplus funds/savings in
 “SBI Maxgain” (with an option to withdraw whenever required), especially in the wake of low yields on other Deposit/Investment products.

Standard Chartered, HSBC and Citibank also have similar products, but they charges 0.25% more than normal home loans rates for the OD product.

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