When it comes to taking out a home loan, most borrowers find themselves balancing two key considerations: minimizing interest costs and maintaining ready access to funds. The State Bank of India (SBI) offers a solution specifically designed for this need— Maxgain Home Loan. This unique overdraft facility empowers you to reduce your interest burden while keeping surplus funds accessible for emergencies, investments, or big-ticket purchases.
SBI Maxgain Home Loan Highlights
| Categories | Details |
|---|---|
| Interest Rates | 8.25% p.a. onwards |
| Maximum Loan Amount | Upto 90% of the plot’s market value |
| Processing Fees | 0.35% of the loan amount |
Suggested Read: SBI Home Loan
SBI Maxgain Home Loan Interest Rate 2025
Interest rates for the SBI Maxgain Home Loan in 2025 are shaped by market conditions, regulatory mandates, and the bank’s internal policies.
| Home Loan Type | Interest Rates |
|---|---|
| Home Loan Maxgain (OD) | 8.25% p.a. onwards |
Suggested Read: How Can an Overdraft Facility Reduce Home Loan Burden?
SBI Maxgain Home Loan Processing Fees
SBI takes processing fees to cover the cost of reviewing your documents and assessing your loan application.
| Fees Category | Charges |
|---|---|
| Processing Fees | 0.35% of the loan amount + GST Minimum: c2,000 Maximum: ₹10,000 |
SBI Maxgain (Overdraft Facility) Calculator
A precise calculation tool is essential for evaluating your financial commitments under an overdraft-linked loan.
Flexible, Smart, and Simple—Choose SBI MaxGain for Your Home Loan Needs.
SBI Maxgain Home Loan Documents Required
| Document Category | Details |
|---|---|
| Employer Identity Card | Required for all applicants |
| Loan Application | Completed loan application form with 3 passport size photographs |
| Proof of Identity (Any one) | PAN / Passport / Driver’s License / Voter ID card |
| Proof of Residence/Address (Any one) | Telephone/Electricity/Water/Piped Gas Bill, Passport, Driving License, or Aadhar Card |
| Property Papers | Permission for construction (if applicable), Registered Agreement for Sale/Allotment Letter, Occupancy Certificate, Share Certificate (MH only), Maintenance Bill, Electricity Bill, Property Tax Receipt, Approved Plan & Registered Development Agreement, Conveyance Deed, Payment Receipts or bank statement for builder/seller payments |
| Account Statement | Last 6 months’ bank statements for all accounts, loan account statements for past 1 year (if applicable) |
| Income Proof (Salaried) | Last 3 months’ salary slips or certificate, Form 16 (last 2 years) or IT returns acknowledged by IT Dept. |
| Income Proof (Non-Salaried) | Business address proof, IT returns (last 3 years), Balance Sheet & P&L account (last 3 years), Business license or equivalent, TDS Certificate (Form 16A, if applicable), Certificate of qualification (for professionals like C.A./Doctor) |
How to Apply to SBI Maxgain Home Loan (OD)?
- Check Eligibility
Ensure you meet the basic criteria:
Age: 18 to 70 years
Purpose: Purchase of a “Ready to Move-in” property
Minimum Loan Amount: ₹20 lakhs
Credit Score: A good credit score is recommended - Gather Necessary Documents
Application Form: Duly filled with 3 passport-sized photographs
KYC Documents: Identity and address proof
Property Documents: Sale agreement, occupancy certificate, approved plan, etc.
Bank Statements: Last 6 months for all accounts
Income Proof:
Salaried: Last 3 months’ salary slips, Form 16 or ITR
Self-employed: ITR for the last 3 years, business address proof, balance sheets - Apply Online
Visit the SBI Home Loans Portal and follow these steps:
Fill in your income and property details
View and apply for loan offers
Complete your application for instant e-approval
Alternatively, you can apply through the YONO SBI App or visit the nearest SBI branch. - Loan Processing
After submission, SBI will process your application, which includes:
Verification of documents
Property valuation
Credit assessment
Upon approval, the loan amount will be sanctioned. - Disbursement and Account Setup
Once the loan is sanctioned:
A Maxgain Overdraft account will be created
You will receive a cheque book and internet banking access
Funds will be disbursed as per the builder’s demand and property status
Suggested Read: A Guide to Selecting the Right Home Loan
SBI Home Loan Other Products
| Home Loan Type | Home Loan Interest Rates |
|---|---|
| SBI Regular Home Loan | 8.50% p.a. – 9.65% p.a. |
| SBI Maxgain (Overdraft) | 8.25% p.a. – 9.15% p.a. |
| SBI Tribal Plus Home Loan | 8.60% p.a. – 9.55% p.a. |
| SBI Home Loan Top Up | 8.30% p.a. – 10.80% p.a. |
| SBI Home Loan Top Up (OD) | 8.50% p.a. – 9.45% p.a. |
| SBI Loan Against Property | 9.50% p.a. – 10.80% p.a. |
| SBI Reverse Mortgage Loan | 11.05% p.a. onwards |
| SBI YONO Insta Home Loan Top Up | 8.85% p.a. onwards |
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SBI Maxgain Vs Regular Home Loan
Selecting between an overdraft-based loan and a traditional term loan significantly impacts long-term financial obligations. This comparison covers differences in interest calculation, repayment flexibility, and overall benefits.
| Aspect | SBI MaxGain | Regular Home Loan |
|---|---|---|
| Loan Structure | Overdraft facility allowing surplus funds to reduce principal | Traditional term loan repaid via fixed EMIs |
| Interest Rates | Typically 0.25%–1% higher than standard home loans | Generally lower interest rates |
| Liquidity & Flexibility | Borrowers can park and withdraw surplus funds anytime, reducing interest outflow | Lump sum disbursement; surplus funds not easily accessible |
| Minimum Loan Amount | Minimum ticket size of ₹20 lakhs; no maximum limit | Lower minimum limits may apply, depending on the bank’s policies |
| Prepayment Options | Surplus deposits do not qualify as formal prepayments for tax benefits under sections 80C/24B | Allows straightforward prepayments, often with tax benefits on principal repayment under 80C and 24B |
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Conclusion
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Frequently Asked Questions
Interest is calculated on the difference between the loan account balance and the amount deposited in the overdraft (Excess) account. This reduces the interest outgo based on the surplus funds parked in the Excess account.
Yes, funds in the Excess account can be withdrawn anytime, subject to specific conditions. For example, in SBI Maxgain, you cannot withdraw funds until possession of the property is received.
No, funds in the Excess account do not earn interest. However, the interest saved on the home loan acts as an effective return, which is typically higher than what a savings account or fixed deposit would yield.
Yes, it is possible to convert an SBI MaxGain Home Loan to a regular term loan. You would need to contact SBI for the specific procedure and any applicable terms and conditions.
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