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SBI Maxgain Home Loan Highlights
| Particulars | Details |
| Interest Rate | 8.70% – 9.85% p.a. |
| Loan Tenure | Up to 30 years |
| Eligibility Criteria | Only for buying “Ready to Move-in” property |
Note: Interest rates as of 13 December 2024
Compare Home Loan Interest Rates of Top Banks & HFCs
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
| SBI | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | Check Eligibility |
| HDFC Bank Limited | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| LIC Housing Finance | 8.50% - 11.25% p.a. | 8.50% - 10.55% p.a. | 8.50% - 10.75% p.a. | Check Eligibility |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. | Check Eligibility |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Check Eligibility |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Check Eligibility |
| IDFC First Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards | Check Eligibility |
| L&T Finance Limited | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards | Check Eligibility |
| Tata Capital Housing Finance | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Check Eligibility |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. | Check Eligibility |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Check Eligibility |
SBI Maxgain Interest Rates
SBI Maxgain home loan interest rate ranges from 8.70% p.a. to 9.85% p.a. The bank has not mentioned its differential interest rates on the basis of credit score, repayment history, job profile, employer’s profile, monthly income, etc. However, just like other lenders, the bank may factor in the above parameters while setting SBI Maxgain interest rates of their applicants.
Interest Rates of Home Loan Overdraft offered by SBI and Other Lenders
| Name of Lender | Interest Rates (% p.a.) |
| SBI Maxgain | 8.70-9.85 |
| Kotak Mahindra Bank | 8.75 onwards |
| PNB Max Saver | 8.55-10.25 |
| Bank of Baroda Max Savings Home Loan | 8.40-10.85 |
| Union Bank Smart Save | 9.30-10.90 |
| IDFC First Bank | 8.85 onwards |
| Federal Bank | 8.80 onwards |
SBI Maxgain Home Loan Processing Fees and Charges
| Particulars | Details |
| Processing Fees | 0.35% of loan amount (Rs 2,000 – Rs 10,000) + GST |
| Pre-payment Charges | NIL |
| CERSAI Charges | – Up to Rs 5 lakh – Rs 50 – Above Rs 5 lakh – Rs 100 |
Also Read: Home Loan EMI Calculator
Get Home Loan at Low Interest Rates Click Here
Documents Required for SBI Maxgain Home Loan
The documents required to apply for SBI Maxgain are similar to the documents required to apply for a regular SBI home loan. Here’s the general list of documents that might be required at the time of applying for SBI Maxgain:
General Documents
- Duly filled application form with 3 passport sized photographs
- KYC documents (Identity Proof and Address Proof)
Property Papers
- Permission for construction
- Sale agreement Registered (only Maharashtra), Allotment letter, Stamped Sale Agreement
- Occupancy certificate (ready to move in), maintenance bill, electricity bill, property tax receipt
- Copy of plan approved
- Registered Development Agreement of the builder
- Conveyance Deed
- Bank account details or payment receipts for payments made for the builder
Account Statement
- Bank account statement for last 6 months for all bank accounts
- Loan account statement for last 1 year for previous loan from other financial institutions
Income Proof for Salaried Applicant/Co-applicant/Guarantor
- Last 3 months salary slip/certificate
- Copy of ITR/Form 16, acknowledged by IT Department
Income Proof for Non-Salaried Applicant/Co-applicant/Guarantor
- ITR for last 3 years
- Business Address Proof
- Profit and loss account and balance sheet for last 3 years
- TDS Certificate (Form 16)
- Qualification Certificate for CA, Doctors and other professionals
- Business License Details
SBI Maxgain Eligibility Criteria
The eligibility criteria set for SBI Maxgain and regular SBI home loan is usually the same. The below-mentioned list might give you a general idea of the home loan overdraft eligibility:
- Applicant should be an Indian Resident
- Applicant should have availed the overdraft facility for buying “Ready to Move-in” property
| Related Articles | |
| SBI Home Loan Eligibility | SBI Loan Against Property |
| SBI Home Loan Balance Transfer | SBI Home Loan EMI Calculator |
FAQs on SBI Maxgain Home Loan
What are the benefits of availing SBI Maxgain home loan?
The major benefit of availing SBI Maxgain is that it allows borrowers to use their monthly surpluses in reducing their home loan interest rates.
Are there any extra costs to avail the SBI Maxgain home loan?
SBI Maxgain incurs processing fees as well as other costs related to loan processing, just like any other loan. Nevertheless, SBI may lower or eliminate the processing fees for SBI Maxgain house loans whenever possible with holiday sales or exclusive promotional offers. Keep in mind that because the interest rates on SBI Maxgain home loans are marginally higher than those on conventional home loans, borrowers must also pay greater interest rate.