Yogi Zone

Useful articles for your finance management by our team of experts
  • Sachin Jayaram

    well, I have found out that there are agents called HLCs (Home loan counsellor) who work for SBI & help to expedite your home loan. As such the approval/disbursement time is same but you can save a lot of energy/time as HLCs come to your home to collect documents & help in follow up. I had raised a home loan request online rather than going to any branch & a HLC called me asking for details…

    • Kranthi Kiran

      Could you share yout experience with the home loan counsellor? Was the service prompt? Did you get the loan approval in time?

      • Sachin Jayaram

        Followups are always required, but it can be done on phone, u dont hav to run to the branch every weekend. Mine is under process for close to a month, should be disbursed in another 3/4 weeks or so.

        • Kranthi Kiran

          Good to know that… congrats ! :)

  • sgk


    I got loan from sbi recently 24 lakhs. I got loan without much stress. But after got loan the process of mortage is not informed me while apply loan. since suddenly i got a letter saying u have to create EM and MOD immediately to avoid the increase in rate of interest. again have to spend money of EM and MOD creation with registration cost to change my property to bank name. Already i am in debt, spending amt for this make me stressful that is also i have a house warming function at that time. plz be aware of all those things, who are going to apply for home loan in banks

    • Yogi Cfp

      Thank you for providing us valuable information. This will be very useful for our readers who are looking to apply for home loan from SBI.

      • ravi

        I have finalized a property in Bangalore.
        Can i register the flat on guidance value(value fixed by govt) agianst market value
        if take loan from SBI??

        • Av Suresh

          Yes, Ravi. You can do that.

          • Sakshi

            Hi, in the recent past the bank has disagreed to register in guidance value and insists to register on agreement value which is huge additional money . please advise how to convince / communicate the bank

  • shantnu


    I have purchased an underconstruction property (possession in dec 2015).

    I have applied for sbi maxgain loan of 30lacs.

    Initially i was opting for 15 years loan term as I can pay the prevailing emi but one of my friend suggested that it would be better if I take the maximum tenure(25 years) and prepay the emi as I would pay it as in for a 15 year loan term.

    He said by increasing the tenure it will result in lower emi and will give me more flexibility to pay in excess and this excess payment will reduce the interest and principal .

    For example , If for a 25 years tenure loan has 9000 as emi ( 8500 interest and 500 principal ) and if i pay 30000 as EMI this will reduce the principal by 30000-8500 = 21500 .

    My question is whether the option he suggested to me is correct ?

    Is it more benefitable for me to take loan for longer tenure(25 years ) instead of 15 years ?

    • Yogi Cfp

      Longer tenure loan results in higher payout of interest if you pay the same EMI for the entire term. However, you can opt for part payments of the loan whenever you have lump sum amount in hand. Some banks do not allow you to pay higher EMI/part payments till 6 months to 1 year. Consider the charges even if they allow you to do so. Instead you can opt for a lower tenure loan with higher EMI and pay lump sum amounts whenever you can.

  • Santosh Sabale

    I applied for a home loan from SBI on 4/9/2013, got sanction SMS (only) on 19/9/2013. Branch manager
    asked me to submit NATP sanction plan, NA order (which were not
    submitted) and queries/clarificaions on search report. After solving
    all this (took long time due todelay by builder and advocate).
    Equitable mortgage done on 29/1/2014. Affidavits done on 5/2/2014. Then
    Agreement letter given/signed on 7/2/2014. First load disbursement done
    on 8/2/2014. Then what is Rate of interest?: ROI on date of sanction 19/9/2013 (effective 10.25) or ROI mentioned in Agreement (effective 10.1) or ROI on date disbursement (effective 10.1). Manage has opened my loan account at 10.25% and refusing to change this as per Agreement letter (10.1%). Please guide. Thanks.

    • Av Suresh

      ROI depends on the disbursement date and not the sanction date. So, you should get the loan at 10.1% p.a instead of 10.25%.

  • Amit Shukla

    Dear Sir,
    I took SBI Maxgain Home Loan with sanctioned limit for 30 L last year on an underconstruction property in Gurgaon.
    Total cost of property is 45 L (excluding Service Tax and Registery charge).

    Possession date is not yet clear as the construction is going slow. Written Date in BBA is middle of 2015.

    Following transactions have processed towards property payment:
    19 Lakhs Paid to builder from my pocket
    10 Lakhs paid to builder using SBI Maxgain Home Loan
    1 Lakh Interest amount on Moratorium period to Bank

    Total 29 lakhs has been cleared to Builder.

    16 Lakhs are due to builder in coming months (Which I anticipate would be cleared in regular installments every of 3-4 months since the construction of property is in progress and looking at the rate of last year.)

    Now my concern is following:
    a) SBI will start the EMI from July’14 which would be in range of 30 to 32 thousand on sanctioned amount.
    b)However my My current disbursal from SBI is 10 Lakhs only. My thought is, in normal Home loan sceanario, EMI should come in the range to 9 t0 10 thousand rupees. Which would avoid me from upfront liability of high cash payment from my current capital.

    I am expecting some surplus amount 2-3 lakhs from my salary as well in between the coming months.

    My question:
    Should I switch SBI Max gain to Normal Home Loan where I am paying the EMI basis on disbursed amount only in such scenraio explained above? is SBI allow to switch from Maxgain to Normal Home Loan.

    is Normal Home Loan more benecifal for my situation.

    I am sincerely looking for your advice as vital help as what is beneficial for me to do?

    Please advice I am confused.

    Thanking you very much in anticipation of timely reply!!

    • Sunil Date

      If bank is disbursiNg Loan at say 10% & accepting notional FD at 10 % what is in it for bank ?

  • Mugesh

    Hi, whether Occupancy certificate is a mandatory document for SBI to process loan?,when the flat is actually an Under construction project.

  • rajesh

    Hi, Will the engineers fees be part of housing loan ?

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