I found that SBI magnum type of Overdraft Accounts are good for loans now a days.
Basically i found following benefits with my own experience.
1. This account is simple to operate and has more flexibility compared to other loan accounts.
2. It is like you save money for future use with the same loan opted one time.
3. If you have say loan of 10 L and have 2 L at hand its good to deposit in this type of account and you carry liquidity all the time and also you will get benefited by loan interest rate reduction.
4. If you need money in future you can simply NEFT/Cheque/ATM type of transaction to get amount.
5. You dont need to run behing personal loans, lots of documentations etc.
6. It will help you to plan further for small small other investments in real estate which is not possible if you have regualar type of loan accounts as part time payment is never liquid or can be encashed.
7. Each rupee you save in this account saves loan interest and hence you will gain lots of benefits.
SBI Max Gain has following nice features:
1. SMS alerts,
2. ATM, Cheque Book, Online transaction facility
3. Good transaction history and records facility
4. No need to run to banks each time for any data every thing is online.
5. Has monthly statement also sent to email ID automatically which is helpful.
Hope this information helps you to plan your loans.
Basically i found following benefits with my own experience.
1. This account is simple to operate and has more flexibility compared to other loan accounts.
2. It is like you save money for future use with the same loan opted one time.
3. If you have say loan of 10 L and have 2 L at hand its good to deposit in this type of account and you carry liquidity all the time and also you will get benefited by loan interest rate reduction.
4. If you need money in future you can simply NEFT/Cheque/ATM type of transaction to get amount.
5. You dont need to run behing personal loans, lots of documentations etc.
6. It will help you to plan further for small small other investments in real estate which is not possible if you have regualar type of loan accounts as part time payment is never liquid or can be encashed.
7. Each rupee you save in this account saves loan interest and hence you will gain lots of benefits.
SBI Max Gain has following nice features:
1. SMS alerts,
2. ATM, Cheque Book, Online transaction facility
3. Good transaction history and records facility
4. No need to run to banks each time for any data every thing is online.
5. Has monthly statement also sent to email ID automatically which is helpful.
Hope this information helps you to plan your loans.
1 comment:
Hi Madhava, is SBI Max Gain still the best, any updates over the past 4 years or so?
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