POSTED BY January 23, 2012 3:11 pm COMMENTS (986)ON
I have taken SBI MaxGain housing loan couple of years back but mt using it to maximum extent. Does anyone taking benefit of Overdraft facility of this type of account to reduce the interest? Please share some tips to save interest amount on the hosing loan. I plan to use following technique :
1. Transfer additional amount from my salary account to OD account.
2. Get ATM card for OD account and start using OD ATM card rather than savings account ATM card.
3. All short term amount will be transferred to OD account.
4. As and when needed, use OD cheque book to transfer the money to savings account or even to third party payments(I did not see any option online to transfer money from OD account back to savings account)
Any help will be greatly appeciated if you can help me understand these queries on SBI MaxGain.