On which balance, SBI max gain account is activated

[Sameer Kapoor]

I applied for home loan from SBI for Rs. 48 lakhs. Before house could be registered on my name, SBI released payment of Rs. 44 lakhs. Later, due to hurry, I arranged the remaining amount and paid to builder. I requested bank to activate maxgain account. But they said that it can be activated only for Rs. 44 lakhs. I want the bank to pay remaining Rs. 4 lakhs to me. What I should do?

[samkapoor77]

Bank is absolutely right in rejecting your demand. If you want money, you can apply for Home Equity loan on the same house from SBI.

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