Upendran from Chennai said :

Hi all, Recently I converted my housing loan from Kotak to State Bank of Bikaner and Jaipur. for the last whole year the ad of govt banks constantly attracted me to shift my home loan. But I was apprehensive of their service and speed. After a good thought I decided to go, as the teaser interest rates were very cheap compared to the rates I was paying and also Kotak just reduced a bit of the rate and it was still in double digits. I first contacted SBI but they had a very peculiar condition that they want to see the original documents before disbursal which was not agreeable.So I got an idea to try the associate banks of SBI. I stumbled upon two banks which were near to my office. I first went to SBBJ and though the process was slow (it took a month) and required frequent followup, the staff were courteous and responsive and the product - Maxgain - is really superb. While banks like HSBC who have a similar product charges a hefty interest, this product - Max Gain - is sold like ordinary home loans. The main concept of the loan is it operates as a Over draft. So if you have money you can put it there and use it back when required using ATM card / cheque book / net transfer.