Transfer money from Maxgain OD account to savings account

POSTED BY Manoj Mathai ON August 12, 2013 2:37 am COMMENTS (56)

I’ve read somewhere that the best way to use an SBI Maxgain account is to park most of the savings in the Maxgain OD loan account and then just before the day the EMI is cut from the savings account, the EMI amount should  be transferred from the Maxgain account to the savings account. I’ve tried to set this up via SBI’s ‘Standing Instruction’ feature. But I don’t find my Maxgain OD account in the ‘from’ account list. It is present only in the lists of accounts that can be credited. What should I do to get this working ?

56 replies on this article “Transfer money from Maxgain OD account to savings account”

  1. Santhoah says:

    I am getting the same issue now. It says same error transactions schedule repayment is invalid. Any solution for it. Very urgent

  2. Senthil says:


    Currently i am outside India, I want to transfer some amount from my MaxGain available balance to my savings account.
    Please let me know how to get the transaction rights. Currently i am able to transfer money only from savings account to Maxgain account.

    1. Hi Senthil

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that


    2. Vijay says:

      What was your resolution to this?

    3. Hari says:

      You can submit a letter in your loan processing branch requesting to have access to OD account for transactions. Take signed letter from that branch and submit it to loan disbursed branch. Within 2 days the access will be provided. Later on you can do transfers

  3. ROhan says:

    I have transaction rights on my maxgain OD account and have transferred funds to my savings accounts before. But now I am getting the error that repayment schedule is invalid. Can some one please help.

    1. Kulbhushan doshi says:

      Did it work, Rohan ? Even i am getting the same error now..and i have been transferring funds earlier too…is this because i am trying on a bank holiday (fourth saturday) seems unlikely though?..

    2. Manish says:

      I am also facing same error “Transaction Status Repayment Schedule is Invalid.” while transferring money from OD account to saving account,
      How to resolve this error. I am unable to visit branch for few more days, Please let me know in case any solution found .

  4. meganathan says:

    i am having some amount in my od account.but i cannot tranfer or withdraw or purchase…that account is not visible in net banking.. but visible in mobile app.hoe to do this…in upgrade level its shows no account to upgrade..

    1. Hi meganathan

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that


    2. Nisha says:

      u need to get the transactional rights for the maxgain account from the branch.

  5. Arg says:

    Hi Friends,

    I was charged Rs 115 as transfer charges in my max gain account ..i transfered 2 lac from my hdfc to sbi max gain home loan account

    Why sbi is charging for this transaction ? For this purpose only we have taken this loan

    Any idea friends ??

    1. Hi Arg

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that


  6. Mandar says:

    I am not able to transfer money to my Maxgain OD account. I am transferring money from my SBI saving account. Transaction failure error is coming. (I tried during different day times without success) I can transfer money from Maxgain OD account to saving account but not the reverse. Is there different access required on OD account to receive money from other accounts? Otherwise I can’t park my money to Maxgain account which is its main benifit

    1. Hitesh says:

      I was also facing the same issue. Try transferring from different bank account, in my case it is working.

    2. Hi Mandar

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that


  7. Ashok says:

    Thanks Ranjit

    I have got success to upgrade the level as per your suggestion…….


  8. Ranjit says:

    Login to your SBI account and go to e-services -> Upgrade Access Level -> select the OD account -> Choose either Limited or Full option (Mostly your current access level is View Only)

    1. Dhan says:

      Hi Ranjit,
      I tried per your advise and got an error “Sorry, unable to process your request. Please try later.” I tried the limited transaction rights, it didn’t work out.
      Does this mean, I will have to approach the branch only to get this resolved? seems very inefficient.

      1. Amit says:

        Hi Dhan, I am getting same error, Did you get a solution for this at some point of time? can you please share your experience?

      2. Mohit Bhadade says:

        I am facing this same issue and the people at the bank are unable to resolve.

        Any ideas how to proceed?

    2. Pari says:

      Thanks Ranjith,

      It works for me

    3. vivekananthan says:

      Thanks Ranjith, it works for me too.

    4. Anupam says:

      Thanks – it worked for me also.

    5. Avinash says:

      I got this error “Sorry, unable to process your request. Please try later.” Do i have to contact branch for it

    6. MANOJ says:

      Thanks Worked for me 🙂

    7. Deepak says:

      Thanks Ranjit. It worked!!

    8. Ritesh says:

      Thank you Ranjit. Your suggestion really worked. I was wondering how to do it as I had to do some very important transaction to repay my home loan. I have been able to successfully put my request. I need to wait for 1 hour before my maxgain a/c is enabled to do transaction. Thanks again!

    9. Shwetha says:

      Hi Ranjit,

      I am currently in US and my mobile number is not active.
      I tried changing the access level but it says OTP will be sent to my mobile number.My mobile number is active for whatsapp.
      Please let me know what i need to do.

    10. Umesh says:

      Thanks Ranjit,

      A very precise and valuable information.

    11. shrawan says:

      Thanks, It does help, Lets hope that I would get the access

    12. swapnil says:

      Hello Ranjit,
      “Upgrade Access Level” options is unavailable now.
      Do you know any other way?

      1. Jagoinvestor says:

        Didn’t understand your query

    13. Neeraj says:

      Thank you Ranjit

  9. Nilesh says:

    I am getting Funds transfer failure error as “Transaction result into closure of loan account. Please contact your branch.” when I transfer funds from my SBI saving account to Maxgain OD account. I tried to contact branch many times, but they are unable to resolve this problem. Even I paid the due of Maxgain suraksha account then also same problem occurs. Please suggest.

  10. Dear Manoj, at what time you tried to transfer? In all probability you tried in night during end of day core banking back up operation time & that’s why you received that message. Please use account between 6.01 to 21.59 Hrs.



    1. krisna says:

      Thanks. I too got same error. Will try tomorrow.

  11. Manoj Mathai says:

    I got transaction rights but when I try to transfer some amount, it says “SBI Transaction Status : Repayment Schedule is Invalid. Please contact your Branch.”. Any idea what that means ?

    1. Raunak says:

      What was the error and how you got it resolved. I am also getting the same error.

      1. Sandeep Krishnan says:

        I am also getting the same error. Can someone help on how this was resolved?

      2. Srinivas P says:

        i am also getting this error from yesterday. I tried calling customer care . they are also not aware of issue ..Pleasehelp how you have resolved

    2. Ashok Mittal says:

      There is a time boundation on maxgain od account. if you perform transaction after 8pm till 8am (I guess), you will get ‘repayment schedule is invalid’ error.

      Try at some time, it will work properly.

      1. Srinivas P says:

        Hi Ashok
        i tried at 11:00am in bank timings. still same error

        1. NRT says:

          I am facing the same issue
          Transaction Status : Repayment Schedule is Invalid. Please contact your Branch.

          Nobody at branch picks the call and they won’t reply on email too!

          Have you all found any way to solve this issue ?

          1. Hi NRT

            I suggest that you now take the RTI route. You can file the RTI and ask your queries to them. THey are bound to reply you on your queries.

            Its a bit long cut, but works well


          2. Kennedy says:


            Even I am facing the same issue, could​ someone please help me in providing the information on this.

      2. Hrushikesh says:

        This message was big help for me yesterday. Even I faced ‘Repayment Schedule is invalid’ error and was worried why transaction of transfer from OD account is not going through. I was trying transaction midnight. When i tried today morning after 8am it went through

        1. Jagoinvestor says:

          Thanks for sharing !

    3. Praful says:

      I am also getting the same error. Not sure on what was the problem or how to resolve

      1. srinivas says:

        I am also facing same issue.

    4. Amit says:

      I am also getting same error and bank employees as well as call centre guys are not aware about this error. They need to check.

      1. Vinod Ramanathan says:

        Hi Amit, I also have the same problem, could you please tell me how you resolved it.

      2. Vinod Ramanathan says:

        Hi Amit, could you find a solution to the problem?

  12. Jagdish Gahlot says:

    I have also MAXGain and the load is fully disbursed, but my possession letter is not given by builder, as completion certification is yet to come by municipal office and builder says it will take another 3-4 month atleast.
    Now my question is whether I will be able to use my OD account for balance transfer or not till the time I submit possession letter. Also what is the right time to transfer amount int OD and vice-versa for withdrawing?

  13. Dear Manoj, you are not having transaction rights for your amx gain account. this is the reason you are not able to withdraw. Please contact your loan serving branch to get transaction rights.



  14. says:

    this Q has been answered elsewhere on this forum. pls check if:
    1. the entire loan amount is disbursed
    2. if yes, request for transaction rights at the SBI branch where you have the loan account

    when you log on to netbanking and see the home loan account details, you might see a message saying that you have only viewing rights, pls contact the branch for transaction rights.

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