Park full amount of housing loan in Maxgain and gain interest?

Hi,
Iam planning to take a housing loan of 22 lakhs under Maxgain and i have equivalent funds available with me which i may not require for another 10 years. If i opt to park the whole amount for next 10 years and avail a repayment period of 10 years, will i be left with 22 lakhs at the end of my loan tenure with my housing loan stands closed ? Does that mean i will be paying out all the EMI for the entire loan only from the interest i gained every month with my parked amount ?
Thanks in Advance for your clarification.
Regards…
Dixith

Hi Sujay,
The bank knows that people can do the thing you are trying to do. So, they normally look at your remaining loan balance and expect you to at-least have 6 months of loan balance (monthly EMI * 6) to keep the loan account open.
Else, they will ask you to close the loan immediately.

So, if you want to park your money there, you can do it, but, make sure you have sufficient remaining loan balance to keep the EMI running.

Please understand that they are int he business of earning money through interest.

Dear Anil,
Here is my situation and i need your expert advice.

Loan/EMI start date: Mar 2013

Book Balance 16,327.56

Available Balance 28,22,157.56
Limit 28,05,830.00

Drawing Power 28,05,830.00

Rate of Interest (% p.a.) 7.55%

I pay an EMI Rs. 44,582/month.

I need to understand this data, i have been sending emails to the SBI but never hear back from them.
whats are the options i have.

  1. Should i pre-close my loan account?

  2. park this fund in the loan account and let the loan continue?

  3. others?

Please advise.

Thanks.