Can someone help me to understand SBI Suraksha ROI (Return on Investment)

POSTED BY [email protected] ON September 12, 2013 5:21 pm COMMENTS (4)

Hi guys,

 

Currently, my loan account is showing the following details

 

Account Number 00000032681877580
Name Mr. AMIRISETTI SATISH KUMAR
Description MAXGAIN SURAKSHA
Limit 38,638.00
Drawing Power 37,452.00
Outstanding Amount 35,756.00
Rate of Interest 10.7
Currency INR
C.Y.YTD Interest 1689.0
P.Y.YTD Interest 1319.0

 

ROI is shown as 10.7 but in some of the posts in this website, I saw 9.95% for loan account as well.

SBI MAXGAIN

why is it so? Can you help me understand this

Thanks in advance

Satish

4 replies on this article “Can someone help me to understand SBI Suraksha ROI (Return on Investment)”

  1. ashalanshu says:

    Dear Satish, the insurance prem. is meant for your life insurance. Please do check your loan agreement for aplicable ROI. It may happen that at the time of sanction of your loan, the spread over base rate was higher than the one offered to customers after you.

    thanks

    Ashal

  2. satish.amirisetti says:

    Hi Ashal,
    Do you need any other details from me. Please let me know.
    Apart from that, is this loan account belongs to personal insurance or property insurance ?

    Thanks in advance,
    Satish

  3. satish.amirisetti says:

    Dear Ashal,

    Thanks for your reply.
    My total loan amount is 2678000 (2640000 + 38000(insurance) approx)
    my loan got approved in December, 2012 and EMI started in Feb, 2013.

    Thanks,
    Satish

  4. ashalanshu says:

    Dear Satish, what’s the total loan amount for you? when did you took your loan?

    thanks

    Ashal

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