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POSTED BY ON September 29, 2013 4:47 pm COMMENTS (5)
Hi,
I am really confused with SBI homeloan. Tried reading all the info here but then also doubts are there. Pls help me to get clear in it.
Property is Under-construction. Only 3,84220 has been disbursed. I will be paying for pre emi interst for 1.5 years. How can i maximise my saving with it. If i have monthly surplus (5000 Rs). how can i utilize it.? If yes do i have to put it in OD account?
Pls suggest. How to utilize this SBI maxgain features suitably with an example from the data below. Loan for 20 years
Regards.
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Transaction Accounts
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| Account No. / Nick name | Branch | Available Balance | Transactions |
| OD | SECTOR , NOIDA | INR 4,15,780.00 | Click here for last 10 transactions |
| SAVING | SECTOR , NOIDA | INR 10,719.00 | Click here for last 10 transactions |
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Loan Accounts
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| Account No. / Nick name | Branch | Outstanding Amt | Transactions |
| SECTOR 7, NOIDA | INR 3,175.00 | Click here for last 10 transactions | |
| Description | SBI SURAKSHIT HL MAXGN AUG 12 |
| Book Balance | -3,84,220.00 |
| Available Balance | 4,15,780.00 |
| Limit | 8,00,000.00 |
| Uncleared balance | 0.00 |
| Drawing Power | 8,00,000.00 |
| Currency | INR |
| Rate of Interest (% p.a.) | 10.05% |
| Lien Amount | 0.00 |
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Dear Sandeep, your OD account is your actual loan account. The surakshit account is basically meant for your life insurance policy prem. payment.
You need to keep an eye on your available balance and book balance in your OD account.
thanks
Ashal
Dear Sandeep, if you park your 5000 rs. for calculation purpose, your loan balance ‘ll read as 379000 rs. and accordingly you w’d have to pay interest on it. Next month, when you park another 5000 Rs. it ‘ll be read as 374000 Rs. and accordingly your interest ‘ll come down. this ‘ll happen months after months and due to your parked surplus, your interest saving ‘ll keep on increasing.
thanks
Ashal
Thnks & where will i see this deduction (Book Balance??) & in which account i hv to put this amt. as u know 1 is OD and other is loan account.?
regards
Dear Sandeep, to get more benefit from your Max Gain, you need to park that 5000 Rs. in your Max Gain account. Please do note as the loan is partial disbursed, you can not withdraw your own money till final disbursal is done. the excess amount parked by you ‘ll help you to save interest outgo.
thanks
Ashal
Thnks ashalanshu, Pls elaborate like since my loan is partial disbursed, how will my paying 5000rs excess of my pre emi help in interest. Will the extra be deducted from 3,84,220.00 that i hav availed?