POSTED BY October 12, 2013 7:14 am ONE COMMENTON
My name is Vijeth and I have recently availed a SBI Max Gain Loan of 25 Lakhs. The details are mentioned below.
Description:SBI H L MAXGAIN AUG12
Name : Mr. VIJETH K SANKETHI
First EMI : 10th October 2013
EMI amount : 26789.00
Loan Period : 15 years
Book Balance : -6,00,147.00
Available Balance :18,99,853.00
Uncleared balance :0
Drawing Power :25,00,000.00
Rate of Interest (% p.a.)10.05%
The first EMI was deducted from my salary on 10th of October. However if I am not wrong, the Drawing Power i.e. Outstanding Loan Amount should be reduced by 26789.00. But I can see that it has not happened. Can anyone please explain what actually has happened here? It would also be really helpful if anyone can help me with the figures here?
Thanks and Regards,