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POSTED BY ON September 21, 2013 8:33 pm COMMENTS (6)
Hi,
When making my final disbursement, the bank has paid Rs,6000/- less to builder. Builder had told me in advance that this problem is reported by many customers having SBI MaxGain Home Loan.
What can be the reason for this less disbursement by the bank ?
My Account Balance is shown as below after this final payment:
| Book Balance | -25,79,388.00 |
| Available Balance | 2,02,139.00 |
| Limit | 27,81,527.00 |
| Uncleared balance | 0.00 |
| Drawing Power | 27,81,527.00 |
| Currency | INR |
| Rate of Interest (% p.a.) | 10.3% |
| Lien Amount | 0.00 |
What does the above mean ? I have taken loan for Rs. 28 Lacs and final payment to builder has been made. How come it’s now showing the 28 Lacs amount anywhere ?
Thanks in Advance.
Prashant
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Dear Prashant, if you do have netbanking, you an download the same on your own.
thanks
Ashal
Dear Prashant, out of 28L Rs. the current Drawing power is your outstanding loan balance and the difference is the amount paid back by you as loan repayment. so 2800000 – 2781527 = 18473 is the loan amount repaid by you. Regarding this 6000 Rs. less payment, I need to check your account statement from day one of your loan. With out which I can not comment.
thanks
Ashal
Dear Ashal,
Thanks for the reply.
It’s strange that only 18,473/- principal is repaid in 2 years time … Is there any excel/formula which I can use to see how much principal and interest is being getting reduced for my every EMI ?
For the second point of 6000/-, it will be difficult for me to send full statement from day one. I will check with bank about this though it may require lot of patience … 🙂
Regards,
Prashant
Dear Ashal,
I have one more query about this. By observing my above balances, can you tell me how much principal has been repaid by me since August 2011 ?
Thanks in Advance.
Dear Prashant, when did the first part disbursal was made to Builder by SBI? Please do provide the dates of al the disbursals to me. When did you start your EMIs?
thanks
Ashal
Dear Ashal,
The first disbursal was made in August 2011. I have opted for the full EMI payment since start by requesting to SBI about it instead of Pre-EMI.
From August 2011 till date, payments have been made as per the construction of the project almost every 2 months.
This was the final payment made where they have paid Rs.6000/- less to the builder.