I am planning to avail a home of around 45L from SBI. For simplicity I assume that the EMI will be 45K / month after full disbuirsement. However it will take another 2 years to get the possesion. I am planning to go for a full EMI right from day 1.
I would like to know
1. If my disbuirsement amount is 4L, in normal circumstances, the Pre EMI would have been 4000 / month. However since I am paying 40K, how is the principle and interest adjusted.
2. Is it that the balance amount of 36K is adjusted against the principle against the disbursement made by the bank?
3. If I have parked some surplus amount in max gain account, in my opinion that amount will be taken into consideration only after the full disbursement is made irrespective of whether I have started a full EMI or PRE EMI. Till then the anmount kept in max gain will be as good as dead investment. Please correct if my understanding is wrong.
Thanks,
Hemant