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POSTED BY ON September 21, 2013 1:26 pm COMMENTS (20)
Hello,
I have maxgain home loan account. When I transfer funds from my SBI saving account to maxgain OD account, a part of transferred amount goes to loan account and balance is credited to OD account. However when I transfer from non SBI saving account, complete account is credited to OD account. Kindly clarify.
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Hello Sir,
When attempting to park funds from SBI SB account to maxgain OD account, what condition/remark does one choose? Is it prepayment or ‘others’? How does the SBI system know that we are making a prepayment or just parking surplus funds?
Hi Akshay Agrawal
This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that
Manish
Thank you Manish Sir but the entire SBi Racpc does not have answer to this so seeking your guidance.
I have been asked to transfer the April EMI manually as the ecs only begins from May. So while transferring exact emi amount to OD account, what option do I choose? I have full transaction rights.
How does the SBI system know that it is a prepayment of simple parking of funds?
Sorry, but I have limited understanding on this product. I dont know the answer for sure !
hi
at date 5 aug i transfer 100000rs from my saving account to my home loan account. out of this 10000rs, 89000 credited in homeloan account and remaining 11000 amount credited in maxgain suraksha account. today i check my account. i seen here 11123 rs debited from my account as DEBIT TRANSFER TRANSFER TO 31851207331 CASH MANAGEMENT PRODU.
let me know,
what is the reason behind this?
pl help me.
Dear Nitin, please check the OD account after 2-3 days for credit of EMI.
thanks
Ashal
Hello,
From this month my regular EMI transfer from Axis Bank to SBI started through ECS. However the amount deducted from my Axis Bank is not reflected under my SBI OD account. Where will it reflect ?
Dear Nitin, as the EMI is to be debited from Axis bank, you need to maintain at least 1 EMI balance all the time in Axis bank.
thanks
Ashal
Hello,
My interest is getting deducted from my OD account and EMI will start from Jan’14. For EMI I have submitted a ECS mandate from Axis Bank (where I have salaried account) to SBI.
I want to know that do I need to maintain minimum balance in Axis Bank equivalent to EMI amount or I can transfer all the funds to my OD account, from where my EMI can be deducted ?
Dear Nitin, let me clarify it to you.
1. Transfer Transfer entries are meant for the amount deposited by you originally into your Max Gain account from your SBI SB account. A part of that transfer is coming directly to your Surakshit Account.
2. The negative account balance indicates that you have taken the loan.
3. The prem. was paid by SBI in a single debit entry in July 2012 for that 20606 Rs. amount.
Thanks
Ashal
Dear Nitin, I want to look into your account statement. Please send me the same on my personal mail id.
Thanks
Ashal
Dear Ashal, for my “Maxgain Suraksha” account, I find opening balance of -20,606.00 (for month of July’12 when loan was started). After that there is monthly debit of interest, mentioned as “Part Period Interest”. Some entries are periodic mentioned as “DEBIT TRANSFER TRANSFER TO 31852208330 CASH MANAGEMENT PRODU ”
I want to know :
1. What are these entries ?
2. How come account starts from a negative balance.
3. How is premium paid ? (I don’t transfer funds for premium)
Thanks.
DEBIT TRANSFER TRANSFER TO 31852208330 CASH MANAGEMENT PRODU ” what is mean this. is their refundable amount.
Dear Nitin, now I got it. the moment, you are transferring any surplus amount, it’s divided into 2 parts and the 1 part is going to normal OD account which is named as “SBI SURAKSHIT HL MAXGN AUG11″ where as the 2nd part is going into your insurance prem. account which is named as “MAXGAIN SURAKSHA”.
The First one is your actual OD account. Now as per internal set up of SBI, whenever you are transferring from SBI SB account, the amount is divided but in case of non SBI transfer, the amount is meant for the designated account and hence credited in full without any split.
thanks
Ashal
Thanks a lot Ashal 🙂
hi
at date 5 aug i transfer 100000rs from my saving account to my home loan account. out of this 10000rs, 89000 credited in homeloan account and remaining 11000 amount credited in maxgain suraksha account. today i check my account. i seen here 11123 rs debited from my account as DEBIT TRANSFER TRANSFER TO 31851207331 CASH MANAGEMENT PRODU.
let me know,
what is the reason behind this?
pl help me.
I’ve the same issue. Lumpsum money deposited in maxgain is split and goes to suraksha. Question is, is there a way to retrieve money gone to suraksha?
Dear Nitin, can you elaborate Loan account and OD account?
thanks
Ashal
Dear Ashal,
When I logon to my onlinesbi, I see 3 accounts:
1. Saving bank account.
2. Over Draft Account (Description mentioned as “SBI SURAKSHIT HL MAXGN AUG11”
3. Loan Account (Description mentioned as “MAXGAIN SURAKSHA”
Now when I transfer funds to my Over draft account (i.e. 2), a part of it automatically goes to Loan account (i.e. 3)
Just to add to earlier post, I have also insured the loan from SBI.