How to Know the Principal Paid till date for SBI MaxGain

POSTED BY Parag Gupta ON February 5, 2013 3:36 pm COMMENTS (4)

Hi All,

Can you pls suggets how can I know the principal Paid till date for my loan. I already have online access to my MaxGain account.Is there a way to calculate it by looking at the account details?

Brgds

Parag

4 replies on this article “How to Know the Principal Paid till date for SBI MaxGain”

  1. Dear Parag, for a runing loan, the limit & power ‘ll run same. It’s only after a bounced EMI that limit ‘ll increase over & above power. Effectively meaning, it ‘ll show you your actual loan outstanding amount due to bounced EMi + added penal interest into normal o/s loan amount.

    Thanks

    Ashal

  2. Dear Parag, the drawing power as on date is your actual outstanding balance. The difference from the original taken loan amount is the loan repaid by you till date.

    Thanks

    Ashal

    1. Parag Gupta says:

      Thanks Ashal.

      1. Parag Gupta says:

        Hi Ashal,

        What is the difference between the limit and drawing power field? In my case it shows the same value for both of these fields. Three EMI’s for my loan have already been paid.

        Book Balance -22,02,893.00
        Available Balance 7,89,544.00
        Limit 29,92,437.00
        Uncleared balance 0.00
        Drawing Power 29,92,437.00
        Currency INR
        Rate of Interest (% p.a.) 9.95%
        Lien Amount 0.00

        Thanks for your help

        Brgds
        Parag

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