Not able to Understand “Available Balance” feature in SBI Maxgain ?

POSTED BY imchandan ON December 3, 2013 6:09 pm COMMENTS (9)


Sorry if i ll sound stupid because this is my first month with SBI and i am really confused here.

What i have understood is, ”Available balance” is the money you can withdraw anytime and when you put money, it gets added to ”Available balance”

1) on 10th Nov, my EMI 40848 get deposited to OD account and my available balance becomes 40848. I add more money in account and

2) till 30 Nov night, my available balance equals ”209282.43” which definitely includes the EMI which was credited earlier.

3) on 1 Dec, i am assuming that my ”Available balance” will go down max of EMI amount(40848) and it will be ~160000 but my actual ”Available balance” is 146806.43

I see a difference of ~27000 from my ”Available balance” . Can you please help me understand ? My loan amount is 4170000 and interest rate 10.5%. I understand that ”Book balance” ”Limit” ”Drawing power” everything also changed but i am only trying to understand where my money went because i should be able to withdraw 209282.43 – 40848 anytime.



9 replies on this article “Not able to Understand “Available Balance” feature in SBI Maxgain ?”

  1. ashalanshu says:

    Dear Chandan, thanks for the update. 🙂



  2. imchandan says:

    Hey Ashal,
    Just for FYI, i gave a cheque against my OD account and it didn’t get dishonored.


  3. ashalanshu says:

    Dear Chandan, that’s the thing I’m telling. As far as I know, SBi can not stop cheque facility against an OD account. be it Max Gain or regular OD account. After all why I w’d open an OD account if I can not use my personal money. 🙂



  4. imchandan says:

    That i also don’t understand. I just got the cheque book from SBI for my OD account few days back and i was assuming i will be using it. I conveyed the same message to SBI home branch, and they said that they haven’t got any notification from RACPC for suspending cheque on OD account yet.

  5. ashalanshu says:

    Dear Chandan, any explaination for not honoring cheque against OD account? I’m also having a normal OD account against my shares in ICICI bank and I can use cheques with out any problem. Why this specialized (il)treatment for SBI max Gain customers?



  6. imchandan says:

    I got the answer now. I went to SBI RACPC, and they explained me very well.
    So the thing is, my account opened on 21st Oct last month, and interest for which was ~12000 which i paid, the system calculated my principal = EMI amount – interest which is ~27000 and this got minus from my DP account. They call this term as “Projected” interest or principal. they gave me amortization schedule which shows everything is okay, and from next month onward, i will be in normal calculation.

    1. imchandan says:

      One more thing RACPC told me that we shouldn’t use SBI maxgain OD account cheque book now because SBI has stopped honoring cheques of OD account. Are you all aware about it ?

  7. imchandan says:

    Hello Ashal,
    I sent you statement on your email.


  8. ashalanshu says:

    Dear chandan, please mail me your Account statement. I want to understand it first before making comment.



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