Guys,
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.
Thanks,
Chandan