Please help me in understanding my housing loan statement

POSTED BY sachinbhoinallu ON January 28, 2014 11:40 am COMMENTS (2)

Dear sir,

can you pls explain me my account statement. My loan is partially disbursed. As of today I have parked Rs. 3,75,000 of surplus amount in my account. My emi of 19,599 has started from Aug’13. Does my parked amount reflect in the statement and am I benefited with this amount.

Account Details
Account Number XXX
Description SBI H L MAXGAIN AUG12
Name Mr. SACHIN VASANT BHOINALLU
Book Balance -9,39,698.50
Available Balance 8,20,814.50
Limit 17,60,513.00
Uncleared balance 0.00
Drawing Power 17,60,513.00
Currency INR
Rate of Interest (% p.a.) 10.25%
Lien Amount 0.00

Regard’s

Sachin

2 replies on this article “Please help me in understanding my housing loan statement”

  1. ashalanshu says:

    Dear Sachin, what was your original sanctioned loan amount? How much you have availed till date? How much more is to be disbursed?

    Thanks

    Ashal

  2. Kartik Sudarshana says:

    Hi Sachin,

    Your surplus amount would be reflected in “Available Balance”. Since the loan is partially disbursed, Available balance shows (surplus + remaining loan disbursement). When you parked 3,75,000m, your book balance would have reduced by this amount and available balance would increase by the same amount. Interest is calculated on the “book balance” and hence the statement seems to be perfectly fine.

    Regards,
    Kartik

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