Principal deduction from Max Gain

POSTED BY Satish ON September 3, 2013 2:27 pm ONE COMMENT

Hi,

I have a sbi max gain account. I took a loan of 2640000 and my emi started from Feb 2013,

Currently my account shows the following details.

Account Number 00000032681462032
Description SBI H L MAXGAIN AUG12
Name Mr. AMIRISETTI SATISH KUMAR
Book Balance -25,09,655.00
Available Balance 1,26,408.00
Limit 26,36,063.00
Uncleared balance 0.00
Drawing Power 26,36,063.00
Currency INR
Rate of Interest (% p.a.) 9.95%
Lien Amount 0.00

 

My question is, I have been paying EMI from seven months, but still my principal repayment as per the calculation is only Rs. 3937/- (2640000 – 2636063). Is this correct? Please help me in understanding this.

One reply on this article “Principal deduction from Max Gain”

  1. Dear Satish, was there any moratorium period? Please contact your loan serving branch for the same.

    thanks

    Ashal

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