POSTED BY September 3, 2013 2:27 pm ONE COMMENTON
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.
|Description||SBI H L MAXGAIN AUG12|
|Name||Mr. AMIRISETTI SATISH KUMAR|
|Rate of Interest (% p.a.)||9.95%|
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.