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. Ashal Jauhari says:
    September 3, 2013 at 5:55 pm

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

    thanks

    Ashal

    Reply

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