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.