Hi,

Me and My father jointly took a home loan from SBI for a flat during May 2014. The amount sanctioned was Rs. 22,40,000 /-. for a period of 15 years at 10.15 % interest rate (floating). 

According to the arrangement letter given by the bank, we were given a moratorium period of 6 months from the date of disbursal. EMI fixed is written as Rs 24,980 /- after the moratorium period.

I already had a SBI Savings account, to which I can see a Loan Account is also added with following information :

Account Number XXXXXXXXXXXXXXX

Name Mr. XXXXX

Description SBI HOME LOAN TL (DEC13)

Limit 22,40,000.00

Drawing Power 21,23,935.00

Outstanding Amount 21,15,333.00

Rate of Interest 10.15

Currency INR

C.Y.YTD Interest 61810.0

P.Y.YTD Interest 0.0

My question is :

1. What are C.Y.YTD Interest and P.Y.YTD Interest ?

2. What are Drawing power and Outstanding Amount as mentioned above ?

The statement of my Loan Account looks like :

Last 10 Transactions

Date (Value Date) Narration Ref. No.      Debit              Credit

31-Aug-2014             PART PERIOD INTER      18,080.00

31-Jul-2014              PART PERIOD INTER       17,925.00

30-Jun-2014            PART PERIOD INTER       17,203.00

01-Jun-2014            O.S. INTEREST REP                            8,602.00

INT TRF FRM FRM XXX to XXX

31-May-2014           PART PERIOD INTER       8,602.00

17-May-2014           SINGLE SIDED ADVA       20,62,125.00

BY RACPC <PLACE XYZ>

Question 3 : What are these PART PERIOD INTEREST at the end of every month ? Even though I’m still in Moratorium period, do I need to bother about these figures ?

Please help me in clearing these doubts.

Thanks,

Saurav.