Hello sir,

I have recently switch my home loan from LIC to SBI  (Max gain), But I am confused the way it is getting calculated. I wanted to transfer 1 lac in my OD account but  this month I checked my OD account and surprise to see my book balance  -2990836 which was -2960734  till 23rd Oct.My loan amount is 30 Lac. 30 Lac loan got approved on 12th July and cheque got clear on 23rd of July.

Initially I took loan on 9.95%. Last month it is changed to 10. 05%..

My EMI date is 25th of every month.

When I took loan my initial OD details were–  (On 9th Aug 2013)

• Book Balance -30,16 356
• Available Balance –  0.00
• Limit –  29,73602
• Uncleared balance –  0.00
• Drawing Power – 29,73602

Query –  Why my Book balance is showing 30,16 356 which is greater that my loan amout  30 Lac?

So far I have done below transaction in my OD account. 

1.        On 12th July Rs 30 Lac Disb towards payment by SBI.

2.        On 31st July Debit Interest 16356

3.        20-Aug-2013  (20-Aug-2013) BY TRANSFER
INB  II11345266 TRANSFER FROM 33085818922 Mr. SADANAND KALURAM R     100.00

4.        21-Aug-2013  (21-Aug-2013) BY TRANSFER
INB EMI  II11358453 TRANSFER FROM 33085818922 Mr. SADANAND KALURAM R     30,000.00

5.        24-Aug-2013  (24-Aug-2013) BY TRANSFER
INB EMI  II11382849 TRANSFER FROM 33085818922 Mr. SADANAND KALURAM R     12,700.00

6.        27-Aug-2013  (27-Aug-2013) DEPOSIT TRANSFER  TRANSFER FROM 33085818922 Mr. SADANAND KALURAM R     28,852.00

7.        29-Aug-2013  (29-Aug-2013) BY TRANSFER
INB Transfer  II11454652 TRANSFER FROM 33085818922 Mr. SADANAND KALURAM R     100.00

8.        07-Sep-2013  (07-Sep-2013) ATM WDL
ATM 3626 SBI RABALE 2ND ATM AIROLI MH IN     100.00

9.        25-Sep-2013  (25-Sep-2013) DEPOSIT TRANSFER  TRANSFER FROM 33085818922 Mr. SADANAND KALURAM R     28,852.00

10.     30-Sep-2013  (30-Sep-2013) DEBIT INTEREST     24,339.00

11.     31-Oct-2013  (31-Oct-2013) DEBIT INTEREST     25,312.00

Now today my OD account status is –

• Book Balance -29,90,836.00
• Available Balance –  0.00
• Limit –  29,62,237.00
• Uncleared balance –  0.00
• Drawing Power – 29,62,237.00

Prior to this month (Till Oct 23rd ) OD status was showing Available balance some what Rs 1075 with Book balance  somewhere  = 29,73000.

After Oct moths EMI it is showing as above.

Query – Can you please confirm whether this is correct and there is no mistake in calculation  as per my understanding my book balance should show less that that of earlier book balance amount(i.e. 29,73000) with this Oct month EMI?

Appreciate if you could answer this query on priority so that I can go ahead and put my saved amount in OD. Currently looking at above scenario I have no confidence to put this money in my OD account. (Sorry for long question)?

Please let me know any other info you require.