SBI Max Gain Available balance includes principal portion of EMI

POSTED BY Madan Mohan ON March 19, 2013 11:12 am COMMENTS (2)


    I have gone through other posts on SBI Maxgain which are very informative but I think my query is not part of them.

     My first EMI of SBI Maxgain Home loan got deducted from my savings account last month (Feb 2013) and it got credited to my maxgain OD account. I could also see this credit in my SBI maxgain netbanking. Full disbursement is not yet done. But I have started full EMI starting Feb 2013.  Interest portion is rightly debited at the end of Feb from the available balance.

   My query is regarding the principal portion which is still part of available balance. Wasn’t it supposed to be deducted from available balance on the date of EMI ??   OR is it the case that principal starts deducting only after disbursement.  I understand that it won’t affect interest.

    When I had gone to RACPC office on the date of document execution (loan agreement), I came to know that they have put moratorium period of 9 months. But I told them that I want it to be zero months and same I had entered while filling home loan application. So, they asked me write a letter to SBI, AGM to change it which I did there itself. Since principal is not getting deducted from available balance, Can it be the case that my moratorium period is still 9 months ? But how could it be because full EMI is already started. 🙂


Thanks in advance for your help,

Madan Mohan

2 replies on this article “SBI Max Gain Available balance includes principal portion of EMI”

  1. Dear Madan mohan, please rwlax. Due to Moratorium, your principal is not adjusted but same is available to withdraw. As the money is available there, the benefit of lesser interest for next month ‘ll be there for you. Once full disbursal is done, you ‘ll get the principal adjustment after completion of 9 months’ mort. period.



    1. Hi Ashal, if SBI gives you moratorium and full EMI is getting deducted from your account but instead of adjusting against principal or interest, it is showing in the available balance. Is it advisable to go with this approach since it is increasing your parked money balance during the moratorium period or should one doesn’t opt for it and instead tell bank to start adjusting it against principal?

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