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POSTED BY ON November 13, 2014 2:40 pm COMMENTS (5)
Hi Team
I have transferred my existing loan from LIC Housing Finance to SBI MAX GAIN and the loan amount is 28.40 L. The EMI amount is 30,466 (which includes RINRAKSHA EMI also). Now my first EMI decuted from SBI Savings account on 10th Nov.
1. But As per below data the drawing power is still same, ideally it should be reduced by some amount rt?
2. Also I came to know that there is some moratorium period till then drawing power will not get reduced?
3. Also when I am login to SBI online portal, under RIN RAKSHA I am not able to see any credit transaction entry also. However they told me EMI 30466 includes RIN RAKSHA EMI also.
Kindly help to advise on above queries.
| Account Number | 00000034339057892 |
| Description | SBI H L MAXGAIN OD (AUG14) |
| Name | Mr. RAHULKUMAR VIRBHADRA RAKHONDE |
| Book Balance | -27,26,852.00 |
| Available Balance | 1,13,148.00 |
| Limit | 28,40,000.00 |
| Uncleared balance | 0.00 |
| Drawing Power | 28,40,000.00 |
| Currency | INR |
| Rate of Interest (% p.a.) | 10.15% |
| Lien Amount | 0.00 |
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I am also facing the same issue. My construction is completed and now I got the complete control for INB and also have cheque book, but still drawing power is not getting reduced.
I am also facing the same issue. SBI staff don’t respond to mails. For any home loan related queries branch staff will ask you to contact RACPC and dont have words to explain about RACPC staff.
I too facing the same problem..Please let me know incase anybody got clarification.
I’m also facing the exact same problem. The drawing power and limit doesn’t reduce. Some employee in RACPC told me that because I opted for 20 year tenure – first 5 years (till 2017) in my case, only applicable interest based on my book balance will debited from my account. Actual principal portion repayment will get started only after that.
Is this real?
ramki982 Please elaborate. I am not sure where is the major chunk of principal amount is going. Whatever the amount I park in maxgain account, drawing power reduces by few thousand rupees.
RACPC and home branch guys are not responding to my queries. This is very frustrating.