Dear MAnish/Ashal,
Once again I’m asking for Maxgain querries.I know and gone through the long and good replies given by you on various queeries on same subject.But still I don’t understand same to full.It will be very helpful if you make me clear.
I ahve taken a load of 20.4 Lacs and including Rin raksha the amount ends to 20.89 lacs for 20years tenure and EMI of Rs20,300
My queery is as follows:
1) After my loan got sanctioned there were two types on account in theSBI bank
a) SBI SURAKSHIT HL MAXGN AUG 12 (which is in name of both myself and intrim guarntor)
b) MAXGAIN SURAKSHA (In my name only)
i dont understnad how these two account will work when i pay the loan? Cna anyone explain with simple example if possible? Why SBI surakshit accound has also the name of intrim guarntor in it?
2) I want to use MAxgain facility upto its full.But i have only part knowledge of same.Like i know i can park my surplus amount in the OD account of maxgain which will reduce the intrest out-go but principal amount will remain same,EMI will also remain same.But i dont understand that how much intrest will overall comedown .for e.g my EMI of Rs 20,300 is just started .I have parked surplus 1lacs in OD account which i will make it permanent in additio nto EMI’s and will not withdraw it then how much overall i will benifited by this.
Thanks for the cooperation