Hi,
I have applied for SBI maxgain homeloan on 3rd march 2013 (25L Loan+61k insurance) for under construction house.
House will be completed in October 2013.
I got SMS regarding sanction on 29th March 2013.
I got the mail from RACPC AGM on April 16th 2013. They fixed my appointment on 23rd April 2013.
On that day all formalities have been completed. They disbursed 10L amount to the builder after 5 days.
In between 16th april and 23rd april, SBI people
created two accounts in my Savings account (Transaction account (i think this OD Account) + Loan account (I think for insurance)).
My EMI will starts from 10th June 2013. I have few queries regarding my loan.
Please clarify my doubts.
1.When i check the statement, they debited 1,636 Rs as interest in OD account and 17 Rs in Loan account as shown below. Please clarify on this.
How can i avoid these interest debits? shall i transfer some amount to avoid interest?
Description SBI SURAKSHIT HL MAXGN AUG 12
Name XXXXXXX
Book Balance -10,01,636.00
Available Balance 14,98,364.00
Limit 25,00,000.00
Uncleared balance 0.00
Drawing Power 25,00,000.00
Currency INR
Rate of Interest (% p.a.) 9.95%
Lien Amount 0.00
30-Apr-2013 (30-Apr-2013) DEBIT INTEREST 1,636.00
25-Apr-2013 (25-Apr-2013) TO TRANSFER NEFT xxxxxxxxxTRANSFER TO xxxxx 10,00,000.00
Account Number 00000032950153662
Name XXXXXXXXXXX
Description MAXGAIN SURAKSHA
Limit 61,000.00
Drawing Power 11,924.00
Outstanding Amount 12,124.00
Rate of Interest 9.95
Currency INR
C.Y.YTD Interest 17.0
P.Y.YTD Interest 0.0
30-Apr-2013 (30-Apr-2013) PART PERIOD INTER 17.00
26-Apr-2013 (26-Apr-2013) DEBIT TRANSFER
TRANSFER TO 30322777921 SBI LIFE INSURANCE CO 12,107.00
Thanks
Waiting for your replies.