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POSTED BY ON March 10, 2013 8:22 pm COMMENTS (6)
Hi,
Can anyone please clear what this book balance (and available balance) means and how its affects my deposits and loan interest. Below are some figures I have gathered so far, so that you can use it to clear the concerns. My emi is 18570.00.
| Balance as on 9-Mar-13 | After EMI on 10-Mar-13 | After I deposited 100,000 on 10-Mar-13 | |
| Book Balance | -1381895.00 | -1362325.00 | -1263325.00 |
| Available Balance | 604113.00 | 622683.00 | 722683.00 |
When I check the difference of two book balance it shows -19570.00 & -99000.00 respectively, which I did not understand why. Shouldn’t it have been -18570.00 & -100000.00.
Available balance looks good, but not sure what the use of it.
Thanks,
Inty
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Dear Inty, please feel free to discuss, as & when you need so.
Thanks
Ashal
Thanks for the answer Ashal.
Thanks for the answer Anshal.
Dear Inty, Ok, here it goes.
Book balance is the calculated loan balance after adjusting the surplus amount parked by you towards actual loan iutstanding amount.
Available balance is the amount available to you for withdraw or in simple words, the surplus amount parked by you.
Drawing power is your as on date actual loan balance.
In your above example the 622683 Rs. is the surplus amount which you can withdraw in case of need. By the way, you forget to mention the balance (both bok as well as available) in your account after parking 1L Rs. surplus. 🙂
thanks
Ashal
Not sure, if I get it correctly because its long chain and I think I am lost somewhere in the middle and left it without reading further.
Dear Inty, the info you are asking for is already discussed here –
http://localhost/jagoforum2/how-to-maximize-the-gains-in-sbi-maxgain-homeloan-account/2635/#comment-24441
Had you checked it? If not, please check & ask there if you are still in doubt.
thanks
Ashal