Hi all,
I have gone through the detail descriptions of explanatiosn of SBI MAX GAIN account and its terminology like drawing power ,book balance,available balance and will not ask for same again. I think if i’ve understood the terminology rightly,i have further query regarding my max gain account as below:
I want to add surplus amount in Max gain so i get benifits of liquid amount and reduction in intrest. Hence,before adding this i want to thorough with my present working account which is as follow:
| LOAN AMT | 2040000 | ||
| intrest at loan sanctioned (feb-13) | 9.95% | ||
| intrest at loan sanctioned (july-14) | 10.25% | ||
| First emi | Mar-13 | ||
| MY PAID EMI SUMMARY | |||
| Per month EMI | 20300 | ||
| Total month EMI paid | 17month | ||
| Total paid | 345100 | ||
| Intrest | 274496 | ||
| F | Principal | 70604 | |
| AS PER BANK ACCOUNT | |||
| A | BOOK BALANCE | -1986719 | E-B |
| B | AVAILABLE BALANCE | 23979 | SURPLUS AMOUNT AVAILABLE |
| C | LIMIT | 2010698 | C = E |
| D | UNCLEAR BALANCE | 0 | |
| E | DRAWING POWER | 2010698 | OUTSTANDING LOAN AMOUNT |
| As per my calculation | |||
| F | Total Loan | 2040000 | |
| G | Principal paid | 70604 | |
| H | Drawing power | 1969396 | |
| E-H | Difference | 41302 | |
QUERY
I dont understand why there is a difference of 41,302?
When i have not put any surplus amount,why available balance shows :23979?
I have max gain suraskha account also. Is the calculation of that account is link with OD account anyway?
MAX gain surakshs a/c show as follows:
| MAX GAIN SURAKSHA | ||
| J | LIMIT | 49515 |
| K | DRAWING POWER | 14518 |
| L | OUTSTANDING AMOUNT | 21836 |
| M | C.T.YTD | 732 |
| N | P.Y.YTD | 1171 |
I dont understnad the terminology K to N in above for Suraksha account?
Thanks
Kinjal Dave