SBI MaxGain Home Loan Principal Component Deduction

POSTED BY nitinjain5585 ON September 2, 2014 9:13 am NO COMMENTS

Hi Ashal,

Need a clarity on the deduction of the Principal Component (occurs marginally at the end of each month) over and above EMI deduction.

Its been over 3 months I have taken INR 19,60,000 Home Loan SBI MaxGain, at the end of first month there was a deduction of some INR 7,000 which got adjusted towards my total outstanding but never got reflected in the deductions / debit. Similar case happened at the end of 3rd month for the amount INR 1200 which is again got adjusted in the total outstanding but not being reflected in the debit section.

From the overall calculation perspective, the equation is neutral but wanted to understand the equation behind these set of transactions which never get recorded in the books but suitable adjustments were made to the total outstanding amount.

Thanks n Regards

Nitin Jain

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