Need A Financial Product Forums Loans Difficulty in understanding SBI max gain home loan account statement

This topic contains 1 reply, has 2 voices, and was last updated by  Sarla Jadhav 3 years, 3 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
  • #48006

    Sarla Jadhav

    For the first time, I have borrowed home loan from SBI maxgain. I am encountering difficulty in understanding loan statement. I have compared my last 2 statements, drawing power has declined and I am not getting when the interest is calculated. What happens when I deposit funds in OD account?


    This being an overdraft account, interest on outstanding amount is charged on last day of month. The amount by which the drawing power has declined specifies the repaid amount. Amount deposited in OD account reduces your interest outgo to the bank and the excess interest is credited to your account.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.

About Us

Simplypaisa, a web initiative by Elite Wealth Advisors Ltd, has the primary objective to help readers make smart financing decisions. What is smart finance? How to make smart financing decisions to procure assets or to meet one’s personal needs? Information is critical to make smart financing decisions: be it to purchase your dream house, a car, to start a business or to enable an entrepreneur to meet his/her working capital needs.Read More...


Elite Wealth Advisors Ltd.
S-8, DDA Shopping Complex,
Near Jeevan Anmol Hospital,
Mayur Vihar Phase-1, Delhi-110091.
Phone No: 011-42445800
Email :

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.