I have borrowed SBI max gain home loan that has been partially disbursed to me. I have parked Rs. 7.5 lakhs and EMI is Rs. 39,198. Book balance -18, 79,397; available balance 16,41,629; limit 35, 21026 and ROI 10.25%. I don’t understand anything from this account. Can anybody please help me on this? Where my surplus amount would be reflected?
Surplus is shown in available balance. Since your loan is disbursed partially, available balance reflects surplus amount plus remaining undisbursed loan amount. Parking funds results in reduction in book value by the same amount. Interest is calculated on book value.