Need A Financial Product Forums Loans How my EMI on SBI maxgain loan will be divided

This topic contains 1 reply, has 2 voices, and was last updated by  Shery Chadha 2 years, 8 months ago.

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    Shery Chadha
    Member

    I have borrowed a home loan of Rs. 35, 06,000 through SBI maxgain loan. If I introduce Rs. 4,00,000 in maxgain, then how the division of my EMI of Rs. 36,000 will be made towards interest and principal repayment?

    #46968

    Gurdev Arora
    Member

    In case of Maxgain, EMI is composed of principal, interest and OD account. One, this will increase your OD amount. Since you have repaid principal for Rs. 4,00,000, your interest payment will reduce, but the EMI amount will remain same.

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