Need A Financial Product Forums Loans What I should understand from debt interest in loan account

This topic contains 1 reply, has 2 voices, and was last updated by  Mahesh Damji 2 years, 11 months ago.

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  • #48222

    Mahesh Damji
    Member

    I have taken a flat on loan from ICICI Bank. I have received first disbursement (partial) towards my loan from bank. The account statement shows a debit interest of Rs. 2,020. What does this debit interest stand for and why this value has taken place in my account statement? Please reply

    #48223

    Mukul Mishra
    Member

    Debit entries reflect the interest on the amount that has been disbursed to you.

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