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 3 years, 3 months ago.

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    Mahesh Damji

    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


    Mukul Mishra

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

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