Need A Financial Product Forums Loans Why drawing power on my loan has reduced

This topic contains 0 replies, has 1 voice, and was last updated by  Sneha Nayak 3 years, 1 month ago.

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  • #48298

    Sneha Nayak
    Member

    In 2009, I applied for home loan for Rs. 17 lakhs for 20 years from SBI. The same was disbursed. Since then I am paying EMI of Rs. 17,000 without any default. Today when I checked my drawing power, it has reduced to Rs. 9, 50,000. I want to know the reason for it. Please help

    #48299

    Vijay Sawant
    Member

    It has happened because over these years you must have repaid Rs. 7, 50,000 towards your loan. Drawing power is the amount of outstanding loan that you got to repay. You keep on repaying your loan and the drawing power will continue to decline.

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