First of all thanks for sharing details on home loan(“http://www.basunivesh.com/2015/04/07/all-about-sbi-maxgain-home-loan-scheme-features-and-benefits/”😉
I have few questions related to this.
I transferred my home loan from HDFC to SBI. I got 38, 60,000 loan from bank and as per bank executive my EMI would be 36,000.
However, I increased my EMI from 36000 to 42000 from start. So every month I am paying EMI of 42000(6000 more).
Therefore, my questions are
1. Extra 6000 amount would be consider as Principal amount Or It will goes into Available Balance?
2. Suppose I parked 8,60,000 in max gain account. Now my Book balance is 30,00,000. So interest will be calculated on 30 lacs. Here my emi is constant so in this case my question is as my interest component is reduce the extra amount will be creditt under Avaialble balance right ?