Bank account query

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accountant
21 Points Posted on 19 January 2012

I am having Housing Loaan account with bank having 168 EMI repayment Schedule I have paid 138 EMIS 30 are pending

 

as per EMI repayment  schedule of Bank outstanding should be 250000 but the statement given by bank shows otstanding

 

of 400000 why thre is diffrence ?

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On 19 January 2012 at 11:28 Report
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Posted on 19 January 2012
May be because of increase in rate of interest. If interest rates increased, and your EMI remains same, then more part of the Instalment amount will be going to interest, and not to principal amount. so outstanding loan amount not reduced much.., or may be you need to check loan summary, whether EMI been credited to loan a/c regularly..
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On 19 January 2012 at 12:45

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