Housing loan- para

pooja dedhia (Querist) 26 May 2012 This query is : Resolved
The EMI payments commences only after the entire sanctioned loan amount is drawn.

what is it mean?

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R.K Nanda

(Expert) 27 May 2012
Academic query.

Suhail A.Siddiqui (Expert) 27 May 2012
clarify with your Bank

Shonee Kapoor (Expert) 29 May 2012
Academic Query.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

malipeddi jaggarao (Expert) 04 June 2012
That means EMI will commence only after full disbursement of sanctioned amount. In the meanwhile whatever interest is charged in the loan account, it is to be paid separately without linking with the EMI originally proposed. The EMI is generally fixed on the total loan amount and unless the entire amount is disbursed the EMI will not reflect the correct position.

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