regading home loan
Ref : GIM/ADV/33/06/611 dtd 20-1-2010
Enclose please find herewith the total principal and interest paid yearwise, It is not understood whatever reduction of principal paid is not considered then where does the
paid principal goes, while taking loan two parts principal and interest are shown and no formula suggests only interest is to be debited. Hence it is requested once again to relook the same and principal should reduce as (Paid principal + Top up or excess paid) and interest may be debited accordingly. This may may be treated as uirgent. Again there is difference in existing homeloan and new home loans which may be rectified.
No paid principal is considrered as such the clear balance outstanding remains
higher against actual outstanding. Hence forth to relook the account necessites the bifurcated Pricipal and Interest and accordingly the principal should reduce more instead of Topup or excess only.