BoB BAroda Home Loan advantage/overdraft/Maxgain

[urboss]

I have a home loan from BoB - Baroda Premium Home Loan Advantage, which is basically an overdraft HL like SBI Maxgain, linked to a savings account and the interest is charged only on the reduced principal adjusted after the balance in the linked savings account.

For fellow people who have same HL, how do you track whether the interest charged is correct or not? Is there any excel/google sheet where we manually enter the details and it should give us the principal amount, interest amount, tenure etc etc.
The amortization schedule generated from the netbanking shows the default one at the time of disbursal and not account the prepayments - basically it's static and not dynamic.

 

[yusuf646]

You can try this website

Home Loan EMI Calculator with Prepayments, Taxes & Insurance

Home Loan EMI Calculator - Calculate Home Loan EMI along with Partial Prepayments, Margin, Property Taxes, HLPP, Home Insurance & Monthly Maintenance Charges

emicalculator.net

 

[urboss]

You can try this website

Home Loan EMI Calculator with Prepayments, Taxes & Insurance

Home Loan EMI Calculator - Calculate Home Loan EMI along with Partial Prepayments, Margin, Property Taxes, HLPP, Home Insurance & Monthly Maintenance Charges

emicalculator.net

Thanks. I've tried using these online calculators and google sheets. But the problem is practically, in last 3 years, the ROI changed 4-5 times and these calculators doesn't consider this factor. Or am I missing something? How to handle this situation?

 

[darshanbafna]

I have a home loan from BoB - Baroda Premium Home Loan Advantage, which is basically an overdraft HL like SBI Maxgain, linked to a savings account and the interest is charged only on the reduced principal adjusted after the balance in the linked savings account.

For fellow people who have same HL, how do you track whether the interest charged is correct or not? Is there any excel/google sheet where we manually enter the details and it should give us the principal amount, interest amount, tenure etc etc.
The amortization schedule generated from the netbanking shows the default one at the time of disbursal and not account the prepayments - basically it's static and not dynamic.

You can go to branch and request for detailed statement, it has interest amount calculation for each set of days during the month depending on balance in savings account. They will provide detailed breakup

 

[Baki]

I have a home loan from BoB - Baroda Premium Home Loan Advantage, which is basically an overdraft HL like SBI Maxgain, linked to a savings account and the interest is charged only on the reduced principal adjusted after the balance in the linked savings account.

For fellow people who have same HL, how do you track whether the interest charged is correct or not? Is there any excel/google sheet where we manually enter the details and it should give us the principal amount, interest amount, tenure etc etc.
The amortization schedule generated from the netbanking shows the default one at the time of disbursal and not account the prepayments - basically it's static and not dynamic.

There is detailed Excel sheet available on Bob net banking, i accessed it a year ago. Do some research u will find it.

 

[wiizzard]

You can in theory manually calculate it on Excel. Practically, I wouldn't worry about it, if there is an issue, then it would affect lot of people, so someone will figure that out eventually anyway.
If you are still focused on this, then you can calculate for a given month in a Excel by putting the daily outstanding balance and calculating daily interest

 

[TheCoinCollector]

I think Maxgain charges some 0.30% more than the regular home loan rate. Does BoB also do that for this PHLA?

 

[urboss]

There is detailed Excel sheet available on Bob net banking, i accessed it a year ago. Do some research u will find it.

If you have accessed it, please tell me. I did a lot of research and couldn't find, that's why posted here.
These are the only options I can see on netbanking, and none of them shows what i am looking for.

 

[urboss]

I think Maxgain charges some 0.30% more than the regular home loan rate. Does BoB also do that for this PHLA?

I am not sure, but yes. I initially had normal HL and later converted it to advantage and also negotiated on some discount when the ROI shooted till 9.4% at one time.

 

[Baki]

If you have accessed it, please tell me. I did a lot of research and couldn't find, that's why posted here.
These are the only options I can see on netbanking, and none of them shows what i am looking for.

Check the repayment schedule & Compare it with the payment deducted next month, You will get a clear idea, of the diff. The amount is the interest u saved on the savings balance