Bank pre emi

Sohil Deshmukh (Querist) 09 March 2013 This query is : Resolved
Hi
I need some guidance on Pre-EMI interest calculation and disbursement.
Does the disbursement date means the date on which the bank issued the cheque to the builder or on the date the amount got debited from bank.
In my case the bank issued the cheque on 12/02/2013 and the registration happened on 28/02/2013. The original papers were submitted to the bank on 01.March 2013 and on the same date the cheque for the builder got debited from bank's account.
The regular EMI date is 5th of every month.
Kindly guide whether the Pre EMI interest will be calculated from the cheque issued date (12/02/2013) or from the date on which the money was remitted from bank.

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V R SHROFF (Expert) 09 March 2013
WHAT BANK HAVE TO SAY??

Raj Kumar Makkad (Expert) 09 March 2013
Generally banks do charge from the date of issuance of the cheque, however, logically it should start from the date, the amount was debited. Make enquiry from the bank only.