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.
ajay sethi
(Expert) 09 March 2013
it would be from date bank issued cheque . ie 12/2/2013
Sohil Deshmukh
(Querist) 09 March 2013
noted, thanks for your quick reply
ajay sethi
(Expert) 09 March 2013
thanks for your appreciation
R.K Nanda
(Expert) 09 March 2013
no more to add.