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Thanks for liking and comment 🙏🏻🙏🏻. Regarding your questions: *Interest Deduction:* 1. The interest is calculated on the daily outstanding balance in the loan account. 2. The interest amount is debited from your SBI Maxgain account at the end of each month. *Principal Deduction:* 1. The EMI (Equated Monthly Installment) that you pay consists of both principal and interest components. 2. When you deposit money into your SBI Maxgain account, this amount is available for withdrawal but also considered as a part of the available balance to offset the outstanding principal. 3. The principal reduction happens gradually with each EMI payment, with a higher portion of the EMI going towards the principal in the later years of the loan tenure. 4. Any surplus amount you deposit in the Maxgain account reduces the daily outstanding balance, thereby reducing the interest portion of your EMI. However, it does not directly reduce the principal until you decide to make an actual principal repayment (for principal repayment you need to go to the bank and ask them for it, it's cumbersome and does not help in any way). Please check with bank once on this and let me know if any corrections. Thanks.

Glad you liked it, also thanks for leaving your comments 💐💐

Wow thanks, you are absolutely right. The text in the flow needs correction, will correct it 🙏🏻🙏🏻

thanks for commenting, glad you liked it 💐💐

Yes Adharsh, if you have surplus money put in OD account and then you will save on the interest levied on your home loan.

oh, it's been more than an year, I don't think can find it easily now.

good to know this 👍🏼👍🏼

Just added it in comments.

thanks so much for liking and commenting 🌻🌻

Great question, please note that the Merchant has no direct connection with Issuer (the POS can't connect to Issuer directly; imagine if it has to do that then the POS has to have connections with all banks at in place. Instead a router, acquirer here helps). The acquirer bank is the financial institution that has a relationship with the merchant. Acquirer's primary role is to facilitate transactions on behalf of the merchant. When a customer makes a purchase, the merchant forwards the transaction details to the acquirer bank. The acquirer bank then communicates with the payment networks and the issuer to obtain authorization for the transaction, and it ultimately settles the transaction by transferring funds from the cardholder's account to the merchant's account.

thanks so much for liking and commenting 🌻🌻

that's amazing to know, all the very best wishes for your startup 👍🏼👍🏼

Glad you think so and thanks for liking and commenting 👍🏼👍🏼

thanks so much for commenting and for the wamth in comment 🙂

Glad you liked it and thanks so much for commenting 👍🏼👍🏼.

Glad it was helpful ✅ !

Glad it worked 👍🏼👍🏼, I shall put some instructions on the description of this video as well.

nothing is being clipped

myCoupons:2506 Uncaught TypeError: Cannot read properties of null (reading 'classList') at doSlide (<anonymous>:153:59) at nrWrapper (myCoupons:2504:39)

Glad you liked, thanks so much for commenting 💐💐

thanks for liking and commenting 🙏🏻🙏🏻

thanks so much for liking and commenting 🙏🏻🙏🏻and yes Rupay is the best primarily for a) Low Transaction Costs b) Digital India / Make in India 🇮🇳🇮🇳...

Thanks for your comments 🙏🏻. Very glad that, this was helpful.

Please note that the Principal is as per Amortization schedule (interest varies as per your OD account's book balance). Principal (from EMI) reduces the DRAWING POWER (note, DP = Outstanding Principal amount). 1. Interest is charged at the end of the month, not on the day of EMI deduction (interest is calculated based on your Book Balance). 2. Principal is applied on EMI date (reduces your Drawing Power and Limit), surplus money (i.e. EMI minus Principal) goes to Available Balance. 3. Last day of the month the interest is deducted from Available Balance (it is calculated based on your Book Balance). Please check this (on your monthly statements, take the screenshot before the date of EMI and after EMI deduction); and confirm if the above is ok.

@@NurtureLearning Thank you very much! Keep doing amazing work spreading financial literacy

@@sarathganesh thanks for your comments and glad it helped.

yes that's correct; but remember CONTEXT.

thanks so much for liking and commenting 🙏🏻🙏🏻

Thanks, glad you liked it 👍🏼👍🏼

Thanks so much 💐💐. Please suggest your recommendation, what IDE would be good for Kids. My thought for Jupiter was that they can start on web with a zero installation (utilizing Google CoLab); they need not understand all the complexities of Jupiter.

thanks for your comments, and glad you liked it 💐💐

Glad you like it 💐💐

Hi Rajshree, yes it means that the real money transfer happens in the reconciliation process.

Glad you liked, thanks for the comment…

You're most welcome, thanks for commenting…

Thanks for your comment; after your comment I searched/viewed the backstory. Makes perfect sense 👍👍

If he gave up in that county, Warren G won't get his tape. Thanking yourself is a form of motivating yourself bro😊

Infact Warren G should thank Snoop for writing "This DJ" for him and never took any credit for it. This is Love and Selflessness❤❤❤

thanks for commenting, glad you liked it.

thanks so much 💐💐

Hi Vithal, thanks for the comment, will see if I get time to do this.

glad you liked it, thanks for the comment.

glad you liked it, thanks for the comment.

sure, please share which aspect of reconciliation.

thanks for your comment.

thanks for your comment, and glad you liked the content.

Thanks Prashant, glad you found it helpful.

thanks so much for liking and commenting...