Question

Difference between drawing power and outstanding amount

Answer 1

Explanation:

Drawing power is the amount of loan that is to be paid back by you according to the originaly approved EMI schedule at the time of loan sanction . Outstanding amount is the actual remaing amount of Loan that you have to pay to the bank at any point of time

Answer 2

Difference between drawing power and outstanding amount

Explanation:

drawing power

• Drawing power is the amount of loan to be paid back by you at the date of the loan approval in compliance with the initially accepted EMI plan.
• The drawing power is the amount of the loan to be charged by you in compliance with the initially accepted EMI schedule at the time of the loan sanction

outstanding amount

• The unpaid balance of the loan you have to return to the creditor at that point is pending.
• Outstanding balance is the total outstanding balance of loan you are supposed to return to the bank at any point.
• Outstanding debt balance is higher than DP if you don't pay daily, so it may be less than DP if you settle the EMI payment early for greater than you're expected to pay.