BOM-Induction-Homeloan

MAHA super Housing loan scheme  doesn’t cover the following. Identify.

• Loan for Repair and renovation

• Loan for Purchase of Plot and Construction there of

• Loan for Purchase of an old house, 20 years old.

• Loan for Purchase of plot only.

Employment stability for salaried class to be eligible for housing loan is..................

• 2 years of continuous service.

• 1 year of continuous service.

• 3 years of continuous service

• 5 years of continuous service.

Minimum acreage requirement for farmers to be eligible for Housing Loan is

..............

• 4 acres of land

• 2 acres of un irrigated land

• 5 acres of irrigated land

• 10 acres of irrigated land

If a borrower avails a Mahasuper loan at the age of 55, maximum permissible  repayment period  is______

• 240 months

• 180 months

• 120 months

• 60 months

Which of the following is not a salient feature of Housing Loan?

• Low EMI

• Pre-payment penalty is applicable is applicable in all cases

• Repayment allowed upto the age of 75 years of the borrower

• Maximum 3 co-applicants allowed for deciding income criteria

Housing Loan amount to prospective borrowers is calculated on the basis of.....

• Repayment  capacity, Applicant`s income, Sureties, CIBIL Score

• Legal opinion, pre-sanction visit report, project cost, margin

• Loan amount requested,  permissible LTV ratio, Deduction norms

• Banking relationship, CIBIL score, Valuation of property, LTV

LTV for a project cost of Rs 60 lakhs for housing loan under Housing Loan Scheme is ----

• 60%

• 90%

• 70%

• 80%

Which one of the following is not correct, In case of purchase of plot and construction thereof..... 

• LTV is Min. 25% of the registered value of the plot or realizable value of plot whichever is low.

• No Moratorium is allowed for plot loan

• Value of the plot should not be included in the cost of the project.

• Moratorium allowed : Max. 18 months for construction of House from date of first disbursement

Mr Rohit requests for a loan of Rs 8 lakhs for repairs/renovation and extension of his house. Realisable value of house is Rs 36 lakhs, as per valuation report which is 2.50 months old.  Identify the incorrect statement.

• 100% LTV for repairs/renovation. Margin not to be insisted

• Rs 8 lakhs can be sanctioned as it is less than 25% of realizable value.

• Loan cannot be considered as  valuation report is more than 2 months old

• Max repayment of 20 years or on borrower reaching the age of 75 years whichever is earlier

What is the amount of Home loan to Individuals in metro cities that will rank for classification under PSL?

• Rs 50 lakhs

• Rs 40 lakhs

• Rs 35 lakhs

• Rs 20 lakhs