Bank Loan MCQs - Home Loan

In Union Home Scheme fixed rate of interest applied only for?

• 1 Year

• 10 Years

• 5 Years

• 30 Years

• Any period as per the customer request

Home Loan MCQs: Maximum Moratorium for repair and renovation is?

• 12 months

• 24 Months

• 36 Months

• 30 months

• 48 Months

Home Loan MCQs: What is the subsistence % for loan amount above Rs.3 lakh and up to Rs. 12 lakh?

• 50%

• 25%

• 35%

• 40%

• 25% or Rs. 2.00 Lakh whichever is lower

Home Loan MCQs: Which is not correct regarding Takeover of Union Home from other Banks/FIs?

• Age of home loan with existing Bank/FIs should be minimum 12 months

• The account with other Bank/FI must be regular

• Loan amount not to be more than outstanding with other Bank

• Statement of loan account for last 12 months is required

• There is no specific requirement for take-over of loan

Home Loan MCQs: The area occupied by the constructed residential structure not to be less than _____ of the total area of plot in case of composite loan.

• 40%

• 30%

• 25%

• 50%

• No limit

Home Loan MCQs: What is maximum size of plot is to be considered for finance in case of composite Housing Loan if the same is purchased from Private Entities?

• 5000 Sq. Ft

• 7500 Sq Ft

• 4000 Sq Ft

• 3000 Sq Ft

• No limit

Home Loan MCQs: Which of the following is correct?

• All the owners of the property are needed to be join as guarantors

• At least one guarantee is required in case of union home

• In case of NRI, guarantee of One/two local resident Indian, having equivalent means of loan amount is required

• Spouse guarantee is mandatory in case of married

• None of the above

Home Loan MCQs: What is the margin of purchase of plot from Private entity if loan amount is more than Rs.200 lakh?

• 35%

• 50%

• 25%

• 40%

• 30%

Home Loan MCQs: Maximum repayment tenure for repair/renovation is:

• 10 years

• 12 years

• 15 years

• 30 years

• None of the above

Home Loan MCQs: Maximum moratorium period (inclusive composite housing loan) under Housing Loan is permitted up to:

• 18 months

• 24 months

• 36 months

• 48 months

• 30 months