WorksheetsBOM-Induction-Homeloan
Total questions: 20
Worksheet time: 10mins
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
Housing Loans sanctioned to staff of the Bank can be classified as...........
PSL
Normal lending
Upto Rs 10 lakhs as PSL
Upto 20 lakhs as PSL
Loans for repairs to damaged dwelling units of individuals up to................. lakhs in non-metro centres is classified as PSL
Rs 6 lakhs
Rs 10 lakhs
Rs 2 lakhs
Rs 5 lakhs
Housing loan is not extended by BOM for one of the following purposes.Identify.
Purchase of Site and thereafter construction
solely for the purchase of a plot
Construction of house on self acquired site
Purchase of Existing house
Under the Housing Loan scheme of the Bank, maximum co-applicants who can join for deciding the quantum of loan repayment capacity is............
5
4
3
6
Any relaxation in minimum continous service of 1 year for availing Housing loan is to be approved by....
Only Head office
Branch Manager in Scale 3
Branch Manager in Scale 4 cadre
Zonal Manager
Acronym FOIR stands for...............
Fixed obligations to Income Ratio
Fixed obligations to installment ratio
Fair obligation to income ratio
Final obligation to installment ratio
Purpose of calculating FOIR is to...............
ensure the availability of free funds to spend on entertaining the family
find out if the borrower needs more funds beyond his eligibility
ensure that the borrower does not default the loan for meeting his basic necessities of life.
calculate the time line when the account will become NPA
As per RBI guidelines, while calculating the LTV, the following items to be excluded. Identify.
Registration, stamp duty and documentation charges
Registration and stamp charges only
Documentation charges only
stamp duty charges only
As per RBI guidelines pre-payment foreclosure charges can be waived when............
entire outstanding balance is repaid in the same Bank
balance outstanding under home loan in One Bank is transferred to another Bank
A part of the O/S balance is prepaid in advance
the entire balance O/S turns to NPA and a 3rd party pre pays the liabilities.
Homeloan applied for a borrower to buy a property in "under-construction" project needs to submit.................
no need to submit any approval other than a declaration
approval from authority sanctioning the project
RERA approval
only approval from local municipality
