Pre Promotion Training 17 May 2015. 1. The maximum exit age of the borrower to be eligible for IB...
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Transcript of Pre Promotion Training 17 May 2015. 1. The maximum exit age of the borrower to be eligible for IB...
Pre Promotion Training17 May 2015
1. The maximum exit age of the borrower to be eligible for IB Home Loan can normally be upto a. 50 years b. 60 years c. 55 years d. 70 years
Ans : b)
Home Loan
2. One of the following is not eligibility criteria for availing NRI Home loan
a. NRIs gainfully employed with a residual contract period / service of at least 3 more years to run.
b. Age at entry level between 18 – 50 years & age at exit - Max60 years
c. A minimum monthly income of US$ 250 or its equivalent is required to avail a maximum amount of Rs.3.50 lakhs loan
d. Age at entry level between 21– 50 years & age at exit - Max60 years
Ans : b
Home Loan
3. Minimum margin for purchase of Plot loan is :
a. 33.33 % on land costb. 33% on land costc. 25% on land costd. 50% on land cost
Ans : c)
Plot Loan
4. Which of the following is not true in respect of Home loan to residents:
a. 60% of future rental income, if any from the house property to be purchased / constructed shall also be included
b. Take home Income should be more than 40% of gross monthly income after deduction of EMII for the proposed loan
c. Minimum take home pay of 40% need not be taken into account, if the take home pay is more than Rs 20000/- after the proposed EMI for the home loan
d. 36 times of Net Monthly Income or 60 tiems of gross Monthly Income (including income of spouse) whichever is lower
Ans d) d. 36 times of Net Monthly Income or 60 tiems of gross Monthly Income (including income of spouse) whichever is lower
Home Loan
5. The Normal Repayment period of IB Home Loan to Individuals is a. Maximum 25 years for purchase/construction of new house/flatb. Maximum 240 months for purchase/construction of new house/flatc. Maximum of 15 years onlyd. Maimum 10 years
. Ans : b
Home Loan
6. The Margin to be brought by the borrower for a loan of > Rs.20 lakhs and upto Rs 75 lakhs, under IB Home Loan to Individuals for new construction is
a. 10% b. 33.33 % c. 25 % d. 20 %
Ans : d)
Home Loan
7. The maximum repayment period normally allowed for a NRI for purchase / construction of a house or flat under NRI Home loan scheme is a. 25 years b. 10 years c. 15 years d. 20 years
c) 15 Years
Home Loan
8. The maximum amount that can be sanctioned for loan for purchase of house site by NRI in a metro area is a. Rs.300 lakhs b. Rs.50 lakhs c. Rs.100 lakhs d. Rs.10 lakhs
A) Rs 300 lakhs
Plot Loan
9. In respect of IB Home Loan to Individuals, Flexi E M I is permissible for repayments of
a. 15 years and aboveb. 5 years and above c. 10 years and above d. for all loans
c) 10 years and above
Home Loan
10 .Minimum loan under home loan plus is a. Rs 1 lakhs b. Rs 10 lakhs c . Rs 5 lakhs d. Rs 25 lakhs
Ans : a) Rs 1 lakhs
Home Loan
11. The quantum of loan that can be given under IB Home Improve is a. 30 times of Net Monthly Income b. maximum of Rs.5 lakhsc. a & b above d. 30 times of net monthly income subject to a maximum of Rs.10 lakhs
Ans : c) a&b above
Home Loan
12. Maximum loan under home loan plus is a. Rs 10 lakhs b. Rs 1 lakhs c. Rs 5 lakhs d. Rs 25 lakhs
Ans : a) Rs 10 lakhs
Home Loan +
13 .Eligibility criteria for home loan plus is a. Satisfactory repayment of 48 EMIsb. Satisfactory repayment of 36 EMIsc. Satisfactory repayment of 60 EMIsd. Satisfactory repayment of 72 EMIs
Ans: b) Satisfactory repayment of 36 EMIs
Home Loan +
14. Loan to value (LTV) for IB Home loan upto 20 lakhs is a.80%b.90% c.10%d.20%
Ans : b) 90%
Home Loan
15. Margin for Home loan above Rs 75 laksh a.40%b.50%c.33%d.25%
Ans : d) 25%
Home Loan
16. Pre- release audit limit for Home Loan a. 25 lakhs & aboveb. 10 lakhs & above c. 100 lakhs & above d. 50 lakhs & above
Ans : d) 50 Lakhs
Home Loan
17. Minimum monthly income for NRI home loan of above Rs.5 lakhs (Equivalent to US Dollar)
a.250 b.500 c.900 d.1000
Ans : b) USD 500
Home Loan
18. Which of the following is not true in respect of home loan repayment period:- a)Maximum repayment period is 20 years for HL residedent (Including holiday period)
b)For take over accounts, the repayment period can be extended beyond the period sanctioned by the original lender subject to a maximum of 20 years including the period already run in the existing institution
c)Chief Managers and above may extend repayment period upto 25 years (including holidayperiod of 18 months, if applicable) on selective basis for purchase / construction of new house /flat
d)Maximum repayment period is 20 years for HL residednt (Excluding holiday period).
e)Ans : d)
Home Loan
19. Margin for repair or renovation under Home loan above Rs.20 lakhs a.10% b.20% c.30% d.40%
Ans : 30%
Home Loan
20. Which of the following is true in respect of home loan borrower: a.NRIs can opt for Fixed Rate of interest onlyb.Non Residents can opt for either Fixed or Floating rate of interestc.Resident can opt for Floating rate onlyd.Non residents can opt for floating rate of interest only
Ans : d) Non residents can opt for floating rate of interest only
Home Loan
21. Conversion of fixed rate to variable rate can be allowed under Home loan after____years from sanction
a.3years b.5years c.7years d. No limit
Ans : a) 3 years
Home Loan
22. What is the fee for switching over from fixed rate to floating rate of interest :-
a) If switch over after 3 years no feeb) If switch over after 5 years no feec) If switch over after 3 year 1% of balance o/sd) both a & b above
Ans : d) both a&b
Home Loan
23. Max repayment period for NRI Home loan is a.20years b.15years excluding holiday c.15years including holiday d.10 years
Ans : c) 15 years including holiday period
Home Loan
24. Margin for plot loan (Resident) is a. 35% of land cost b. 33% of land cost c. 15% of land cost d. 25% of land cost
Ans : 25% of land cost
Home Loan
25. Margin for Home Improve loan is
a.10% of cost of articles b.15% of cost of articles c.20% of cost of articles d.25% of cost of article
Ans : b)15% of cost of articles
Home Loan
26. Margin for Home Improve loan is
a.10% of cost of articles b.15% of cost of articles c.20% of cost of articles d.25% of cost of article
Ans : b)15% of cost of articles
Home Loan
27. Interest rate concession of 0.50% from applicable card rate is not available under IB combo loan package in respect of the following loan
a) IB Vehicle LoanB) IB Bhavishya PrakashC) IB Pension LoanD) IB Home loan Improve
Ans :d) IB Home loan Improve
Home Loan
28. Concession in applicable processing fee of 0.50% is not available under IB combo loan package in respect of the following loan
a) IB Vehicle LoanB) Salary LoanC) IB Home loan Improved) None of the above
Ans :d) none of the above
Home Loan
29. Max repayment period for IB Home loan plus is
a. 5 yearsb.10 years c.15 years d.20 years
Ans : b) 10 years
Home Loan
30. What is not true about IB Vehicle Loan
a. Loan can be sanctioned to Pensionersb. Loan can be sanctioned NRI c. Loan can be sanctioned to our staffd. Loan cannot be sanctioned employees of other bank
Ans : b) 15%
IB Vehicle Loan
31. The minimum margin prescribed under IB Vehicle Loan for purchase of new vehicle Is
a. 10% b. 15% c. 20% d. 25%
Ans : b) 15%
IB Vehicle Loan
32. Maximum loan that can be given under IBVL for 2 wheeler subject to per borrower ceiling and credit power is
a.Rs.75000/- b.Rs.50000/- c.Rs.10 lakhs d.Rs.1 lakhs
Ans : c) Rs 10 lakhs
IB Vehicle Loan
33. Maximum loan that can be given under IBVL for 4 wheeler subject to per borrower ceiling and credit power is
a.Rs.10 lakhs b.Rs.15 lakhs c.Rs.100 lakhs d.Rs.200 lakhs
Ans : d) Rs 200 lakhs
IB Vehicle Loan
34. Minimum gross monthly income for 4 wheeler in India is
a.Rs.20000/- b.Rs.10000/- c. Rs.40000/- d. No limit
Ans : a) 20000
IB Vehicle Loan
35. Minimum monthly income for purchase of 4 wheeler (for use in India by family) to NRI is equivalent of
a.Rs.20000/- b.Rs.40000/- c. Rs.50000/- d. Rs 15000
Ans : Rs 40000/-
IB Vehicle Loan
36. Margin for used vehicle 4 wheeler is
a.15% b.20% c.40% d.25%
Ans : c) 40%
IB Vehicle Loan
37. Maximum repayment for non-salaried borrower for IBVL is a. 84 months b. 60 months c.36 months d. No limit
Ans : c) 60 months
IB Vehicle Loan
38. The maximum amount of loan that can be given for a bonafide purpose under Ind Mortgage is
a. Rs.0.5 crore b. Rs.2 crores c. Rs.5 crores d. Rs 1 Crore
Ans : Rs 2.00 crore
Ind Mortgage
39. One of the following is not the eligibility criteria under salaried class for availing the loan under Ind Mortgage
a. Permanent Employees of Central / State Govt./Quasi Government Bodies/Public Limited companies/ Reputed Private Limited companies with clear record of paying timely salaries
b. Completed minimum 3 years of service
c. Should have regular minimum monthly income of Rs.25, 000/- & take home pay should be more than 40% of gross income after deduction of EMI for the proposed loan
d. Incase of Self employed / Professionals / Businessmen, * based on their average income earned in the last 3 years * Minimum net annual income has to be Rs.1,50,000/- after deduction of proposed EMI.
Ans : c. Should have regular minimum monthly income of Rs.25, 000/- & take home pay should be more than 40% of gross income after deduction of EMI for the proposed loan
Ind Mortgage
40. What is the Maximum repayment period under Ind Mortage
84 months excluding holiday period
60 months including holiday period
84 months including holiday period
84months without holiday period
Ans : d) 84months without holiday period
Ind Mortgage
41. What is not true in respect of Rent Encash
Quantum of loan is Upto 84 months rent or rental value for the unexpired certain period of lease (Rent receivables) whichever is less
Minimum Rs. 1 lakh. Maximum: Rs.200 lakhs
Margin is 40% on Net Rent Receivables (Rent Receivables Net of Advance already received from the tenant + TDS + Property Tax + any other statutory liability) with a maximum of 60% of Market Value of Property
Maximum repayment period is 84 months with holiday period of 6 months
Ans : d) Maximum repayment period is 84 months with holiday period of 6 months
Rent Encash
42. What is not true about Indi reverse Mortgage
a)Senior Citizens above 60 years, including retired staff of our Bank
b)Married couples will be eligible as joint borrowers for financial assistance provided one of them is above 60 years of age
c)Property is self acquired residential property and self-occupied
d)The residual life of the property should be more than 10 years
Ans : The residual life of the property should be more than 10 years (20 Years)
Ind Reverse Mortgage
43. What is margin on Reverse Mortage
a)61% on the realizable value of property
b)31% on the realizable value of property
c)33% on the realizable value of property
d)25% on the realizable value of property
Ans : a) 61% on the realizable value of property
Ind Reverse Mortgage
44. What is not true about Ind Reverse Mortgage
Realizable value of the property is calculated at 10% less than the Market Value assessed by Bank’s Panel Engineer.
Maximum loan amount: Rs.40 lakh
Lump sum up to 20% of the eligible loan amount
Maximum eligible lumpsum is restricted to Rs.5 lakhs
Ans : d) Maximum eligible lumpsum is restricted to Rs.5 lakhs(Rs 15 lakh)
Ind Reverse Mortgage
46. What is the maximum pension loan for the pensioners upto the age 70 years
a) Rs 1 lakhs or 10 times of pension whichever is lowerb) Rs 3.00 lakhs or 10 times of pension whichever is
lowerc) Rs 0.5 lakh or 10 times of pension whichever is lowerd) Rs 1.5 lakh or 10 times of pension whichever is lower
Ans : d) Rs 3.00 lakhs or 10 times of pension whichever is lower
Pension Loan
46. What is the maximum pension loan for the pensioners above the age 70 years & upto 80 years
a) Rs 1 lakhs or 10 times of pension whichever is lowerb) Rs 3.00 lakhs or 10 times of pension whichever is lowerc) Rs 0.5 lakh or 10 times of pension whichever is lowerd) Rs 1.5 lakh or 10 times of pension whichever is lower
Ans : d) Rs 1.50 lakhs or 10 times of pension whichever is lower
Pension Loan
46. What is the maximum pension loan to family pensionersa) Rs 1 lakhs or 10 times of pension whichever is lowerb) Rs 3.00 lakhs or 10 times of pension whichever is lowerc) Rs 0.5 lakh or 10 times of pension whichever is lowerd) Rs 1.5 lakh or 10 times of pension whichever is lower
Ans : d) Rs 1.00 lakhs or 10 times of pension whichever is lower
Pension Loan
45. Pre-release audit to be done for home loan
a)Rs 50 lakhsb)Rs 10 lakhsc)Rs 25 lakhsd)Rs 100 lakhs
d) Rs 50 lakhs
Pre Release Audit
46. Pre-release audit to be done for structured loan products other than home loan
a) Rs 50 lakhsb) Rs 10 lakhsc) Rs 25 lakhsd) Rs 100 lakhs
d) Rs 25 lakhs
Pre Release Audit
47. Pre-release audit to be done for home loan & Plot loan
a)Rs 50 lakhsb)Rs 10 lakhsc)Rs 25 lakhsd)Rs 100 lakhs
d) Rs 50 lakhs
Pre Release Audit
48.In case of home loan and plot, engineer valuation to be obtained from 2 panel engineers
a) Limit exceeds Rs 50 lakhsb) Property value exceeds Rs 50 lakhsc) Limit exceeds Rs 100 lakhsd) Property Value exceeds Rs 100 lakhs
Valuation
49. In case of SLP other than home loan and plot, engineer valuation to be obtained from 2 panel engineers
a)Limit exceeds Rs 5 Croreb)Property value exceeds Rs 50 lakhsc)Limit exceeds Rs 100 lakhsd)Property Value exceeds Rs 100 lakhs
e)Ans : C) Property Value exceeds Rs 100 lakhs
Valuation
50. Legal audit to be done for limits secured by mortgage of property
a) 50 lakhsb) 100 lakhsc) 10 lakhsd) 25 lakhs
e) Rs 100 lakhs
Legal Audit
51. Which of the following is true
CIBIL report to be verified, if the home loan amount < Rs 10 lakhsESPERIAN report to be verified, if the home loan amount > 10 lakhsCIBIL report is to be verified, if the home loan amount > Rs 10 lakhsBoth b & c
Ans : d) both b&c
Credit Reports