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IMPORTANT RETAIL ASSET PRODUCTS
What is a Home Loan in the context of retail banking?
A Home Loan is a secured credit facility extended by banks to individuals for purchase, construction, repair, or renovation of residential property, with the property itself serving as collateral.
What is the maximum repayment period allowed for education loans under IBA Model Loan Scheme?
15 years after the moratorium period ends.
What is the maximum Loan-to-Value (LTV) ratio permitted by RBI for home loans up to Rs. 30 lakh?
RBI permits a maximum LTV ratio of 90% for home loans up to Rs. 30 lakh, meaning the borrower must contribute at least 10% as a down payment.
What is the minimum CIBIL score generally required for approval of a personal loan?
Typically 700 or above is preferred by lenders.
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