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Retail Assets Products
What is the primary purpose of retail asset products offered by banks?
Retail asset products are credit facilities extended by banks to individual customers to meet personal, housing, vehicle, and consumption needs, forming the lending side of retail banking.
What is the maximum repayment tenure generally allowed for home loans in India?
Up to 30 years depending on borrower age and bank policy.
Which regulatory authority governs retail lending practices of commercial banks in India?
The Reserve Bank of India (RBI) governs retail lending practices through its Master Directions and circulars issued under the Banking Regulation Act, 1949.
What is the minimum CIBIL score generally required by banks for personal loan approval?
Typically 700 or above is considered acceptable for personal loans.
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