Credit Policy and Loan to Value Ratio
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Questions and Answers

What is the minimum property area norm that is required to meet the eligibility criteria?

  • Up to 225 Sq feet (correct)
  • Up to 300 Sq feet
  • Up to 200 Sq feet
  • Up to 250 Sq feet

    • What is required when there are more than 3 tenants in a property?

  • NOC from all tenants (correct)
  • NOC from one tenant
  • NOC from the property owner
  • No NOC is required

    • What is the minimum CIBIL score required for certain loan cases?

  • > 750
  • > 675 (correct)
  • > 650
  • > 700

    • What is the condition for a property with 100% tenant occupancy?

    <p>One tenant per floor with NOC</p> Signup and view all the answers

    Why is joint approval required for certain properties?

    <p>If the property is located in a negative area</p> Signup and view all the answers

    What is the condition for a plot loan if the land area is more than 5000 sq.ft.?

    <p>Land conversion should be there</p> Signup and view all the answers

    What is the requirement for a second property that is meant for self-occupation?

    <p>The customer needs to provide a legal document stating that the property is not in their name</p> Signup and view all the answers

    Why is verification of tenants necessary?

    <p>To ensure the tenant's verification along with FCU</p> Signup and view all the answers

    What is the minimum built-up area for a residence?

    <p>250 Sq Feet</p> Signup and view all the answers

    What is the Loan-to-Value (LTV) ratio for a loan amount up to 30 Lacs for a Bank Salaried profile?

    <p>85%</p> Signup and view all the answers

    What is the deviation level for a property with more than 3 tenants and NOC?

    <p>L2</p> Signup and view all the answers

    What is the maximum percentage of Loan-to-Value (LTV) for a standalone plot loan?

    <p>70%</p> Signup and view all the answers

    What is the minimum residual age of the property required if the property age is more than 30 years?

    <p>Equal to the loan tenure</p> Signup and view all the answers

    What is the requirement for a loan to a second property meant for self-occupation for a SENP profile?

    <p>Regular ITR and High FOIR</p> Signup and view all the answers

    What is the maximum Loan to Value (LTV) ratio allowed for a DA property?

    <p>60%</p> Signup and view all the answers

    What is the purpose of a CERSAI Check in property verification?

    <p>To ensure the property is not already mortgaged</p> Signup and view all the answers

    What is the minimum percentage of the total OCR that must be paid through a cheque or DD for a property value less than 35 Lacs?

    <p>25%</p> Signup and view all the answers

    What is the Loan to Cost ratio (LCR) comprised of?

    <p>Sale deed value + registration charges + Stamp duty + Amenities agreement + Society transfer charges</p> Signup and view all the answers

    Who is responsible for performing a property visit during the verification process?

    <p>BM/ABM</p> Signup and view all the answers

    What is the maximum percentage of OCR allowed in cash for a property value greater than 35 Lacs?

    <p>0%</p> Signup and view all the answers

    What is the maximum LTV ratio allowed for a LAP property?

    <p>60%</p> Signup and view all the answers

    What is the minimum percentage of OCR required for a property with a deed less than 1 year old?

    <p>50%</p> Signup and view all the answers

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