22 Questions
What is the minimum property area norm that is required to meet the eligibility criteria?
Up to 225 Sq feet
What is required when there are more than 3 tenants in a property?
NOC from all tenants
What is the minimum CIBIL score required for certain loan cases?
> 675
What is the condition for a property with 100% tenant occupancy?
One tenant per floor with NOC
Why is joint approval required for certain properties?
If the property is located in a negative area
What is the condition for a plot loan if the land area is more than 5000 sq.ft.?
Land conversion should be there
What is the requirement for a second property that is meant for self-occupation?
The customer needs to provide a legal document stating that the property is not in their name
Why is verification of tenants necessary?
To ensure the tenant's verification along with FCU
What is the minimum built-up area for a residence?
250 Sq Feet
What is the Loan-to-Value (LTV) ratio for a loan amount up to 30 Lacs for a Bank Salaried profile?
85%
What is the deviation level for a property with more than 3 tenants and NOC?
L2
What is the maximum percentage of Loan-to-Value (LTV) for a standalone plot loan?
70%
What is the minimum residual age of the property required if the property age is more than 30 years?
Equal to the loan tenure
What is the requirement for a loan to a second property meant for self-occupation for a SENP profile?
Regular ITR and High FOIR
What is the maximum Loan to Value (LTV) ratio allowed for a DA property?
60%
What is the purpose of a CERSAI Check in property verification?
To ensure the property is not already mortgaged
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?
25%
What is the Loan to Cost ratio (LCR) comprised of?
Sale deed value + registration charges + Stamp duty + Amenities agreement + Society transfer charges
Who is responsible for performing a property visit during the verification process?
BM/ABM
What is the maximum percentage of OCR allowed in cash for a property value greater than 35 Lacs?
0%
What is the maximum LTV ratio allowed for a LAP property?
60%
What is the minimum percentage of OCR required for a property with a deed less than 1 year old?
50%
This quiz covers the credit policy guidelines for loan to value ratio, loan to cost ratio, and loan eligibility. It includes norms for different product profiles and exposure limits set by NHB and RBI.
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