BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs. 10, 000
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Rs. 50000
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Rs. 1, 00, 000
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Rs. 2 Lakh
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Detailed explanation-1: -Pre-approved loan up to Rs. 50, 000.
Detailed explanation-2: -With Bank of Baroda, you can get finance of up to 90% for Home Loans up to Rs. 30 lakh.
Detailed explanation-3: -However, most banks and NBFCs limit a personal loan at Rs. 35 lakh to an individual. Lenders evaluate the monthly income of loan applicants and the potential growth in it before approving a loan. In most cases, individuals are eligible for a personal loan amount of up to 30 times their monthly income.
Detailed explanation-4: -If you have a high credit score, a good credit history, excellent repayment record, stable income, and sound savings in your bank account, then you are eligible for a pre-approved loan.
Detailed explanation-5: -What is a Micro Personal Loan? Small business owners, self employed persons, micro enterprises and others who have low capital requirements or lesser access to lending institutions can avail a smaller loan for their requirements. This sort of a small, short term personal loan is termed a micro personal loan.