BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following aspects are outlined by the loan policy of a bank?
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Rating standards
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Lending procedures
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Financial covenants
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All of the above
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Explanation:
Detailed explanation-1: -Elements of loan structure include loan-to-value (LTV), interest rate, amortization period, and collateral security requirements.
Detailed explanation-2: -The bank will check your repayment capacity before everything else. While applying for a loan, the borrower has to give a letter to the bank, authorising them to run your credit history. Banks will evaluate your repayment history with others and the amount of debt you have currently.
There is 1 question to complete.