2016
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1 crore rupees
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2 crore rupees
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3.5 crore rupees
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5.5 crore rupees
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Detailed explanation-1: -They are rejected on criteria like age, income, poor-bank verifications or even proof-documents which do not satisfy the lender’s requirements.
Detailed explanation-2: -Collateral gets affected While this is the last resort, banks can rightfully take possession of the collateral and auction it to recover the loan amount if you fail to repay the loan.
Detailed explanation-3: -2. Credit risk is most simply defined as the potential that a bank borrower or counterparty will fail to meet its obligations in accordance with agreed terms.
Detailed explanation-4: -As per the scheme formulated by National Housing Bank (NHB), the maximum period of the loan period is 15 years. The residual life of the property should be at least 20 years. Where the borrower lives longer than 15 years, periodic payments will not be made by lender. However, the borrower can continue to occupy.