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Banking FAQs & HowTo Guide
Ask and discuss your queries related to different loans and advances like Auto Loans,Housing Loans, SME Loans,Personal Loans,Overdraft,CC limits etc. Share and discuss on various topics related to Advances and Loans.
Floating Rate of Interest -A floating interest rate is a variable interest rate which can change over the duration of the loan / credit facility. The applicable interest rate on the loan moves up and down with the market rates or along an index.
Installment to Income Ratio is used to calculate the loan eligibility of the customer. This IIR denotes the portion of the customer’s monthly installment on the Home Loan or any other loan taken. As a rule of thumb, the banks use 33.33 % to 40 % ratio. For Example: IIR is 40%, Gross Income is Rs. 60,000/- […]
Calculate Loan to Value ratio (LTV). LCR stands for the Loan to Cost ratio. LTV ratio used by banks to calculate the loan amount that a person is eligible for on the total cost of the property. There is a upper limit on the maximum loan amount that a person is eligible for for the […]
Fixed Obligation to Income Ratio formula is an important parameter in Loan calculation while maintaining Rating Chart. FOIR ratio includes all the fixed obligations that the customer is supposed to pay regularly on a monthly basis. The Fixed Obligations however, do not include statutory deductions from the salary like Provident Fund, Professional Tax and deductions […]
Vocational / skill development study courses, off-campus courses and on-site/partnership programmes are not eligible for loan under the IBA scheme.
The objective of EDP is to provide orientation and awareness pertaining to various managerial and operational functions like finance, production, marketing, enterprise management, banking formalities, bookkeeping, etc. The duration for EDP under REGP was only 3 days, whereas, under PMRY it was 10 days. During various meetings, discussions and recommendations of Department Related Parliamentary Standing […]
Eligibility Conditions of PMEGP Beneficiaries are : (i) Any individual, above 18 years of age (ii) There will be no income ceiling for assistance for setting up projects under PMEGP. (iii) For setting up of project costing above Rs.10 lakh in the manufacturing sector and above Rs. 5 lakh in the business /service sector, the […]
1. The Bank will sanction 90% of the project cost in case of General Category of beneficiary/institution and 95% in case of special category of the beneficiary/institution, and disburse full amount suitably for setting up of the project. 2 Bank will finance Capital Expenditure in the form of Term Loan and Working Capital in the […]
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