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1. A guarantor is not liable for the loan amount in the event of
default by the borrower.
True
False
2. If you already have a house, banks do not sanction housing
loans.
True
False
3.Banks give housing loan only for houses which are ready for
possession.
True
False
4.Banks give housing loans only for joint account holders.
True
False
5. For getting a loan for ready-made house/apartment/flat, banks
insist on valuation report from their approved valuers.
True
False
6. Only salaried persons can get housing loans.
True
False
7. Generally, banks insist that the home/house purchased with the
bank loan or financed by the bank is mortgaged to the bank as security for the
loan.
True
False
8. Banks insist on the insurance of the house purchased through
housing loan.
True
False
9. Some tax benefits are available for payment of interest and
principal for housing loans
True
False
10. Longer the period of repayment for housing loan, larger will
be the EMI.
True
False
11. Credit checks allow prospective loan providing bank to see
the borrower's entire credit record.
True
False
12. Banks do not sanction loans for overseas education
True
False
13. Repayment of Education loan generally commences after the
completion of education.
True
False
14. Banks give loans only for the purchase of new cars.
True
False
15. Borrower does not have to contribute any margin in a loan for
purchase of car.
True
False
16. Repayment of car loan commence one year after the purchase of
car through loan.
True
False
17. Banks do not permit prepayment of housing/car loans.
True
False
18.Banks generally do not recover processing fees for car loans.
True
False
19. Banks give overdrafts and loans to everyone who opens an
account.
True
False
20. Indian Nationals who have secured admission to professional /
technical courses through Entrance test / selection process in India / abroad
can avail of educational loan.
True
False
21. Second educational loan is never sanctioned by the banks.
True
False
22. Travel expenses are not included while working out
educational loan amount.
