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Your results are here!! for" SCHEME FOR FINANCING LOAN FOR FARM HOUSE CONSTRUCTION "
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Question 1 of 10
1. Question
What is one of the main purposes of the Farm House Construction Loan?
Correct
The loan can finance construction of farm structures such as livestock sheds, drying yards, grading/sorting yards, processing sheds, storage units and dwelling structures.
Incorrect
The loan can finance construction of farm structures such as livestock sheds, drying yards, grading/sorting yards, processing sheds, storage units and dwelling structures.
Unattempted
The loan can finance construction of farm structures such as livestock sheds, drying yards, grading/sorting yards, processing sheds, storage units and dwelling structures.
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Question 2 of 10
2. Question
Can the scheme finance the repair of an existing farmhouse structure?
Correct
The scheme specifically provides finance for repair of an existing farmhouse structure.
Incorrect
The scheme specifically provides finance for repair of an existing farmhouse structure.
Unattempted
The scheme specifically provides finance for repair of an existing farmhouse structure.
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Question 3 of 10
3. Question
What track record is required for an existing borrower to be eligible for the Farm House Loan?
Correct
An existing borrower must be an owner cultivator and have a satisfactory track record of 3 years with the bank.
Incorrect
An existing borrower must be an owner cultivator and have a satisfactory track record of 3 years with the bank.
Unattempted
An existing borrower must be an owner cultivator and have a satisfactory track record of 3 years with the bank.
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Question 4 of 10
4. Question
In case of a fresh borrower, what should also be sanctioned along with the Farmhouse Loan?
Correct
For a fresh borrower, KCC should also be sanctioned along with the Farmhouse Loan, and the entire land should be mortgaged in favour of the Bank.
Incorrect
For a fresh borrower, KCC should also be sanctioned along with the Farmhouse Loan, and the entire land should be mortgaged in favour of the Bank.
Unattempted
For a fresh borrower, KCC should also be sanctioned along with the Farmhouse Loan, and the entire land should be mortgaged in favour of the Bank.
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Question 5 of 10
5. Question
What access condition should the proposed plot or land portion satisfy?
Correct
The proposed plot or land portion should have independent approach/access.
Incorrect
The proposed plot or land portion should have independent approach/access.
Unattempted
The proposed plot or land portion should have independent approach/access.
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Question 6 of 10
6. Question
What is the maximum loan amount for construction of a farmhouse under the scheme?
Correct
The maximum ceiling for construction of a farmhouse is Rs. 15.00 lakh, subject to project cost and repayment capacity.
Incorrect
The maximum ceiling for construction of a farmhouse is Rs. 15.00 lakh, subject to project cost and repayment capacity.
Unattempted
The maximum ceiling for construction of a farmhouse is Rs. 15.00 lakh, subject to project cost and repayment capacity.
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Question 7 of 10
7. Question
What is the maximum loan amount for repair of an existing farmhouse structure?
Correct
The loan for repair of an existing farmhouse structure is capped at Rs. 5.00 lakh.
Incorrect
The loan for repair of an existing farmhouse structure is capped at Rs. 5.00 lakh.
Unattempted
The loan for repair of an existing farmhouse structure is capped at Rs. 5.00 lakh.
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Question 8 of 10
8. Question
What is the margin required under the Farm House Construction Loan scheme?
Correct
The prescribed margin is 20% of the estimated cost of construction or repair.
Incorrect
The prescribed margin is 20% of the estimated cost of construction or repair.
Unattempted
The prescribed margin is 20% of the estimated cost of construction or repair.
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Question 9 of 10
9. Question
What is the maximum repayment period for farmhouse construction, subject to the age condition?
Correct
For construction, repayment is maximum 20 years or up to 70 years of age of the borrower, whichever is lower.
Incorrect
For construction, repayment is maximum 20 years or up to 70 years of age of the borrower, whichever is lower.
Unattempted
For construction, repayment is maximum 20 years or up to 70 years of age of the borrower, whichever is lower.
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Question 10 of 10
10. Question
What should be the minimum Net Take Home (NTH) at the time of applying for the loan?
Correct
NTH should be 40% of gross annual income after meeting the proposed loan installment, with a minimum of Rs. 1.50 lakh per annum.
Incorrect
NTH should be 40% of gross annual income after meeting the proposed loan installment, with a minimum of Rs. 1.50 lakh per annum.
Unattempted
NTH should be 40% of gross annual income after meeting the proposed loan installment, with a minimum of Rs. 1.50 lakh per annum.