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a What is PLR / PTLR?
It is minimum lending rate at which credit line is offered to prime borrowers. This rate is also offered to certain loan schemes like the education loan sechme for all borrowes.

 

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When does PLR/PTLR change?

Under guidelines from regulatory authorities & at the appropriate time the Board changes the PTLR. 		a
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Who can become a guarantor to a loan?

A credit worthy person acceptable to the Bank for the repayment of the loan in the event of default by the borrower can become a guarantor. 		a
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Is it necessary that guarantor should be account holder of Cosmos Bank?

No. 		a
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What is margin money?

It is the contribution by the borrower towards the cost of project for which loan is applied for.
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What is a clean loan?

It is a loan where primary or collateral security is not inisted upon from the applicant of loan. 		a
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Is an additional guarantor required for Housing Loan?

Yes, depending on merits of the case.

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Why insurance of house is required in case of housing loan?

It helps in recovery of bank dues, in case of untoward incidence and reduces the liability of the borrower to a certain extent. 		a
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Is a housing loan available for purchase of land?

Only for purchase of land, it cannot be availed. However, purchase of land is allowed along with construction of house within 2 years, which is mandatory. It is a composite loan for land & construction of house.

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Is cost of stamp duty considered in the housing loan?

Yes, maximum upto Rs.5 Lakh 		a
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Deposit Insurance and Credit Guarantee Corporation

http://www.dicgc.org.in/beta02/faqs.htm

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