Mathematics · Banking and Financial Calculations
A customer applies for a housing loan for a property valued at ₹1 crore. Based on RBI guidelines, the maximum Loan-to-Value (LTV) ratio for housing loans above ₹75 lakh is 75%. The applicant's net monthly income is ₹2,00,000, and the bank uses a Fixed Obligation to Income Ratio (FOIR) of 50%. If the applicant already pays an existing car loan EMI of ₹20,000, what are the maximum permissible EMI for the new housing loan and the maximum loan amount?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Max EMI: ₹1,20,000; Max Loan: ₹75 Lakh
- 2Max EMI: ₹80,000; Max Loan: ₹100 Lakh
- 3Max EMI: ₹1,00,000; Max Loan: ₹80 Lakh
- 4Max EMI: ₹80,000; Max Loan: ₹75 Lakh✓
Correct answer
Max EMI: ₹80,000; Max Loan: ₹75 Lakh
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