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Among the given which of the following is correct about the rate of interest provided by bank in case of home loan?
  • a)
    The majority of banks provide an interest rate that is lower than the "40% of monthly income" (BPLR).
  • b)
    The majority of banks provide an interest rate that is higher than the "Bench Mark Prime Lending Rate" (BPLR).
  • c)
    The majority of banks provide an interest rate that is lower than the "80% of monthly income" (BPLR).
  • d)
    The majority of banks provide an interest rate that is lower than the "Bench Mark Prime Lending Rate" (BPLR).
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Among the given which of the following is correct about the rate of in...
The interest rate for a house loan is lower than the interest rate for other loans. The majority of banks provide an interest rate that is lower than the "Bench Mark Prime Lending Rate" (BPLR) . Additionally, banks provide borrowers the choice between a fixed rate and a fluctuating rate.
Hence, (d) is correct.
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Community Answer
Among the given which of the following is correct about the rate of in...
Explanation:

Interest Rate on Home Loans:
- The majority of banks provide an interest rate that is lower than the "Bench Mark Prime Lending Rate" (BPLR).
- The BPLR is the minimum interest rate at which a bank can lend, and it serves as a reference point for setting the interest rates on various loans, including home loans.
- Banks typically offer home loan interest rates that are lower than the BPLR to attract borrowers and remain competitive in the market.
- Therefore, it is correct to say that the majority of banks provide an interest rate that is lower than the BPLR for home loans.
By offering interest rates lower than the BPLR, banks make home loans more affordable for borrowers and encourage them to take out loans for purchasing a home or property. This practice helps stimulate the real estate market and promotes homeownership among individuals.
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Among the given which of the following is correct about the rate of interest provided by bank in case of home loan?a)The majority of banks provide an interest rate that is lower than the "40% of monthly income" (BPLR).b)The majority of banks provide an interest rate that is higher than the "Bench Mark Prime Lending Rate" (BPLR).c)The majority of banks provide an interest rate that is lower than the "80% of monthly income" (BPLR).d)The majority of banks provide an interest rate that is lower than the "Bench Mark Prime Lending Rate" (BPLR).Correct answer is option 'D'. Can you explain this answer?
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Among the given which of the following is correct about the rate of interest provided by bank in case of home loan?a)The majority of banks provide an interest rate that is lower than the "40% of monthly income" (BPLR).b)The majority of banks provide an interest rate that is higher than the "Bench Mark Prime Lending Rate" (BPLR).c)The majority of banks provide an interest rate that is lower than the "80% of monthly income" (BPLR).d)The majority of banks provide an interest rate that is lower than the "Bench Mark Prime Lending Rate" (BPLR).Correct answer is option 'D'. Can you explain this answer? for Bank Exams 2024 is part of Bank Exams preparation. The Question and answers have been prepared according to the Bank Exams exam syllabus. Information about Among the given which of the following is correct about the rate of interest provided by bank in case of home loan?a)The majority of banks provide an interest rate that is lower than the "40% of monthly income" (BPLR).b)The majority of banks provide an interest rate that is higher than the "Bench Mark Prime Lending Rate" (BPLR).c)The majority of banks provide an interest rate that is lower than the "80% of monthly income" (BPLR).d)The majority of banks provide an interest rate that is lower than the "Bench Mark Prime Lending Rate" (BPLR).Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Bank Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Among the given which of the following is correct about the rate of interest provided by bank in case of home loan?a)The majority of banks provide an interest rate that is lower than the "40% of monthly income" (BPLR).b)The majority of banks provide an interest rate that is higher than the "Bench Mark Prime Lending Rate" (BPLR).c)The majority of banks provide an interest rate that is lower than the "80% of monthly income" (BPLR).d)The majority of banks provide an interest rate that is lower than the "Bench Mark Prime Lending Rate" (BPLR).Correct answer is option 'D'. Can you explain this answer?.
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