11:18 AM 89 TV "] Q. 3. A [CILO -3] a) There is a proposal for home loan with the following particulars: Cost of Flat = Rs.48 lakh, Stamp duty and registration charges = Rs. 6 lakh, Loan amount requested is 45 lakh, Gross monthly salary income = Rs. 1,00,000/-, Monthly TDS = 20,000/-, Monthly PF deduction = 10,000/-, Tenor of loan = 20 yrs, Interest rate: 7 % p.a (floating), Margin requirement: as per RBI norms. EMI per Rs one lakh is Rs.776. Net take home salaryl income (gross salary/ income net of deductions including EMI of proposed loan) should not be less than 40%. Work out the EMI amount for the eligible loan as per rules. b) Cost of new car is Rs. 19,98,000, Cost of accessories is Rs. 42760, Cost of insurance is Rs56,480, Cost of registration is Rs. 2,28,570. Margin offered is 25% against margin required @ 15%. Gross monthly income = Rs. 90,000/-, Monthly TDS = 10,000/-, Monthly PF deduction 10,000/-, Net take home salary/ income (gross salary/ income net of deductions including EMI of proposed loan) should not be less than 40%. With Rs. 1558 being the EMI per lakh @8% interest p.a. for 84 months' period, how much will be the total amount of EMI for the loan approved: 11:19 AM a) A businessman approaches a bank for a loan of Rs. 100 lakh against his commercial property situated in a metro with market value of Rs. 150 lakh and forced sale value of Rs.100 lakh. As per his Income Tax Assessment Order for the last three years his annual income (PAT + DEP) is Rs. 23, 20 & 17 lakh respectively. Net income (gross income net of deductions including EMI of proposed loan) should not be less than 50%. With 30% margin, the Intt @12 % pa, repayment in 15 years, how much will be the EMI amount for the approved loan if per lakh EMI is Rs. 1201 for 180 months? b) Mr. Paresh has got admission for pursuing MBA at Toronto University Business School, Canada. Yearly expenses in CAD are as under: Annual fee = 40,000 (allowed in full), Boarding/lodging = 18,000 p.a (up to 40% of Tuition fee permitted), Examination & Lab fee (annual) = 6,000 (allowed in full), building fund/refundable deposit = 5000 (allowed up to 10% of tuition fee) Books, computer = 3000 (allowed upto 20% of tuition fee). Paresh's father is agreeable to mortgage his residential house valued at Rs. 1 crore How much loan bank shall sanction with 15% margin, in Indian Currency @Rs.59 per Canadian Dollar? Why the income of the parent or the student is not considered in education loans? 11:18 AM 89 TV "] Q. 3. A [CILO -3] a) There is a proposal for home loan with the following particulars: Cost of Flat = Rs.48 lakh, Stamp duty and registration charges = Rs. 6 lakh, Loan amount requested is 45 lakh, Gross monthly salary income = Rs. 1,00,000/-, Monthly TDS = 20,000/-, Monthly PF deduction = 10,000/-, Tenor of loan = 20 yrs, Interest rate: 7 % p.a (floating), Margin requirement: as per RBI norms. EMI per Rs one lakh is Rs.776. Net take home salaryl income (gross salary/ income net of deductions including EMI of proposed loan) should not be less than 40%. Work out the EMI amount for the eligible loan as per rules. b) Cost of new car is Rs. 19,98,000, Cost of accessories is Rs. 42760, Cost of insurance is Rs56,480, Cost of registration is Rs. 2,28,570. Margin offered is 25% against margin required @ 15%. Gross monthly income = Rs. 90,000/-, Monthly TDS = 10,000/-, Monthly PF deduction 10,000/-, Net take home salary/ income (gross salary/ income net of deductions including EMI of proposed loan) should not be less than 40%. With Rs. 1558 being the EMI per lakh @8% interest p.a. for 84 months' period, how much will be the total amount of EMI for the loan approved: 11:19 AM a) A businessman approaches a bank for a loan of Rs. 100 lakh against his commercial property situated in a metro with market value of Rs. 150 lakh and forced sale value of Rs.100 lakh. As per his Income Tax Assessment Order for the last three years his annual income (PAT + DEP) is Rs. 23, 20 & 17 lakh respectively. Net income (gross income net of deductions including EMI of proposed loan) should not be less than 50%. With 30% margin, the Intt @12 % pa, repayment in 15 years, how much will be the EMI amount for the approved loan if per lakh EMI is Rs. 1201 for 180 months? b) Mr. Paresh has got admission for pursuing MBA at Toronto University Business School, Canada. Yearly expenses in CAD are as under: Annual fee = 40,000 (allowed in full), Boarding/lodging = 18,000 p.a (up to 40% of Tuition fee permitted), Examination & Lab fee (annual) = 6,000 (allowed in full), building fund/refundable deposit = 5000 (allowed up to 10% of tuition fee) Books, computer = 3000 (allowed upto 20% of tuition fee). Paresh's father is agreeable to mortgage his residential house valued at Rs. 1 crore How much loan bank shall sanction with 15% margin, in Indian Currency @Rs.59 per Canadian Dollar? Why the income of the parent or the student is not considered in education loans