ChannelPlay Interview Questions and Answers

Customers who meet certain criteria are eligible for loans.

• Customers with a good credit score are eligible for loans.

• Customers who have a stable source of income are eligible for loans.

• Customers who meet the minimum age requirement are eligible for loans.

• Customers who have a low debt-to-income ratio are eligible for loans.

• Customers who provide the necessary documentation and meet the bank's loan criteria are eligible for loans.

Basic home loan policy refers to the guidelines and criteria set by a financial institution for granting home loans.

• Basic home loan policy outlines the eligibility criteria for borrowers, such as income requirements, credit score, and employment history.

• It also includes the loan-to-value ratio, which determines the maximum amount that can be borrowed relative to the property's value.

• The policy may specify the interest rates, repayment terms, and any additional fees or charges...read more

LTV stands for Loan-to-Value and it is a financial metric used to assess the ratio between the loan amount and the appraised value of an asset.

• LTV is commonly used in the mortgage industry to determine the risk associated with a loan.

• A higher LTV indicates a higher risk for the lender, as it means the borrower has less equity in the asset.

• LTV can be calculated by dividing the loan amount by the appraised value of the asset and multiplying by 100.

• For example, if a borrower tak...read more

The PD process refers to the process of professional development in a company or organization.

• PD stands for professional development.

• It involves activities and programs designed to enhance employees' skills, knowledge, and abilities.

• The process may include training sessions, workshops, conferences, mentoring, and self-directed learning.

• PD helps employees stay updated with industry trends and advancements.

• It promotes career growth and improves job performance.

• Example: In a ban...read more

KYC documents are the identification and address proof documents required by financial institutions to verify the identity of their customers.

• KYC stands for Know Your Customer.

• KYC documents are used to prevent identity theft, fraud, and money laundering.

• Common KYC documents include passport, driver's license, utility bills, and bank statements.

• These documents provide proof of identity, address, and sometimes financial status.

• Financial institutions are legally required to coll...read more

HL stands for Home Loan and Lap stands for Loan Against Property.

• HL refers to a loan taken to purchase or construct a home.

• Lap refers to a loan taken by pledging a property as collateral.

• Documents required for HL include income proof, identity proof, address proof, property documents, etc.

• Documents required for Lap include income proof, property documents, identity proof, address proof, etc.