Most important CAIIB Retail
Case Study - Retail Banking - 1
A bank "X" issued a platinum credit card to mr. A with a credit limit of rs. 1,00,000. The bill date is 2nd of every month and due date is 22nd of the same month.
The rate of interest charged is 2.38% per month.
interest is calculated on daily basis.
Note: there is no interest charged for the first 50 days.
Overdue charges is rs. 600
Mr. A makes a shopping worth rs. 1,00,000 in the month of july and paid rs. 85000 on 22nd july and rest pays on 10th august with final payment.
Q.1 For how much days interest will be paid?
i) 18 days ii) 21 day iii) ..... days iv) No interest will be paid as MAD is paid
Q.2 What will be the financial charges on final payment?
Q.3 How much payment he will make in the full settlement at 10 august?
Q.4 What will be the overdue charges for the month?
Q.5 What will be the late payment charges are levied on him?
Attachments area
Case Study - Retail Banking - 1
A bank "X" issued a platinum credit card to mr. A with a credit limit of rs. 1,00,000. The bill date is 2nd of every month and due date is 22nd of the same month.
The rate of interest charged is 2.38% per month.
interest is calculated on daily basis.
Note: there is no interest charged for the first 50 days.
Overdue charges is rs. 600
Mr. A makes a shopping worth rs. 1,00,000 in the month of july and paid rs. 85000 on 22nd july and rest pays on 10th august with final payment.
Q.1 For how much days interest will be paid?
i) 18 days ii) 21 day iii) ..... days iv) No interest will be paid as MAD is paid
Q.2 What will be the financial charges on final payment?
Q.3 How much payment he will make in the full settlement at 10 august?
Q.4 What will be the overdue charges for the month?
Q.5 What will be the late payment charges are levied on him?
Attachments area
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