Go Back   The Finance Forums > Finance forums > Business Finance



Business Finance Discussions about business finance, such as accounts and accounting, business loans, taxes, and related business issues.

Reply
 
Thread Tools
  #1  
Old 12-08-2017, 01:23 AM
capitaworld capitaworld is offline
Junior Member
 
Join Date: Jul 2017
Posts: 27
Default What should I expect in the loan process?

CUSTOMER VERIFICATION PROCESS

KYC Check: A customer existence is verified through his identity proof and address proof.

Bank Statement: It is a useful document that helps in checking customers’ average bank balance, cheque bouncing, EMI bouncing, salary crediting in bank account etc.

Income Documents: To calculate the loan eligibility of a customer, their income proof is asked for. It can be Salary Slip, Copy of Income Tax Return, Form 16, Balance Sheet, Profit and Loss Account, etc.

Physical Visit: The loan officer will visit all the addresses given in application form (e.g. Residence, Office, etc.). Various names have been given for this activity such as CPV (Contact Pont Verification), FI (Field Investigation), PD (Personal Discussion), etc.

Tele Verification: A Phone call is made to all the phone numbers given on application form (e.g. Residence, Office, References, Co-applicant, etc.). As a cross-verification process, phone directory and phone bills are also checked.

CIBIL Score: After doing customer data entry in loan processing software, the CIBIL score is generated. The report will show repayment pattern or previous/existing loans and credit cards. Your loan may get rejected if your CIBIL score is low or you have a default in any loan/credit card in the report.

Valuation of Asset: In cases of Loan against Property, Used Car Loan, or any other mortgage loan cases, verification is carried out by a separate Valuation Agency to ascertain the real cost of the asset.

If you have any query, you can get free advice for car loans from us.

Visit: CapitaWorld dot com

CapitaWorld Platform

Ahmedabad
Reply With Quote

Old Sponsors
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



» Boards




All times are GMT -4. The time now is 11:10 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.