Case solving- Process from pre sanctioning to post sanctioning of retail loan

Question

Accepted Answer

The process of retail loan from pre-sanctioning to post-sanctioning involves several steps.

Pre-sanctioning involves collecting necessary documents and verifying the eligibility of the borrower.
The loan application is then processed and the creditworthiness of the borrower is assessed.
Post-sanctioning involves disbursing the loan amount and ensuring timely repayment.
Regular follow-ups are done to ensure timely repayment and any default is addressed promptly.
The loan account is closed once the entire amount is repaid along with the interest.
Examples of retail loans include personal loans, home loans, and car loans.

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