What kind of information/documents you will check before senction of loan?

Question

Accepted Answer

Before sanctioning a loan, I check various information and documents.

Credit score and credit history of the borrower
Income and employment details of the borrower
Collateral offered by the borrower
Purpose of the loan
Legal documents like ID proof, address proof, and income proof
Bank statements and tax returns
Credit reports from credit bureaus
Business plan and financial statements for business loans

Accepted Answer

Identity proof- Accepted documents include passport copy, voter ID card, driving license or Aadhar card. Address proof- Aadhar card, driving license, voter ID, or passport copy work as address proof too. Bank statements of the last three months.

Accepted Answer

Documents verification and cibil chk loan eligibility thn sanction the loan

Accepted Answer

-If customer belongs to the SENP then we will check kyc, positive verification, banking current & savings, cibil ( know about the repayment of current loan & old loan) & 3 years ITR ( check the gross total income)

-If customer belongs to the salaried then we will check his identity in his office, experience time, HR confirmation on the mail & check the monthly salary credited in his account.

What kind of information/documents you will check before senction of loan?

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