5 Stages of Personal Loan Verification Process in India

5 STEPS OF PERSONAL LOAN VERIFICATION PROCESS

Loan Application Online Decisioning Document Collection Document Verification Loan Disbursal

Loan Application Once you have decided where you want to apply for a personal loan. The first step is you can start with the loan application process, as soon as you submit the application.

Online Decisioning After receiving your loan application, many NBFC gives you an instant loan decisioning based on factors like your, income, age, location, CIBIL score, Etc.

Document Collection Next steps is the personal loan documents collection. An agent will contact you for document collection, The following are the documents required for a loan: 1. Proof of address & Identity.

2. Proof of employment and income.

Document Verification An applicant has to provide all the necessary documents as per lender requirements. If you want to easy and smooth verification process then you need to make sure the all documents are valid and error free.

Loan Disbursal Once your all the documents are verified, the lender approves the personal loan application and gets started with the disbursal of the loan amount sanction shortly in your accounts.

Reference URL: https://en.wikipedia.org/wiki/Loan https://www.fullertonindia.com/knowledge-center/personal-loanverification-process.aspx

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