Organize Initial Set of Documents
Arambh team helps you identify and collect the initial set of documents that are required to login your file.
File Sent to Bank for Pre Login Scrutiny
The documents are sent to the Banker for their scrutiny and assessing their accuracy. This is a critical initial step, where the banker identifies the discrepancies or shortfall, before they log in the file.
File Login
Lender has accepted your case and has entered your details in its system, after which its team will begin the process of evaluating your loan eligibility through its standard operating procedure.
Personal Discussion with You
A senior Credit Manager from the bank will call or visit you for an informal conversation. They will try to understand your family and financial background.
Verification of Your Income
Your Income Eligibility is established based on your known sources of income, such as assessing your Bank statement, checking your salary slips, your Income Tax Returns, etc.
Verification of Your Current Address
Bank staff will visit your residence and work premises to establish the correctness of these locations.
Important Note:
Please note, at times, these verifications are not positive, such as when you were not at the premises when the verifier visited. In such cases, the verification will need to be reinitiated.
Legal Verification of the Property
Lawyer verifies whether the property papers are genuine and complete in every aspect, including the past chain, mutation, House Tax submission, etc.
Requirements:
- 13 years complete chain required (depends on queries)
- Any pendencies identified will need to be addressed
Technical Verification of the Property
Engineers visit the address mentioned in property papers to identify the property, take its measurements, and click pictures for the record.
Re-initiation Required If:
- Verification of residence or office not completed
- Property visit not completed or done by banker
- Personal Discussion requires additional documents for income or loans
Sanction Process
The process begins with you filling the Loan Application Form and submitting your personal details for final sanction approval.
OTC Needs to be Complete
One Time Charge (OTC) documentation and payment process needs to be completed as per bank requirements.
OTC Completion Process
Final verification and completion of all One Time Charge related formalities and documentation.
Docket and Signing Initiate Process
Preparation of the loan docket with all required documents and initiation of the signing process.
Signing Done with PDC Cheque
Completion of all signing formalities along with submission of Post-Dated Cheques (PDC) as required by the bank.
Submission of Docket in Bank
The complete loan docket with all signed documents is submitted to the bank for final processing.
Check All Documents - Disburse with PDD
Final verification of all documents. If not complete, disbursement will proceed with Post Disbursement Documents (PDD) list.
PDD List to be Shared with Customer
Post Disbursement Documents list is shared with the customer for submission of pending documents after loan disbursement.
