You need to fill up an Application Form to request for a loan from us. This form can be obtained from any of our branches or you can download it here.

The form has several sections.

Main Application: This section is the formal statement asking for a loan of a particular amount under a particular scheme. Details of the schemes can be found here.

No. of applicants: At least one applicant is required. However, it is also possible to have a co-applicant.

Personal Information: For each applicant and co-applicant, various personal information, residential information, and employment information is required. You will also be needed to submit your PAN card or Voter ID number, and declare your annual income.

Financial Information: A simple table listing the assets and liabilities of the applicant and co-applicant needs to be given. These will be matched against the financial documentation given by way of salary slips, income tax returns etc to determine your eligibility and the amount that can be given as loan. Aside from these, details of your existing loans also need to be given.

Property Details: The location of the property , whether the Title is clear or not, the area of the plot (in case of a self constructed house) or the area of the flat, and other such details need to be filled in.

General Declarations: These are simple questions about how the property needs to be used, and the present status of the property.

References: At least two references from people who have worked with you, or have known you in a professional and/or personal capacity for a reasonable period of time.

Additional information: Your regular salary account details also need to be given with the application form.

Photographs: At least one photograph of the applicant and co-applicant need to be submitted along with signatures.

Guarantor’s Form: Personal information, Contact Information, and financial information of each of the Guarantor needs to be submitted, this is on a separate form, which you can download along with the main application form.

Employer Details: In case your employer is an unlisted firm, or a not very well known firm, then it is always a good idea to give a short summary about the nature of business, competitors, number of offices, turnover etc. Usually, the company profile given on the website is sufficient.

Use the Document Checklist to make sure that you are submitting all the required copies of documents, and carry the originals when you come to submit your application.

Bank Statements: These needed to be submitted, ideally for a period of 12 months at least. They are scrutinized for their level of activity (number and nature of transactions), average bank balance, cheque returns, cheque bounces, and periodicity of payment (eg. Salary amount deposited at a particular interval).

Personal Discussion

Typically, you will have an interview with one of our executives, during which you can clear all your doubts about figures and procedures. In some cases, you may be asked to furnished additional guarantors or details.

Verification

A field verification will be done for all the information provided, especially for
•  Residential Address
•  Office address
•  Employment verification
•  Bank Account verification
•  Residence and Office Telephone numbers
•  Property Address
•  Financial

Sometimes there is also a quick check for the references that have been provided by you in the application form. Once your credentials are validated, it becomes easier to establish a trust between you and us.

Loan Approval

Once your application is processed and depending on the Loan amount applied and repayment capacity, the final loan amount will be communicated to you. You will then be issued a sanction letter stating the terms and conditions under which the sanction is given. These terms and conditions have to be fulfilled before the loan amount to be disbursed.

Offer Letter
The Offer Letter will state the loan amount, rate of interest, tenure, mode of repayment and other details and special conditions.

The Acceptance letter will have to be given by you in the given standard format provided by us, along with any documents as given in the terms and conditions of the sanction letter. It is only a financial approval of your loan proposal. Loan disbursement would be after you have accepted the offer and the mortgage is legally enforceable and technically clear.

Submission of Legal Documents
Once you have accepted the offer, you will be required to handover the original documents for the property so that it can be kept as security with us till the loan is fully repaid. Any further documents required as per conditions of the loan like collateral security also needs to be submitted at this stage.

Signing of Agreement
The agreement & other documents needs to be signed according to due procedure.