What are the stages involved in taking a loan?
There are three main stages – 1. Application – Whereby you submit a completely filled in application with all necessary documents. 2. Sanction – Whereby you get an approval for a specific loan amount based on the value of your property and repayment capabilities. 3. Disbursement – Whereby the loan amount is transferred.
There are three main stages – 1. Application – Whereby you submit a completely filled in application with all necessary documents. 2. Sanction – Whereby you get an approval for a specific loan amount based on the value of your property and repayment capabilities. 3. Disbursement – Whereby the loan amount is transferred.
Answer. The following are the stages involved in taking a loan Application – Submit a completely filled in application form with all KYC documents, Income documents, Bank statements and Loan statements (If any) along with AF/PF chq. Sanction – You get an approval/sanction letter for a specific loan amount, tenure, ROI, based on your requirement, repayment capability and valuation of the property. Disbursement Transfer of loan amount, which will be made as per stage of construction.