UNSECURED PERSONAL LOAN

An unsecured personal loan is a personal loan on which no collateral is provided. The issuance of the loan is, hence, based solely on the applicant’s credit worthiness. To apply for unsecured personal loans, you must first specify the loan requirements. You must provide details for the loan applicant such as name, address, identification number, and employment. You must also enter details about the income, expenses, assets and liabilities of the loan applicant.

You must then select the required loan offer and then submit the application for unsecured personal loan.

Unsecured Personal Loan Workflow

Following are the steps involved as part of application submission:

• Loan Requirements: You can specify the amount to be borrowed, purpose of the loan, tenure, and co-applicant if there is any.
• Applicant Information: The applicant information section consists details like, personal information, identity, contact and occupation information of the applicant.
• Financial Information: This section consists of details such as income, expense, asset, and liability details of the applicant.
• Offer Selection: It displays multiple loan offers with an option to select any offer of choice.
• Review and Submit: It displays the summary of the loan application with details submitted in the above section and allows to edit the details.
• Credit Decision Outcome: It displays the credit decision once the loan application is submitted successfully.

How to reach here:

Dashboard > Personal Loan

To apply for personal loan:

1. The applicant visits the bank portal page and select ‘Unsecured Personal Loan’ as an option from the product showcase
2. The product selection screen appears.

3. Once the appropriate product is selected, click Proceed. The Unsecured Personal Loans screen appear with orientation details, like steps to be performed while applying the loan, details needed for application and eligibility criteria.

4. Click Continue, if you are a new user or wish to continue as a guest user.
   OR
   Click Login if you are a registered user. For more information refer to Register User section.
   OR
   Click Cancel to abort the loan application process. For more information on cancelling an application refer to Cancel Application section.
5. The loan requirement screen appears. Enter the loan requirement details like, loan amount that is amount to be borrowed, loan amount, loan tenure, purpose, and if there is a co-applicant.

Loan Requirement

Field Description

Field Name	Description
Help us understand your loan requirements
What is your purpose for this loan ?	Reason to borrow the loan amount.
Loan Amount	The loan amount that the applicant would like to borrow.
Loan Term	Tenure of loan in terms of years and months to repay the loan amount.
Is there a co-applicant	Indicates if there is a co-applicant along with the primary applicant.
Is Co-applicant an existing user	Indicates whether co-applicant is an existing user. This field appears, if you select Yes, in the Is there a Co-ApplicantAn applicant refers to an individual or a non-individual (organization or trust) who has applied for one or more main lines. ? field.
Co-applicant Customer ID	Indicates the co-applicants customer ID. This field appears, if you select Yes, in the Is Co-Applicant an existing user ? field.
Send Verification Code via	Indicates the channel on which the verification code is to be sent. The options are: Co-applicants registered email address Co-applicants registered phone number This field appears, if you select Yes, in the Is Co-Applicant an existing user ? field.

6. Enter the relevant loan requirement details like, loan tenure, amount, repayment frequency, and other details.
7. If there is a co-applicant click Yes from the Is there a co-applicant ? field.
   OR
   Click No if there is a single applicant.
8. If co-applicant is an existing user click Yes in the Is co-applicant an existing user? field.
   OR
   Click No if the co-applicant is not an existing user.
9. If you click Yes in the Is co-applicant an existing user? field, enter the co-applicant customer ID in the Co-applicant Customer ID field.
10. Once the co-applicants customer ID is entered, it needs to be verified. From the Send Verification Code via field, select the appropriate option to receive the verification code.
11. Click Verify.The Verification screen appears.
12. In the Verification Code field, enter the verification code and click Submit.
13. Code verified message appears. Click Continue. The Applicant Information, Property Information, Funding Information, Primary Information, Proof of Identity, Contact Information, and Employment Information section appears. Depending on the number of co-appplicants, the respective sections are added.

14. The primary information section will open to enter information about the applicant.

Primary Information

In the primary Information screen enter the appropriate information like, salutation, first name, last name, date of birth, citizenship, etc.

Primary Information

Field Description

Field Name	Description
Salutation	Salutation of applicant. The options are: Mr Ms Mrs Others
First Name	First name of the applicant.
Middle Name	Middle Name of the applicant.
Last Name	Last name of the applicant.
Date of Birth	Date of birth of the applicant.
Gender	Applicants gender.
Marital Status	Marital status of the applicant. The options are: Married Unmarried Divorced
Number of Dependents	Number of people dependent on the applicant.
Country of Citizenship	Applicants country of citizenship.
Permanent Resident	Indicates whether applicant is permanent resident.
Country of Residence	The residence country name of the primary applicant. This field appears if you select No in the Permanent Resident field.

15. Click Continue . The Proof of Identity section appears.

Proof of Identity

In the proof of identity section enter the identity details such as, identity type, ID number, and expiry date.

Proof of Identity

Field Description

Field Name	Description
Identity
Type of Identification	Identification type of the applicant. The identification type could be: Passport Driving License
ID Number	Identification number corresponding to the identification type.
Expiration Date	Identification type expiry date.

16. Click Continue to save the identification information. The Contact Information section appears.

Contact Information

In the contact information section enter the contact details such as, accommodation type, address, city, state, zip, email ID, etc.

The Previous Residential Address section appears if the applicant is staying at the current location for less than the specified period.

Contact Information (Current and Previous Residential Address)

Field Description

Field Name	Description
Residential Address
Country	Residing country name of the applicant.
Address 1-2	Address details of the applicant.
City	City where the applicant resides.
State	State name of the applicant.
Zip Code	Zip code of the applicant.
Staying Since	Date since when the applicant is staying at the current address.
Accommodation Type	Residential accommodation type of the applicant. The accommodation types are: Company Provided Inherited Leased Owned Parental Rented Other
Previous Residential Address
Country	Country where the applicant stayed prior to the current residence.
Address Line 1-2	Address details where the applicant stayed prior to the current residence.
City	City where the applicant stayed prior to the current residence.
State	State where the applicant stayed prior to the current residence.
Zip Code	Zip code where the applicant stayed prior to the current residence.
Accommodation Type	Residential accommodation type of the applicant. The accommodation types are: Company Provided Inherited Leased Owned Parental Rented Other
Email
Email	Email ID of the applicant.
Please confirm your email ID	Re-enter the email ID to confirm.
Phone Number
Phone Type	Type of phone. The options are: Personal Mobile Work Mobile Home Phone Work Phone
Primary Phone Number	Phone number corresponding to the selected phone type.
Add an alternate phone number	Alternate phone number other than the primary phone.
Phone Type	Alternate phone type. The options are: Personal Mobile Work Mobile Home Phone Work Phone This field appears if you select Yes in the Add an alternate phone number field.
Alternate Phone Number	Alternate phone other than primary phone number. This field appears if you select Yes in the Add an alternate phone number field.
Default as that of Primary Applicant	Indicates whether address details of co-applicant is same as primary applicant. This field appears if you select Yes in the Is there a co-applicant field in the loan requirement screen.

Employment Information

In the employment section, enter the employment details, employer name, employment status, employment type, and start date.

Note: The additional employment details section appears if the current employment is less than the number of specified years.

Employment Information

Field Description

Field Name	Description
Employment Type	Occupation type of the applicant. The types are: Salaried Self Employed Others
Employment Status	Occupation status of the applicant. The options are: Part Time Full Time
Employer Name	Name of the company or firm in which the applicant is employed.
Start Date	Employment start date of the applicant.
Designation	Designation of the applicant.
Gross Annual Salary	Annual salary of the applicant.
Country	Country name in which the applicant is employed.
Address Line 1-2	Applicants office address details.
City	City name in which the applicant is employed.
State	State name where the applicant is employed.
Zip Code	Zip code of the location where the applicant is employed.

17. Click Add to update the employment information.
18. Click to add more than one employment information.
    

Note: You can lick to edit the employment information.

19. Click Continue to proceed with the application process.
20. Click Continue .
    OR
    Click Save for Later, to register and resume the loan application at later stage. For more information on save for later, refer to Save for Later section.
    OR
    Click Cancel to close the auto loan application process. For more information on cancel-ling an application, refer to Cancel Application section.

21. The Financial Profile screen appears with Income, Expense, Asset, and Liability sections.

Financial Profile

22. Enter the appropriate details in the relevant sections.

Income Information

23. From the Type of Income list, select the income source of the applicant.
24. In the Gross income field, enter the applicants gross income.
25. In the Net Income field, enter the applicants net income.
26. From the Frequency list, select the income frequency.

Note: To add and delete income details, click and icons respectively.

Income Information

Field Description

Field Name	Description
Primary Income
Income Type	Income type of the applicant. The income type could be: Rent Investment Inheritance Business
Gross Income	Gross amount of income earned.
Net Income	Net amount of income.
Frequency	Income frequency of the applicant. The frequency could be: Monthly Quarterly Half Yearly Yearly

27. Click Save to update the income details.
28. Click Continue to proceed with the expense details section.

Expense Information

29. From the Type of Expense list, select the applicants expense.
30. In the Total Expense Value field, enter the applicants expense value.
31. From the Frequency of Expense list, select the expense frequency.

Note: To add and delete expense details, click and icons respectively.

Expense Information

Field Description

Field Name	Description
Primary Expense
Type of Expense	Expenditure type for an applicant.
Total Expense Value	Total expense value incurred by the applicant.
Frequency of Expense	Expense frequency for the expense. The frequency could be: Monthly Weekly Yearly

32. Click Save to update the expense details.
33. Click Continue to proceed with the asset details section.

Asset Information

34. From the Type of Asset list, select the appropriate option.
35. In the Value field, enter the value of the liability in the given currency .

Note: To add and delete asset details, click and buttons respectively.

Asset Information

Field Description

Field Name	Description
Primary Assets
Type of Asset	Type of asset the applicant is holding. The asset could be: Motor Vehicle Property Land Furniture
Value	Market value of the asset.

36. Click Save.
37. Click Continue to proceed with the liability details section.

Liabilities

38. From the Type of Liability list, select an appropriate option.
39. In the Original Value field, enter the original value that is the initial value of the liability.
40. In the Outstanding Value field, enter the outstanding value of the liability.

Note: To add and delete liability details, click and buttons respectively.

Liabilities

Field Description

Field Name	Description
Primary Liability
Type of Liability	Liability type for an applicant.
Original Value	Original value of the liability.
Outstanding Value ($)	Outstanding value of the liability.

41. Click Continue to proceed with the application process.
42. Once the asset, liability, income, and expense details are entered click Continue.
43. The Offers screen appears. Click the suitable offer.

44. Click Continue.
45. Click Review and Submit. The review screen appears.

46. Click to edit the loan requirement details.
47. Once the details are edited click Continue.
48. The review and submit screen appears. Click Submit.
49. The application reference number is generated with the credit decision outcome and with the next set of steps.

50. Click Track your Application. The application dashboard screen appears. For more information on track application refer to Track Application section.
    OR
    Click Go to Homepage to navigate to the application dashboard screen.
51. The Login screen appears. In the USERNAME field, enter the user name created while submitting the application.
52. In the PASSWORD field, enter the password.
53. Click Login. The application tracker screen appears with submitted as well as in draft applications.

54. If the applicant who has filled in the application details is not a registered channel user will have an option to register for channel access. Click Register.

Register User

To register an applicant:

• In the Email field, enter the email address.
• To confirm enter the enter the email ID in the Confirm Email field.
• Click Verify link to verify the entered email address.
• In the Verification Code field, enter the verification code sent on the registered email ID.
• Click Resend Code, if the code is not received.
• Click Submit. The successful email verification message appears.
• In the Password field, enter the password required for log-in.
• To confirm enter the password in the Confirm Password field.

Register Applicant

Field Description

Field Name	Description
Email	The email ID of the co-applicant.

• Click Send Link to receive the co-applicants registration link.
  OR
  Click Track Application to view the applications status.
  OR
  Click Go To Homepage to view the loan application.

Cancel an Application

At any point you can cancel an application.

To cancel an application:

• Click Cancel. The cancel application screen appears with reasons to cancel.

Cancel Application

Field Description

Field Name	Description
Reason for Cancelling	Indicates the reason to cancel an application. The cancellation reason could be: Difficulty in completing the form insufficient time Need more product details Incorrect product selection Others
Please Specify	Specify the reason to cancel the application. This field appears if you select Others option in the Reason for Cancelling.

• Select the appropriate reason for cancelling the application.
• Click Cancel and Exit to cancel and exit the application. Application has been cancelled message appears.
  OR
  Click Return to Application to view the loan application.

• Click Go To Homepage to navigate to the application dashboard screen.

Save for Later

To save an application

• Click Save for Later. The Save and Complete Later screen appears.
• In the Email field, enter the email address.
• To confirm enter the enter the email ID in the Confirm Email field.
• Click Verify link to verify the entered email address.
• In the Verification Code field, enter the verification code sent on the registered email ID.
• Click Resend Code, if the code is not received.
• Click Submit. The successful email verification message appears.
• In the Password field, enter the password required for log-in.
• To confirm enter the password in the Confirm Password field.

Save and Complete Later

Field Description

Field Name	Description
Email	The email ID of the user.
Confirm Email	To confirm re-enter the email ID entered in the Email field.
Password	Indicates the password required for login.
Confirm Password	To confirm re-enter the password entered in the Password field.

• Click Save Application .
  OR
  Click Cancel Application to close the save and complete later screen.
  OR
  Click Return to Application to navigate to the application screen.
  

Note: The saved application appears in Track Application under In Draft. You can click the application summary and resume application submission process.

• Click Track your Application. to view the application status.

Application Tracker

The track application allows you to view the progress of the application. Through track application you can:

• View submitted application: It allows you to view the submitted application details, view information related to the application and complete pending tasks applicable.
• View application in draft: If you click save for later while submitting the application, the application is saved as draft application. So that you can retrieve the application at later stage and complete the application submission process.

To track an application:

• Click Track Application on the dashboard. The Login screen appears.
• Enter the registered email ID and password, click Login.
• The Application Tracker screen appears. By default the submitted application view appears.

Submitted Application

Field Description

Field Name	Description
Application ID	Application reference number. It is a unique number generated by the application and allotted to an application.
Amount	The approved loan amount.
Applicant Name	Name of the loan applicant.
Submitted On	Application submission date.
Status	Current status of the application.

• Click the application details to view the application summary. The Application Summary screen appears with details like, actions to be performed and application details to be viewed.

• Click the links under the Action Required section. The Account Configuration screen appears.

Account Configuration

This section allows you to view and configure the features of the loan account.

Field Description

Field Name	Description
Pay only interest for the initial period	Indicates if you wish to pay only interest at the beginning of the loan.
Interest Only Term	The interest only term in terms of years and months. This field appears if you select Yes option in the Pay only interest for the initial period field.
Principal and Interest Repayment Frequency	The principal and interest repayment frequency. The frequency could be: Monthly Quarterly Half Yearly Annually Daily
Fixed rate for the initial period	Indicates to avail fixed rate of interest loan.
Fixed Rate Term	Term for fixed rate of interest in terms of years and months. This field appears if you select Yes option in the Fixed rate for the initial period field.
Avail Redraw Facility	Indicates whether redraw facility is required on the loan account.
Statement Required	Indicates whether loan statement is required.
Statement Frequency	Frequency to receive the loan statement. This field appears if you select Yes option in the Statement Required field.

• Enter the appropriate values in the relevant fields.
• Click Continue. The Account Summary screen appears with details, rate type, loan term, loan repayment frequency, and repayment amount.

• Click Continue. The Application Summary screen appears.
• Click on the links under the View section to view application summary, account summary and other details.

Application Summary

Field Description

Field Name	Description
Application Summary
Applicant Name	Loan applicants name.
Purpose	Purpose of loan application.
Requested Amount	The amount for which the loan is applied.
Approved Amount	Loan amount approved by the bank including the fees, and other costs.
Tenure	Loan repayment tenure.
Loan Date	Loan application date.

Account Summary

Account Summary section allows you to view the brief details about the principal amount and interest rate type. The details are displayed are, loan tenure, loan repayment frequency, rate type, and approximate repayment amount.

Field Description

Field Name	Description
Account Summary
Rate Type	Indicates the rate type of the loan, it could be fixed or variable or both.
Frequency	The principal and interest repayment frequency: The frequency could be: Monthly Quarterly Half Yearly Annually Daily
Term	Term applicable to the repayment and the rate type.
Approximate Repayment Amount	Loan repayment amount for the repayment and the rate type.

Application Fees

Application Fees section allows you to view the details about the fees paid to wards the approval of the loan. The application fees may include, processing fees, mortgage fees and other fees.

Field Description

Field Name	Description
Application Fees
Registration on Mortgage	Registration on mortgage fees is paid towards the government agencies for registering the home loan.
Title Search Fees	Fees paid towards the research history of a title on a real estate.

Status History

Status history displays the status of the various stages of loan application, remarks, user name, and date on which the status is updated.

Field Description

Field Name	Description
Status History
State	Application status.
Remarks	Displays the remarks if any.
Acted By	User ID who has processed the account application.
Updated On	Account application updated date.

Document Upload

Document upload allows you to upload the documents which are required for the application processing. You can upload multiple documents for a document type. Simultaneously you can upload multiple documents. You can remove any uploaded document.

To upload / remove a document:

• Click Documents link.
• Click Choose file.
• The open file screen appears. Select the appropriate file to be uploaded and click Open.
• Click Upload. The file is uploaded.

Document Upload

Note: Click to remove the uploaded document.

Field Description

Field Name	Description
Choose File	File to be uploaded.

• Click Document link. The status of the uploaded document appears, once the document are verified.

• Click on the image link to download the uploaded document file.

Accept / Reject Offer

Once the account configuration and required documents are uploaded, offer is generated and made available in the tracker for you to view, download, and provide approval / rejection.

To accept / reject an offer:

• Click Offer link. The screen with the offer letter and agreement section appears.

Accept / Reject Offer

Field Description

Field Name	Description
Offer Letter	Displays the generated offer letter.
Offer Letter Acceptance	Select the check box to accept the terms and conditions to accept / reject the offer.

• Click to download the offer letter and other document.
• Select the terms and conditions check box and click Yes to select the offer. The offer acceptance message appears.
  OR
  Click No to reject the offer.

• Click Cancel Application to cancel the application.
  OR
  Click Return to Tracker. The Submitted Application screen appears.

FAQs

I am an existing customer of the bank but do not have channel access, how can I proceed?

You can register yourself as a channel user through the ‘Register’ option available on the portal page and provide the required details.

Can I proceed with the application if I am not an existing channel user?

Yes. You can continue filling in the application details as a guest user and need not necessarily login.

Does the Co-Applicant also need to login for the system to populate the information if he/she is an existing channel user?

No. The co-applicant’s customer ID needs to be entered by the primary applicant if he/she is an existing user. A verification code will be sent to the co-applicants email ID and/or mobile number. Once the verification process is successful, the co-applicant’s details will be populated.

Why am I asked to capture previous residential address details?

The bank has a resident stability policy in place wherein if the applicant is staying at the current address for less than a defined term then he/she needs to define the previous residential address.

My co-applicant and I live in the same house, do I need to enter address details again while defining co-applicant information?

No. There is an option in the co-applicant contact information section to default the primary applicant’s address in that of the co-applicant’s residential address fields.

The application requires me to define certain financial details that are not applicable to me. How do I proceed?

In case a financial parameter such as , an expense as mortgage is not applicable to you, you can mention the value ‘0’ against that specific financial parameter and proceed with the application.

Why am I being asked to capture previous employment details?

The bank has a employment stability policy in place wherein if the applicant has not completed a defined term in the current organization then he/she needs to define previous employment details.

Is it mandatory to change the default configuration for an account as part of application tracker?

No. You can simply view and confirm the account configuration. This facility has been provided so that you can edit any parameter or facility of the account that you wish to change.

I have saved the application. Can my co-applicant resume the application from the application tracker?

Yes. The co-applicant needs to be a registered channel user to login to the application tracker and resume the application.

Can the co-applicant perform all the pending tasks in the application tracker?

Yes, the co-applicant has all the rights as that of the primary applicant.

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