IN PRINCIPLE APPROVAL APPLICATION

TRANSACTION HOST INTEGRATION MATRIX

Legends

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No Host Interface Required.

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Pre integrated Host interface available.

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Pre integrated Host interface not available.

SR No

Transaction / Function Name

Oracle FLEXCUBE Core Banking 11.7.0.0.0

Oracle FLEXCUBE Universal Banking 12.4.0.0.0

Oracle Banking Platform 2.5.0.2.0

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Mortgage Loans - In Principle Approval Application SubmissionClosedA submission contains one or more applications submitted by the applicants in a single request.

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Introduction

An in principle approval loan indicates whether bank can potentially lend the amount to the borrower.

In principle approval is availed in the following scenarios:

Important information pertaining to in principle approval:

In Principle Approval Workflow

IPA Workflow

Following are the steps involved as part of application submission:

You are here How to reach here:

Dashboard > In Principle Approval

To apply for in principle approval loan

  1. Click the Proceed option available on the desired product card. The Mortgage Loans Orientation screen is displayed containing details informing the applicant about the steps involved in the loan application, details required for application and eligibility criteria.
  1. Click Continue, if you are a new/unregistered user.
    OR
    Click Login if you are a registered user. For more information on the application of a registered (existing user) view the Existing User section.
    OR
    Click Cancel to abort the loan application process. For more information on cancelling an application, view the Cancel Application section.
  2. The loan requirement screen is displayed. Enter the loan requirement details such as loan amount that is amount to be borrowed, loan tenure, and if a co-applicant is to be added to the application.

Loan Requirement

Field Name

Description

Help us understand your loan requirements

What is your purpose for this loan ?

The reason for which the loan application is being made.

How much would you like to borrow

The loan amount that you would like to borrow.

Tenure

The tenure of the loan in terms of years and months to repay the loan amount.

Is this the first time you are purchasing a house?

Indicates if the borrower is buying a house for the first time.

Is there a co-applicant

You can identify whether a co-applicant is to be added to the application or not.

Is Co-applicant an existing user

Indicates whether the co-applicant is an existing user.

This field is displayed, if you have selected Yes, in the Would you like to add a co-applicant? field.

Co-applicant Customer ID

You are required to enter the co-applicant’s customer ID, if the co-applicant is an existing user.

This field is displayed, if you have selected 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 is displayed, if you have selected Yes, in the Is co-applicant an existing user? field.
  1. Enter the relevant loan requirement details such as loan purpose, loan tenure, amount and other details.
  2. If a co-applicant is to be part of the application select option Yes in the Would you like to add a co-applicant? field.
    OR
    Click No if the loan is required for a single applicant.
  3. 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.
  4. If you have clicked Yes in the Is co-applicant an existing user? field, enter the co-applicant customer ID in the Co-applicant Customer ID field.
  5. Once the co-applicants customer ID is entered, it needs to be verified. From the Send Verification Code via field, select the desired option through which the verification code is to be sent.
  6. Click Verify. The Verification screen is displayed.
  7. In the Verification Code field, enter the verification code and click Submit.
  8. A message stating that the code has been verified is displayed. Click Continue. The sections comprising of the application form are displayed. If a co-applicant has been added, the respective sections in which the co-applicant’s information is to be captured are enabled.
  1. The applicant information section will open to enter basic information about the applicant.

Applicant Information

In this section enter the information like, salutation, first name, middle name, and last name.

ApplicantClosedAn applicant refers to an individual or a non-individual (organization or trust) who has applied for one or more main lines. Information

Field Name

Description

Salutation

Identify your salutation of applicant.

The options are:

  • Dr
  • Mr
  • Ms
  • Mrs
  • Miss

First Name

Enter your first name.

Middle Name

Enter your middle name. This is an optional field.

Last Name

Enter your last name.
  1. Click Continue to confirm the applicant’s information. If a co-applicant has been added, the screen on which co-applicant’s name is to be defined will be displayed, after which the Property Information section will be displayed.

Property Information

In the property Information screen enter the information like property type, subtype, ownership and address of the property.

Property Information

Field Name

Description

Property Details

Ownership Type

You are required to identify if the property is to be owned jointly or not. This field will be displayed only if you have added a co-applicant in the Loan Requirements page.

The options available for selection are:

  • Single
  • Joint

Owners of the Property

Depending on the option selected in the Ownership Type field, this field will either be a drop-down or a read only field.

If you have selected option Single in the Ownership Type field, this field will be a drop-down which will list down the names of the applicants. You can select either your name or the co-applicant’s name to indicate the owner of the property.

If you have selected the option Joint in the Ownership Type field, this field will be read only which will display the names of both you and your co-applicant, indicating that the property is going to be owned by both.

Type of Property

The type of the property that you are planning to purchase i.e. residential property, commercial property, etc.

Sub-Type

The sub type of the property within the type of property i.e. Property under construction etc.

Purchase Price

Specify the purchase price of the property.

Address of the Property

Country

Specify the country in which the property is located.

Address Line 1 -2

Specify Address details of the property.

City

Specify the city name in which the property is located.

State

Select the state where the property is located.

Zip Code

Specify the zip code of the property.

Is this your primary place of residence ?

Indicates whether the specified property is the primary place of residence.
  1. Click Continue to update the property information. The Funding Information section is displayed.

Funding Information

This section displays the total fees that are applicable on the loan application, the total cost which is the sum of the property purchase price and the fees, as well as any amount that needs to be contributed by you which is the difference between the amount of loan you have requested and the total cost.

You can click on Edit or the Modify option to edit either the property purchase price or the amount of loan you are requesting if the contribution amount is not suitable to you. Once the values displayed are suitable, click on Accept and Continue to proceed to the next step in the application.

Funding Information

Field Name

Description

Property Purchase Price

The purchase price of the property as defined by you in the previous section.

Requested Loan Amount

Loan amount requested by you to purchase the property in the requirements section.

Total Fees

It is the total fees to be paid for loan processing.

Lenders Mortgage Insurance

It is the insurance amount applicable against the mortgage loan.

Total Cost

Total cost of the loan that is property purchase price + total fees + lenders mortgage insurance.

Your Contribution

The amount to be contributed by you towards the purchase of the property. This amount is the difference between the total costs to purchase the property and the requested loan amount.
  1. Click Accept to agree with the contribution amount displayed.
    OR
    Click Modify if you wish to get the contribution amount modified. You will need to modify the requested loan amount and/or property purchase price for the contribution amount to change.
  2. Click Save to save the modified loan details.

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 Name

Description

Salutation

Your salutation as captured in the applicant information section.

The options are:

  • Dr
  • Mr
  • Mrs
  • Miss
  • Ms

First Name

Your first name as entered in the Applicant Information section is displayed. You can update this value if you wish to.

Middle Name

Enter your middle name here. If you have already entered your middle name in the Applicant Information section, it will be displayed here. You can update this value if you wish to.

Last Name

Your last name as entered in the Applicant Information section is displayed. You can update this value if you wish to.

Date of Birth

Enter your date of birth.

Gender

Specify your gender.

Marital Status

Select your marital status from the list.

The options are:

  • Married
  • Single
  • Divorced
  • Seperated
  • Widowed
  • De facto
  • Undisclosed

Number of Dependents

Specify number of people dependent on you.

Country of Citizenship

Select the country of which you are a citizen.

Permanent Resident

You are required to identify whether you are a permanent resident.

Country of Residence

This field is enabled only if you have identified that you are not a permanent resident by selecting No in the Permanent Resident field. In this case, you are required to identify the country in which you reside.
  1. Click Continue . The Proof of Identity section is displayed.

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 Name

Description

Identity

Type of Identification

The identification amount that you want to provide as proof of identity.

The identification type could be:

  • Driving License
  • Passport
  • National Identification no
  • Student ID card
  • Tax ID individual etc

ID Number

Enter Identification number corresponding to the identification type.

Expiration Date

Enter the date on which your identification document will expire. This date can be found printed on your identification document. The system will validate if the expiration date has passed or if it is a valid date i.e. not one that is too ahead in the future (the number of years will be defined by the bank) and will display an appropriate error message. In this case, you can either modify the expiration date or select a different ID to submit as proof of identity, one that has a valid expiration date.

Contact Information

In the contact information section enter the contact details including your email address, phone number and current residential address.

You will be required to enter details of your previous residence if you have stayed at your current residence for less than the amount of time required. This amount of time is defined by the bank in terms of years.

Contact Information (Current and Previous Residential Address)

Field Name

Description

Residential Address

Country

Enter the country name in which you reside.

Address 1-2

Enter your Address details.

City

Enter the name of the city in which you reside.

State

Select the state from the list.

Zip Code

Enter your Zip code.

Staying Since

Date since which you have been residing at the current address. If you identify a date that is less than the minimum amount of time required for you to have resided in the current residence, the system will display fields in which you can specify you previous residence address.

Accommodation Type

The type of accommodation in which you reside.

The accommodation types are:

  • Company Provided
  • Inherited
  • Leased
  • Owned
  • Parental
  • Rented
  • Others

Previous Residential Address

Country

Select the country where you resided previously.

Address Line 1-2

Enter address details of your previous residence.

City

The city in which you resided previously.

State

The state in which you resided previously.

Zip Code

Enter the zip code where you resided previously.

Accommodation Type

The type of accommodation in which you resided previously.

The accommodation types are:

  • Company Provided
  • Inherited
  • Leased
  • Owned
  • Parental
  • Rented
  • Others

Email

Email

Enter your email address.

Please confirm your email ID

Re-enter your email ID to confirm the same.

Phone Number

Phone Type

Select the phone number type that you want to define as primary contact number.

The options are:

  • Personal Mobile
  • Work Mobile
  • Home Phone
  • Work Phone

Primary Phone Number

Enter your phone number corresponding to the selected phone type.

Add an alternate phone number

You can select Yes if you want to add an alternate phone number. It is not mandatory to add an alternate phone number.

Phone Type

Type of phone number that is being added as an alternate number.

The options are:

  • Personal Mobile
  • Work Mobile
  • Home Phone
  • Work Phone

This field is displayed if you select Yes in the Add an alternate phone number field.

Alternate Phone Number

Alternate phone other than primary phone number.

Phone number corresponding to the selected alternate phone type.

Default as that of Primary Applicant (Co-Applicant)

Indicates whether address details of co-applicant is same as primary applicant.

This field appears if you Yes in the Is there a co-applicant field in the loan requirement screen.

Landlord Information

The section appears if you select Rented or Leased option in the Accommodation Type list.

Contact Information (Landlord Details)

Field Name

Description

Landlord's Full Name

Specify full name of the landlord.

Country

Select the country name where the landlord resides.

Address Line 1-2

Specify address details of the landlord.

City

Specify the city name where the landlord resides.

State

Select the state name where the landlord resides.

Zip Code

Specify the zip code where the landlord resides.

Mobile Number

Specify the mobile number of the landlord.
  1. Click Continue to save the contact information. The Employment Information section is displayed.

Employment Information

In this section enter details of your employment over a defined period starting with your current primary employment. The details required are type of employment, employment status, date on which specific employment was started and if you are salaried or self-employed, the company or employer name. If the amount of time at which you have been employed in your current employment is less than the required amount, the system will display fields in which you can enter details of previous employment.

Employment Information

Field Name

Description

Employment Type

The type of your current primary employment.

The types are:

  • Salaried
  • Self Employed
  • Others

Employment Status

The status of your employment. The options in this field will depend on your selection as employment type.

The options are:

  • Part Time
  • Full Time

Employer Name

The name of the company or firm in which you are employed.

Start Date

Enter the date on which you started at current employment.

Designation

Enter your designation with the current employer.

Gross Annual Salary

Enter your gross annual salary with the current employer.

Country

Select the country in which you are currently employed.

Address Line 1-2

Enter your employer’s address.

City

Enter the city in which you are currently employed.

State

Select the state name where you are currently employed.

Zip Code

Specify the zip code of the location where you are currently employed.
  1. Click Add to update the employment information.
    OR
    You can lick Edit to edit the employment information.
  2. Click Add to add more than one employment information.
    OR
    Click Continue to proceed with the application process.
  1. The Financial Profile screen appears with Income, Expense, Asset, and Liability sections.

Financial Profile

  1. Enter the appropriate details in the relevant sections.

Income Information

In this section enter details of all income that you want to be considered to be the basis on which you will repay the loan. You can add multiple records of income up to a defined limit. Click the Add Another Income Icon icon to add additional income records and the Delete Record icon against a specific record to delete it.

Field Name

Description

Primary Income

Income Type

The source of your primary income. Examples of source of income can be rental income, salary, etc.

Gross Income

Gross amount of income earned.

Net Income

Net amount of income. The net income field will be defaulted with the gross income amount entered and can be changed.

Frequency

The frequency at which you earn the particular income. Examples of income frequency can be Monthly, Yearly, etc.
  1. Click Save to update the income details.
  2. Click Continue to proceed with the expense details section.
    OR
    Click Add Another Income Icon to add another income record.

Expense Information

In this section enter details of all expenses you incur on a regular basis. You can add multiple expense records up to a defined limit. Click the Add Another Income Icon icon to add additional expense records and the Delete Record icon against a specific record to delete it.

Field Name

Description

Primary Expense

Type of Expense

The type of expense. Example - household, school fees, etc.

Total Expense Value

The total value of expenditure against the specific type identified.

Frequency of Expense

The frequency at which you incur the specific expense. By default the value Monthly will be selected and can be changed.
  1. Click Save to update the expense details.
  2. Click Continue to proceed with the asset details section.
    OR
    Click Add Another Income Icon to add another expense record.

Asset Information

In this section enter details of all assets owned by you. You can add multiple asset records up to a defined limit. Click the Add Another Income Icon icon to add additional asset records and the Delete Record icon against a specific record to delete it.

Field Name

Description

Primary Assets

Type of Asset

Type of asset owned by you. Examples of assets are – Home, Savings account with bank, etc.

Value

The market value of the asset.
  1. Click Save .
  2. Click Continue to proceed with the liability details section.
    OR
    Click Add Another Income Icon to add another asset record.

Liability Information

In this section enter details of all your liabilities. You can add multiple records up to a defined limit. Click the Add Another Income Icon icon to add additional records and the Delete Record icon against a specific record to delete it.

Field Name

Description

Primary Liability

Type of Liability

Select the type of liability you want to define. The liability type could be, home loan, personal loan, credit card, and others.

Original Value

Identify the original value of the liability.

Outstanding Value ($)

Enter the current outstanding value of the liability.
  1. Click Save.
    OR
    Click Add Another Income Icon to add another liability record.
  2. Once the asset, liability, income, and expense details are entered click Continue.
  3. Click Continue to proceed with the application process.

This section displays all the product offers applicable to you. You can select any one offer that best suits your needs.

  1. Select a suitable offer.
  2. Click Continue.
  3. Click Review and Submit. The review screen is displayed.

It will display all the information you have entered in the application. You can verify that all the information provided by you is correct and make any changes if required.

  1. Click Edit against any section if you wish to edit any information that is part of that section.
  2. Once the details are edited click Continue.
  3. The review and submit screen appears. Click Submit.
  4. The screen confirming application submission will be displayed which will contain the application reference number, decision outcome and any additional steps that might need to be undertaken by you or the bank.

The confirmation page is displayed once you have submitted your application. This page displays the current status of the application along with details of any further steps that might be required to be taken. The application reference number, by which you can track the status of your application, is also displayed on this page. Additionally, the options to register (if you are a new customer and have not yet registered with the bank) and to track the application are also provided on this page.

Register User

Register Applicant

Field Name

Description

Define Login Credentials

Enter the email ID with which you would like to register.

Email

Enter the email ID with which you would like to register.

Confirm Email

To confirm the email ID re-enter the email ID entered in the Email field.

Verify

Click on this link to verify the email ID entered. A unique security code will be sent to the email address defined and a pop up window will be opened in which you can verify the email ID by entering the security code in the specified field.

Password

Enter a password to be used for the purpose of registration. You will be required to enter this password when you log-in to the system in the future.

Confirm Password

To confirm the password re-enter the password entered in the Password field.

Set Security Questions

Skip set up of security questions?

Through this option, you can opt to skip setting up security questions at the time or registration.

The options are:

  • Yes
  • No

By default the option No will be selected and the security question and answer fields will be displayed. If you select the option Yes, identifying that you wish to skip set up of security questions, the security question and answer fields will be disabled and hidden.

Security Question

Select a question to be assigned as a security question.

The security questions will be numbered, e.g. Security Question 1, Security Question 2 and so on. The number of security questions and answers available will be dependent on the number configured by the bank administrator.

Answer

Specify an answer for the selected security question.

The fields in which you can specify answers to selected security questions will be displayed below each security question and will be numbered, e.g. Answer 1, Answer 2 and so on.

Terms and Conditions

I have read, fully understood and agreed with the terms and conditions

Select this checkbox to acknowledge agreement to the terms and conditions of registration for online banking access.

Terms and Conditions Link

Click this link to view the terms and conditions.

To register

Field Name

Description

Verification Code

Enter the security code sent to the email ID you have defined in the registration screen.

Register Applicant Confirmation

Field Name

Description

Email

Specify the email ID of the co-applicant for registration. This field will be displayed only if the co-applicant involved in the application is not registered with the bank.

Cancel an Application

The option to cancel is provided throughout the application and you can opt to cancel the application at any step.

To cancel an application

Cancel Application

Field Name

Description

Reason for Cancelling

Indicate the reason for which you are cancelling the application. This is an optional step.

The cancellation reason could be:

  • Difficulty in completing the form
  • Insufficient time
  • Need more product details
  • Incorrect product selection
  • Others

Please Specify

This field is displayed if you have selected the option Others as Reason for Cancelling.

Specify the reason for which you are cancelling the application.

Save for Later

There are two scenarios in this case:

All saved applications will be available in the app tracker under the In Draft tab. You can select any application to resume the application submission process.

To save an application

Save and Complete Later

Field Name

Description

Email

Enter the email ID with which you would like to register.

Confirm Email

To confirm the email ID re-enter the email ID entered in the Email field.

Verify

Click on this link to verify the email ID entered. A unique security code will be sent to the email address defined and a pop up window will be opened in which you can verify the email ID by entering the security code in the specified field.

Refer the Verify sub section under section Register User for further information on verification.

Password

Enter a password to be used for the purpose of registration. You will be required to enter this password when you login to the system in the future.

Confirm Password

To confirm the password re-enter the password entered in the Password field.

Set Security Questions

Skip set up of security questions?

Through this option, you can opt to skip setting up security questions at the time or registration.

The options are:

  • Yes
  • No

By default the option No will be selected and the security question and answer fields will be displayed. If you select the option Yes, identifying that you wish to skip set up of security questions, the security question and answer fields will be disabled and hidden.

Security Question

Select a question to be assigned as a security question.

The security questions will be numbered, e.g. Security Question 1, Security Question 2 and so on. The number of security questions and answers available will be dependent on the number configured by the bank administrator.

Answer

Specify an answer for the selected security question.

The fields in which you can specify answers to selected security questions will be displayed below each security question and will be numbered, e.g. Answer 1, Answer 2 and so on.

Terms and Conditions

I have read, fully understood and agreed with the terms and conditions

Select this checkbox to acknowledge agreement to the terms and conditions of registration for online banking access.

Terms and Conditions Link

Click this link to view the terms and conditions.

The following steps are applicable for cases wherein the applicant is not a registered user.

Field Name

Description

Email

Specify the email ID of the co-applicant for registration. This field will be displayed only if the co-applicant involved in the application is not registered with the bank.

Existing User

An application form for an existing user will differ from that of one being initiated by a new/unregistered user. If you are applying for a In principle approval loan as an existing user, once you login to the system after having entered your login credentials, the application form will be displayed with all your personal details pre-populated in the respective fields and sections. You will, hence, be required to only specify details pertaining to the loan. The sections that will be pre-populated with your information are Primary Information, Proof of Identity, Contact Information, Employment Information and Financial Information including Income, Expenses, Assets and Liabilities.

Application Tracker

The Application Tracker enables you to view the progress of submitted applications and also to retrieve and complete applications that have been saved. Through the application tracker you can perform the following actions:

To track an application

Submitted Application

Field Name

Description

Loan Offer Name

The name of the offer for which the application has been made.

Application ID

The application reference number as generated by the bank at the time the application was submitted.

Progress Bar

The current status of the application will be displayed graphically with the help of a progress bar.

Loan Amount

The requested loan amount.

Applicant Name

The names of both the primary and co-applicant will be displayed here. If no co-applicant has been added, only the primary applicant’s name will be displayed.

Submitted On

The date on which the application was submitted.

Status

The current status of the application.

Field Name

Description

Loan Offer Name

The name of the offer for which the application has been made.

Application ID

The application reference number as generated by the bank at the time the application was submitted.

Progress Bar

The current status of the application will be displayed graphically with the help of a progress bar.

Loan Amount

The requested loan amount.

Applicant Name

The names of both the primary and co-applicant will be displayed here. If no co-applicant has been added, only the primary applicant’s name will be displayed.

Submitted On

The date on which the application was submitted.

Tenure

The term of the loan.

Application Summary

Field Name

Description

Application Summary

Applicant Name

The names of the applicants will be displayed here.

Purpose

The purpose for which the loan was applied.

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.

Status History

This section displays the status history of the loan application i.e. the various stages through which the loan application has gone along with the current status.

Field Name

Description

Status History

State

The status of the application.

Remarks

Displays the remarks, if any.

Acted By

The User ID of the person that updated the status of the application.

Updated On

The date on which the specific status was updated.

Offer / Term Sheet

As part of this section, there will be term sheet available for the applicant to view and download.

Field Name

Description

Term Sheet

Displays the generated term sheet for In Principle Approval application.

FAQs

ClosedI 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.

ClosedCan 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.

ClosedWhy am I required to specify whether I am a first time home buyer or not, in the application?

This information may be required by the bank to decide on the subsidy, if any, granted by the government for first time home buyers.

ClosedDoes 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.

ClosedWhy 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.

ClosedMy 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.

ClosedThe 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.

ClosedWhy 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.

ClosedI 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.

ClosedCan 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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