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متابعة

What are the factors considered for loan sanctioning?

Is it true that whether a person would? • Make a loan repayment on time . • Or would default on payments Depend on4 factors. They are • Number of years at the present address. • Number of years at the present job • Whether the applicant owns his own home • Whether the person has a fixed deposit of saving account with the bank.

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تم إضافة السؤال من قبل Subhranshu Ganguly , Quality Analyst. , WIPRO
تاريخ النشر: 2014/01/04
Subhranshu Ganguly
من قبل Subhranshu Ganguly , Quality Analyst. , WIPRO

In  3rd world countries credit rating agencies for individuals are not that active. Also the credit card culture where you spend by taking a loan is not akin to traditional Indian culture and the habit is picking up slowly. So in the absence of any credit history the above statement holds  good . Also when a bank has a big fixed deposit in the name of the loan applicant the loan can be easily granted. It is common for service holders to take a housing loan even if they have the amount in bank fixed deposit as they do not want to break the FD. And there is a tax rebate on loan taken for house building.

So I fully agree with what Mr Allana has said.

Nadeem Hanif
من قبل Nadeem Hanif , Senior Manager Operations/Head of Operations , Pakistan Industrial and Commercial Leasing Limited

NO, the loan repayment or default never depends on the stated factors. However, it can only depends if the the loaning agency is having lien over his deposits or having mortgage over his home or having standing instructions for deductions from his salary by the employer.

The facyors which can effect a loan transactions are :

Ability to pay

Willingness to pay

We can judge ability to pay through his emplyment records or financial statments of a company wheras willingness can only be judged from his past records pertaining to certian financing or his performance during discharging a current loan.

Mohammed Salim Allana
من قبل Mohammed Salim Allana , Compliance and Assurance Manager , United Arab Bank

Yes, its true, the above factors clearly states your own credit worthiness and financial stability.

mukkur srinivasan varadhan
من قبل mukkur srinivasan varadhan , Chartered Accountant , Chartered Accountant in practice

Yes , these factors are considered.

But masinly, the income of the persons.

His repaying capacity.

collateral security given.

coapplication / guarantee.

Employment proof .

Permanence in the employment.

Divyesh Patel
من قبل Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

 

The most fundamental characteristics most prospective lenders will concentrate on include:

 

  1. your credit history 

  2. your cash flow history and projections for the business

  3. your collateral available to secure the loan

  4. your character

  5. myriad pieces of loan documentation that includes business and personal financial statements, income tax returns, a business plan and that essentially sums up and provides evidence for the first four items listed

 

 

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