How Will You Get a Loan From a Bank

Makhluk By Makhluk, 7th May 2014 | Follow this author | RSS Feed | Short URL http://nut.bz/3_09w0zk/
Posted in Wikinut>Money>Loans

When any customer face fund crisis to their business he intend to have the loan from a bank. First he opens a bank account to make a relationship with each others.Make a transaction with that account.

Step to get the loan from a bank

Step to get the loan from a bank

Step one:
To open a current or business account with any scheduled bank of country. To open the account the customer have to fill up the respective banks printed account opening form.He has to submit the following documents:

a) Valid trade license
b) National ID Card
c) Voter ID
d) Driving license (Photo copy)
e) Member Certificate of respective business local arena
f) TIN certificate
g) Import registration Certificate (IRC)
h) Export registration Certificate(ERC)
i) Photo copy of passport
j) Two copy passport size photograph

Step two:
After that he has to submit an application for a loan on the customer own head pad with last three years balance sheet with profit loss account.

Step three:
After getting all above documents if banker satisfy he told to his customer to fillup the CIB inquiry form to collect the CIB information from the central bank of the country.

Step four:
And then the banker will collect the collateral security i.e land. Send the all documents to the panel lawyer for opinion.


Step five:
After getting the CIB if the banker is satisfied, he will prepare a proposal to head office
by the information of the client.

Step Six:
If the head office satisfied the all information of the customer they send a bank official to visit the security of the customer and submit a report to head office. After getting the report the head office management represent the proposal to the executive for sanction the loan.

If they are agreed they send a sanction letter to the respective branch of the bank. Accordingly the bank branch officials send a sanctioned letter to their customer. If the customer satisfy the terms and condition of the sanction letter they will accept the sanction letter and submit to the respective branch.And he will be able to get the loan from that bank.




Step seven:
After that banker send to all original documents of the customer to the their enlisted panel lawyer to
justify the genuineness of the submitting all documents to minimize the risk of the respective bank
branch,Accordingly the panel lawyer will go to the land office to genuineness of the land from the land
office of that area.If the panel lawyer is satisfied he inform the credit in-charge that it is risk free for
obtaining as collateral security against the sanctioned loan. After that banker will do needful
accomplishment at their end for disbursement the loan amount to customer.

Conclusion

After accepting the customer submitted all original documents to the bank branch.A bank official check all as per terms and condition of the head office. After that the banker informed his investment in charge.Accordingly the in charge ordered his subordinate to make all mortgages formalities with the help of the panel lower,At last, a banker disburse the loan amount to his customer.

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Loan From A Bank

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author avatar Makhluk
Ph.D in International Business

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