AUTO LOAN APPLICATION

An auto or vehicle loan is a personal loan taken to purchase a new or used vehicle. In an auto loan, the vehicle being purchased is considered as the collateral on the loan.

Following are the steps involved in the loan application cycle:

• Loan Requirement: You can specify the amount to be borrowed, tenure, repayment frequency, and purpose of the loan.
• Orientation: It is the summary view of the loan application form which describes the required data to be entered and approximate time required to process the application form.
• Confirmation: It is the agreement before starting the loan application process.
• Borrowing Power: You have to specify the income and expense details, depending on which your borrowing capacity is determined.
• Application: You have to specify personal, professional and financial details of all applicants, as well as vehicle details.
• Offers: It displays multiple loan offers with an option to select any offer of choice.
• Review: Summary of the loan application after selecting an offer and allows to edit details specific to any section.
• Approval: Appears once the loan application is submitted successfully.

How to reach here:

Dashboard > New Auto Loan

To apply for loan:

1. From the product selection screen, select the appropriate auto loan product. The Loan Requirement screen appears.

2. In the Loan Amount field, enter the loan amount.
3. From the Purpose list, select the purpose of the loan.
4. From the Tenure Years list, select the loan tenure in years.
5. From the Months list, select the loan tenure in number of months.
6. From the Repayment Frequency list, select the loan repayment frequency.
7. From the Co-applicant list, select the number of co-applicants.
8. If you select one or more than one co-applicant, from the Co-applicant 1 relationship list, select the relationship with the primary applicant.
9. To accept the terms and conditions, select I accept the Terms and Conditions check box.

Field Description

Field Name	Description
Help us understand your loan requirements
Loan Amount	Loan amount the account holder would like to borrow.
Purpose	Purpose of the loan.
Tenure Years	Tenure of loan in terms of years to repay the loan amount.
Tenure Months	Tenure of loan in terms of months to repay the loan amount.
Repayment Frequency	Frequency at which the loan is to be repaid.
Co-applicant	Number of co-applicants involved in the loan application.
Co-applicant relationship	RelationshipRelationship signifies the relationship between parties and accounts whenever the relationship is mapped to account. of each co-applicant with the primary account holder.
I accept the Terms and Conditions	Accepting the terms and conditions of the bank.

10. Click Apply.
    OR
    Click Cancel to close the application.
11. Click I am Ready.
12. The loan requirement confirmation screen appears. Click Confirm.
    OR
    Click Edit to modify the loan requirement.
13. The Income and Expense Information screen appears. For more information on income and expense click here.
14. Once you enter the income, expense, and primary information, click Submit.
    OR
    Click Login to proceed with the existing user credentials.
15. Loan application details with number of applicants with their income and expense details, loan amount and tenure appears. Click Submit.
16. The Identity, Contact, Occupation, Assets, Liability, and Collateral Information section appears. For more information click here.
17. Click Submit.
18. The Review screen appears. Verify the details and click Submit. The submission approved message appears with the submission ID.
    OR
    Click to edit the information.
19. Click Track Application to track the application progress.

9. Home

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