Banks checks Eligibility of the applicant while giving loans. Eligibility is mainly determined on the basis of income. Need to be Salaried/ Self Employed/ some source of income other factors such as income, age, residence, work experience, repayment capacity, past payment track record and placeof work are also taken into account. Loans are available for any purpose depending on the customer requirement.
For getting a lone, along with application form several documents are to be submitted. The lists of important documents are given below;
Credit analysis is related to the determination of the credit worthiness of an individual before a loan is granted to him. It is different from lending to companies as the amounts involved are much smaller and are given to support a lifestyle as opposed to run a business.
Lending is loaded with risk as the loan may not get repaid. The cost of a bad loan is very high. If a bank lends Rs. 10,000 and the bank’s earning on it is 5%, the bank would need to lend Rs. 2, 00,000 for one year if the loan goes bad.
In addition, in retail credit the risk is that the loan is usually given to an individual and often there is no information on the credit worthiness of the person easily available. In corporate lending one has balance sheets, profit and loss accounts and other data, so in this care it is easy to analyse the credit worthiness.
"The explanation given about PPF is very educative and helpful. But we need to see that the Bankers are also updated on this by the Government authorities or Bank authorities. Some times we find they are not very clear. Regards"
- Srirama Murty Chitturu, 1st June 2009, Monday"PPF IS THE BEST SAVING PLAN FOR FUTURE."
- Yogendra Prasad, 1st June 2009, Monday"I want much more about it?"
- GAURAV GARG, 1st June 2009, Monday"it is good explanation of PPF Plan. Thanks & Regards Archana Sharma"
- Archana Sharma, 2nd June 2009, Tuesday"I am not understand how can any individual person (non-salaried) open a PPF account can you explian. "
- Yogesh Sharma, 2nd June 2009, Tuesday"I am not understand how can any individual person (non-salaried) open a PPF account can you explian. "
- Yogesh Sharma, 2nd June 2009, Tuesday"i need urgent personal loan, i am from delhi can you help me out."
- Md Shadab, 14th December 2012, Friday
