Potential borrowers inquire about loan products and eligibility criteria.

Bank/NBFC representatives assess the initial eligibility of the borrower based on factors like credit score, income, and existing liabilities.

Customers provide necessary documents such as identity proof, address proof, income proof, and property documents (if applicable).

Customers fill out loan application forms provided by the bank/NBFC.

The credit team evaluates the application, considering factors like creditworthiness, loan amount, tenure, interest rate, and purpose of the loan.

Risk analysts assess the risk associated with the borrower and the proposed loan.

Based on the appraisal and risk assessment, the loan application is either approved or rejected.

If approved, the loan amount, interest rate, tenure, and other terms are finalized.

Both parties complete the necessary paperwork, including the loan agreement and legal documents.

The sanctioned loan amount is disbursed to the borrower's account or as per the agreed disbursement terms.

Borrowers start repaying the loan through EMIs (Equated Monthly Instalments) or as per the agreed repayment schedule.

The bank/NBFC monitors the loan account regularly for repayments, sends reminders for overdue payments if any, and handles any queries or issues raised by the borrower.