Personal loan is easy to get compared to Home loan.With less paper work, easy documentation its much simpler and quick.Banks check the eligibility of the customer and every bank has its own income & eligibility criteria .If your profile and credit history is in accord with the banks requirement then the loan can be disbursed in 3 days.

Few stages of Personal loan Process
1. Loan Documentation Submission-Check with the Bank that you are applying that you have all the necessary documents required by that particular Bank.Make sure all documents are handed over to your loan officer in one go to avoid delays.Please go through Documentation corner of Deal4loans.com before finalizing the Bank

2.Verification- After submission of documents in bank the Bank field investigator will visit your home and office in to verify whether the information provided by you is correct or not .Please make sure you give your complete address with Landmarks etc so that your verification officer can reach at your address.If the verification officer is not able to locate your office/home your application can be rejected and Once your loan application is rejected you will not be able to apply for the loan in next 6 months.

3.CIBIL Reference Check-Most of the banks refer check customers past credit record from Cibil . This reference check happens both on your any default on loans/Credit Cards and also what your score on your credit profile.If you are not having any Loan /Credit Card then your score is likely to be zero which does not mean that you have a bad score.If your score is satisfactory and no defaults is listed then your chances of the loan approval increases.

4.Documentation verification-Your documents will be checked and verified with originals by the credit officer of the bank and if found okay the approval will be sent to your loan officer

4.After your loan has been approved and all critical conditions are satisfied like after checking CIBIL, your loan closing documents are prepared sent for your signature. These documents consist of the note, deed of trust, and other legal/compliance related documents

5.Once the bank or loan officer is satisfied with documents and if the documents are signed properly ,loan officer will approve your loan and disbursed the amount through cheque or DD and you will get a loan.

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