Ask Experts » Opinion About » Miscellaneous »

What are the formalities to get a loan from a bank?

Date: 15 Jan 2011   Posted By: Gyandeep Kaushal     Group: Opinion About    Category: Miscellaneous   


Suppose there is a noodle hawker and he wants to get a loan so as to run his stall and progress towards opening a restaurant. Then what are the formalities he must complete to get a loan?


Author: Krishna Verma    16 Jan 2011      Member Level: Silver     Points : 2  (Rs 1)    Voting Score: 0

Ther are some necessary formalties for obtaining loan from a bank. These are :-

1. There must be an Bank Account in the same Bank.

2. Bank ask some Guarantor for the loan. It can either a different person or some savings like NSC,KVP etc.

3. Bank also wants proof of the work which will be done with the help of Loan.

Author: Siraj CM    20 Jan 2011      Member Level: Gold     Points : 2  (Rs 2)    Voting Score: 0

Dear Friend,

There are lot of criteria is there for getting loan form Bank,

Option 1:- If you are salaried person then you can get personal loan easily by submitting your salary proof documents.(Loan amount should be based on salary and it will vary Bank wise)

Option 2:- If you are not a salaried person then you can go for Loan against property or Loan against gold.

Note:- My personal suggestion is not go for any kind of loans, better to think about "Chitties".It won't make huge interest and all.

Siraj CM

Post Answer

You must Sign In to post a response.

Post Answer        

Related Questions
  • Return to Question Index
  • Ask Question to Experts

  • Awards & Gifts
    Top Contributors
    TodayLast 7 Daysmore...

    Online Members

    ISC Technologies, Kochi - India. © All Rights Reserved.