Bank loan sometimes can be quite complicated process to some. May I know or get to understand more about the process of getting a bank loan approved...
from what I experienced from previous 2 bank loans I got from CIMB, I only submitted all required documents and the bank loan approved within 5-8 days.
Now that I trying to get another loan, which my commitment is within the budget as per banker's calculation, then banker submit my application. What's next?
Steps:
1. Gather all required docs.
2. Banker pre assessment it for the commitment. if pass, banker submit loan application for applicant.
3. Bank's Credit Management (?) will process it. The decision is on this stage?
4.a. If credit management thinks or suspects not enough proof of documents (this stage FAIL), then ask applicant to submit more documents if any. OR credit management ask banker to pay a visit to physical office location to take some photos. OR etc
4.b. *applicants submit more documents for proof.
5. What else or what's next?
Anyone care to share some knowledges if you're a banker...you dont have to mention your bank name. I just wanna to understand what is the process details like in all possible cases happened. Because sometimes the property booking period cannot drag too long, or else developer will cancel the booking & pass it on to next potential buyer in queue.
Please help.
