This is the first step in the Loan origination process. At this stage, the potential borrower will receive a list of items they need to submit to the lender to get a loan. This may include :
- ID Proof / Address proof: Voter ID, AADHAR, PAN CARD
- Current Employment Information including Salary slip
- Credit Score
- Bank statement & Previous Loan Statement
Once this information is submitted to the lending company, Lender reviews the documents and a pre-approval is made, allowing the borrower to continue in the process to get a loan.