Free Banking Loan Flow Chart
The Banking Loan Flow Chart outlines the complete procedure followed by a bank in processing loan applications, ensuring every step is properly evaluated before approval. The process begins with checking the applicant’s eligibility. If the applicant meets the basic requirements, the next step is to collect and verify the necessary documents. Verification ensures the accuracy and authenticity of the submitted information. If verification fails, documents are rechecked and undergo a second verification process. Once reviewed, the application proceeds to a final assessment to determine its success. If the review is successful, the loan moves to the approval stage, where the final decision on approval or denial is made. Approved loans proceed to disbursement, while applications that fail verification or approval are marked as denied or unsuccessful. The process concludes with either the end of review for rejected applications or fund release for approved ones, ensuring that all decisions are based on accurate information and proper evaluation.
