How much personal loan do I qualify for?

personal-loan

#1

This question can only be answered once a Bank receives your fully completed loan application. Bank will then review all the supporting documents you provided along with your application (even if you submit your personal loan request through mawazna’s personal loan comparison service ) such as your residential status, your employment status, your monthly income, your current loans (if any), any liabilities etc. They will then forward your complete application to the underwriting team to evaluate your credit worthiness. As the financial services are moving towards digital, this process has also become smooth. Since your credit worthiness can be checked through digital means, your social profile and your online profile etc.

Once underwriting is done, then bank can exactly confirm you the amount they can lend you based on your financial profile. In conventional retail banking, this process takes a few days. However in digital financial services domain, this process takes a few minutes.

Hope this helps.

Team Mawazna