Overview
Using the Loan Customer ID Creation API, a client application can create a new Customer ID to apply for a loan with the Bank. Along with stringent document verification process by the banker, this API ensures the following:
1.Receive Loan Application
2.Document Collection
3.Document Verification Process
4.Sanctioning of the Loan
On receiving the loan application, the Bank initiates a document collection and verification process. For this, the bank requires identity proof, address proof, income proof documents and other vital information of the Customer. For verifying the documents provided, verification is done by the customer’s Pan card, Passport and Aadhaar card using online services. An online agreement is then furnished that will have details like the total loan amount, the interest rate and type, the tenure of the loan, charges if any, terms and conditions, and other important information about the loan. Please consider the following field requirements while generating the request message
1.If POA or POI in request message contains AADHA then UID Number is mandatory.
2.If POA or POI in request message contains VTRID (Voter Id) then Vtr_Id_Number is mandatory.
3.If POA or POI in request message contains DL (Driving License) then DL_Id_Number and License_Expiry_Date are mandatory.
4.If POA or POI in request message contains PP(Passport) then PassportNo, Issuedt, ExpDate are mandatory.