Receiving an in-principle loan sanction is exciting, but understanding the final onboarding steps ensures a seamless experience.
1. Review the Digital Sanction Letter
Examine the sanctioned loan amount, monthly instalment figure, repayment schedule, and applicable processing charges before signing.
2. Set Up Auto-Debit (e-NACH / e-Mandate)
An electronic mandate authorizes your salary bank account to debit the fixed monthly instalment automatically on the agreed date every month.
3. Direct Fund Disbursement
Following e-mandate authentication, the lender releases approved funds directly to your verified bank account. Keep your transaction reference number for future communication.