This topic describes the section where you must provide loan-specific information, including the loan purpose, desired amount, and loan tenure.

Figure 1-10 Personal Loan Requirements

Note:

The fields which are marked as Required are mandatory.

For more information on fields, refer to the field description table.

Table 1-10 Personal Loan Requirements - Field Description

Field Name	Description
Loan Purpose	The purpose for which the loan is being availed. If this field is a dropdown, the options are: Buy new home Construct home Home renovation Other Note: Depending on the maintenance in OBO, this field can be a dropdown or an input field.
Loan Term	The tenure of the loan in terms of years, months, and days. Note: The loan term must be within the minimum and maximum allowed range defined at the product level. The units in which the loan term can be captured will depend on the product maintenance for the same in OBO.
Loan Amount	The loan amount that you would like to borrow. Note: The loan amount must be within the minimum and maximum allowed range defined at the product level.
Interest Rate Type	The type of interest rate to be applied on the loan i.e. fixed or floating. Note: In case only one type of interest rate is defined for the loan product, then this field will be a read only field and the interest rate type applicable will be displayed against it.
Loan Repayment Frequency	Select the frequency from the drop-down list. The options are: Monthly Biweekly

1. From the Loan Purpose list, select the purpose for which the loan is being applied, if the field is a drop-down. If the field is an input field, enter the purpose of the loan.
2. In the Loan Term lists and field, define the term of the loan in years, months and/or days.
3. In the Loan Amount field, enter the loan amount that is to be borrowed.
4. From the Interest Rate Type field, select the type of interest rate you want to be applied on the loan.
5. From the Loan Repayment Frequency field, select the type of frequency you want to be applied on the loan.
6. Select the View Repayment Schedule option to view the loan repayment schedule in a detailed tabular form.
   The Loan Repayment Schedule gets displayed

   Figure 1-11 Loan Repayment Schedule

   
   

   
   Description of "Figure 1-11 Loan Repayment Schedule"

   
   
7. Perform any of the following actions:
   • Click Continue to proceed to the next step in the application, once you have furnished all your financial information in the various sections.
   • Click Back to navigate back to the previous step in the application.
   • Click the Scan QR-code anytime to continue on mobile link to continue the application on mobile or tablet device.
   • Under the kebab menu, perform one of the following actions:
     • Click the Save and Continue Later option to save the application.
     • Click the Continue on Mobile option to continue the application on a mobile device.