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

Note:

In case the applicant has initiated the application form after having selected the Apply Now option in the EMI Calculator, the loan term, amount and interest rate type defined in the EMI Calculator will be prepopulated on this screen. The applicant can make changes as desired.

The facility to initiate an application through the EMI calculator screen is available only for the existing customers of the bank.

Figure 1-14 Personal Loan Requirements

Description of "Figure 1-14 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 1-11 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 drop-down 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 loan term's duration depends on the product's maintenance 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 the event that a single type of interest rate is defined for the loan product, this field will be designated as read-only, and the corresponding applicable interest rate type will be presented alongside it.
Loan Repayment Schedule	The type of loan repayment schedule the user wants to opt for. The following options are supported: Standard – Regular equated monthly instalments to repay the loan. Personalized – A GenAI based intelligent loan repayment schedule in which the instalment amount is adjusted as per the expense predicted for a given month. If the expense is predicted to be high, the EMI will be lower and vice versa. Note: If the applicant opts for personalized loan repayment schedule, they will be required to upload past savings or checking account bank statements of a period defined by the bank.

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. Select the type of loan repayment schedule.
   Select either standard of personalized loan repayment schedule.
6. User needs to upload their bank account statements of last 1 to 3 years to avail the personalized loan repayment schedule facility. The account statement can be from any bank
7. Select the View Repayment Schedule option to view the loan repayment schedule in a detailed tabular form.

   Figure 1-15 Loan Repayment Schedule

   
   

   
   Description of "Figure 1-15 Loan Repayment Schedule"

   
   
8. Perform one of the following actions:
   • Click Continue to proceed to the next step in the application.
   • Click Back to navigate back to the previous step in the application.
   • Click on 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.