WHAT YOU NEED TO KNOW ABOUT PERSONAL LOANS - BANKS / OTHER ORGANISATIONS

Follow up:  some organizations call after a scheduled  service to ensure  the  situation was  handled to the    customers satisfaction when  a business  phones  to make sure the  customer is   being  cared for properly, it makes the client feel  important and valued . 

PERSONAL LOAN
This product enables people meet urgent personal financial obligations  such as rents, school fees, vector  expenses , medical bills as well as  insurance loans


WHO QUALIFIES FOR THIS CLASS OF LOAN?
-           Salary  farmers whose salary accounts  must be domiciled with the bank 
-          Customer whose salary  account are not domiciled in the bank must have their salary accounts moved to us  must be confirmed staff
-          Salary account must have  ran for at least  6 months   

WHAT SECURITY IS REQUIRED FOR THIS LOANS
-           Salary  domicilliation
-          Personal  guarantee /employer status inquiry from  the current place of work 
-          Post dated  cheques

WHEN DOES THE LOAN TERMINATE
The loan has a maximum tenor of  12 months repayment shall be monthly   and will be into the  salary account of the obligator 

WHAT ARE THE CHECKLIST FOR SALARY   ACCOUNT HOLDERS?
This means that before the loan can be granted,   the following must be obtained complete transaction application from (To be completed by the applicant)
-           Duly executed letter of salary domiciliation
-          Evidence of annual  congrensation package
-          Attach  6 months  pay slip and six (6) month statement of account  
-          Executed letter of authority to   the bank  to debit customers account for the loan month   repayments
-          Duly   executed offer letter

WHAT DOES THE BRANCH ENJOY
-          Multiple   income streams  float  income, fees and conton accounts
-          Opportunity to sell other products of the bank
-          Account conversion of aspiring  customer   and increase  in customer  base

CONDITIONS PRECEDENT TO DRAWDOWN
-           Account officer /branch manger  must have confirmed applicants place of resident /employment
-          Customer has accepted letter of offer 
-          Ensure that finality has been approved by  authorized   person(s) 
-          Ensure that  domiciliation of salary   is   in place /postal dated cheques  covering the terror of facility (as  applicable ) 
-          Duly executed loan  agreement 
-          Receipt of employer status enquiry form, letter of introduction
-          Receipt of dilly  executed guarantors from supported  with statement of net worth

WHAT STEPS  DO I TAKE   IF MY CUSTOMER REQUEST  FOR  THIS LOAN PRODUCT?
Upon enquiry by customer, account officer holds brief (preliminary ) loan inner view who  the  customer to ascertain
   1.       Whether customer is self  employed  or in  paid employment 
   2.      Source and repayment  capacity
   3.      Purpose  of the personal loan
   4.      Customer  obtains  current account opening  package  (if  not already in account with enterprise bank)  and application form  
   5.      Customer submits completed item  given in together with  6 months statement of accunt and   pay slip  (only for new customers under slary  funded scheme)_
   6.      Upon  completion of the account opening process for new customers only ) the  account officer completes the credit scoring /rating 
   7.      Where the outcome of the credit scoring is goods  approval of  granted by authorized person under   stipulatal condition
   8.      Upon  approval, an offer letter which   status  conditions   precedent as stuted on the approved product paper (including salary domiciliation) is used  
   9.      Account officer /branch manger verifies  the  customer employment status
   10. Customer meets all conditions precedent  to  drawn down
   11. Presult the package  again to the  authorized signatory for disbursement authorization
   12. The bank disburses facility to the customer  by crediting his account
   13. At end of the  month  reduce  dedication are  made and lodged into the facility account  the reduce the  outstanding until facility is fully liquidated

CONCLUSION
This report   deals mainly on what I do in  my student industrial work experience scheme  (SIWES)   this  report is what I  could be able to achieve whin my six month stay in the enterprise bank ltd . it also make me to understand   the  course I am studying   and versatility of the course
The program should by  recommended to all universities   student because his program expose  them to what labour market  is likely to look after graduation and student should take his programme serious because what they achieve there exposes their  ability, knowledge, skills  and comportment 
This scheme is very  interesting and  educative thought   tedious and stressed   but human   beings especially student  must he stretched   and pass many  difficulties before   they achieve their   goals  (success)  there is one popular adage that say nothing good comes easy , his scheme is practical  examples of the adage because enormous   problems are encountered  during this period.
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