When you apply for a loan, you do not receive funds immediately after submitting your documents. The lender takes time to verify the information you provided and check the authenticity of the documents.

1. Learn everything
about the credit
review process

2. Under st anding
credit review
It is the credit appraisal
process under which the
lender analyses your credit
history.
It determines your approval
amount and interest rate.

3. Considerations during the
credit review process

4. Credit report
The lender scrutinizes your previous and current debt
repaymentpatterns.

5. Business capital
The lender reviews your
capital assets and cash
reserves.
It assists your lender in
debt recovery when you
default.

6. Occupat ion
Your employment status, whether
salaried or self-employed, is critical.

7. Debt coverage ratio
Your chances of
approval are slim if the
total EMI exceeds 50% of
your income.

8. Mor t gage
The value and condition of the collateralized assets are
pivotal.

9. Various types of credit
reviews
The first is when you apply
for a new line of credit.
Another is in the middle of
the ongoing debt term.
The last one is self-review.

10. Impact on creditworthiness
Multiple lenders conducting
credit checks negatively
impact your creditworthiness.

11. Credit review is an important
stage in the loan disbursement
process and influences the
approval amount.

12. Thanks
Would Love to hear from you.
Hero FinCorp Limited
09, Basant Lok, Vasant Vihar, New Delhi - 110057
Tel: 18001024145
Email: customer.care@herofincorp.com
Website: https://www.herofincorp.com/
Know More: Learn everything about the credit review process