Credit counseling involves analyzing a customer's credit needs through a series of questions to understand their financial situation and family obligations. The agent asks about sources of income, expenses, other loans, and intended use of credit to evaluate paying capacity. Multiple options that follow bank policy and fit the customer's ability to repay are discussed. Feedback is taken to ensure the finalized solution meets their needs.
2. Credit Counseling refers to the process of
analyzing the credit need of the customer and
providing him with the correct credit solution.
It involves series of investigative questions.
The end objective of this exercise is to clearly
understand customer’s credit need and give him
the right solution.
3. Understanding the credit need.
Knowing Sources of Earning.
Knowing the Family Background.
Understanding Customer’s Finances.
Understanding use of Credit.
Suggesting the available solutions.
Taking feedback from customer.
Discussing all the possible options.
Finalizing the Solution.
4. The agent has to thouroly understand the
customer’s need of credit.
By asking questions like : Why ? For What ?
How Much ?
5. The agent should ask about customer
sources of earnings i.e Salary, Rent Earnings,
Pensions etc
What are his aggregate sources of Earning.
Know about his fixed expenses.
Analyze his Paying Capacity.
6. Asking the questions like :
◦ How many members are in family ?
◦ Is he only earning person ?
◦ What are Monthly family expenses ?
◦ Any dispute / disengagement with family members ?
These questions will help in understanding the his paying
capacity.
7. Asking the customer regarding his other
finances if any , such as any other loans,
credit limits, non registered borrowings that
he is already take or is planning to take.
How much amount does he has to pay for
those, what the cost of these finances etc.
8. Understanding that ho he customer is going
to use the finances.
Does he needs it in Lumsum or Installments.
9. After analyzing all the situation, now you
have to give him the right solution.
While giving solution you have to follow
Banks credit policy and Customer’s pay back
capacity.
10. After giving solution you have o take
customer feedback, that he is convinced with
the solution or not ?
If not then ask the queries and resolve those.