16th April Joining:

Joined as an intern in marketing. Introduced to all employees. Desk provided. Computer's password and ID given. Selection confirmation sends to SIP chairperson Mr Debarshee Mukherjee. Basic rules and regulations explained briefly.

Activities:
16 April 2012 22:45

Normal introduction of company is given. Some Rate of interest and EMI chart shown. Calculations regarding Loan amount and EMI explained. Some basic terminologies explained viz , FOIR,LTV. Learned how processing fee is calculated. Learned how many types are our customers. Learned who requires home loans. Learned why they require home loans. Learned who give them HL. Learned why they give them HL.

Learnings:
16 April 2012 22:48

A person can only spend his 50 % of gross salary to his EMI's basic reason behind this is that a person need his 50 % of income in basic expanses like fooding and lodging. Bank can only bear 80% of any property, rest 20 % must be beard by applicant basic reason behind this is that is 20% of applicants money is invested in the property he think upon giving EMI's and complete the loan otherwise he can happily live years and when bank sold the property his 20% money is invested which he cant get back. In most cases customer have money but he can't spent on him since he saved Government Taxes on it. Processing fee calculation :[0.50 % of loan amount ]*0.123 Three types of people need home loans Salaried people , self employed professionals( Doctors , Engineers, CA's etc) , self employed normal people( Businessmen , Shopkeepers). They need home loans either to build own home or to purchase an already home from any builder or real state giant. Banks and NBFC's (Non banking Financial companies) provide them loan. They provide them loan for earning interest.

17th April Activities:

.

Gone for client documentation. Taken his sign on his certificates. Taken a document from him. Learned from employees about property types and its payment modes.

Learnings:
17 April 2012 23:08

Property is of two types one "ready to move on" which is directly sold from builders and another who are sold my already owned owner of particular flat called as RESALE. Payment modes are of three types-Down payment, Flexi, and CLP. Down payment is providing whole amount of the loan immediately to the builder in case of purchase and to applicant in case of construction. Builders prefer this amount more than others since they get whole amount, so they give more discounts on it. Flexi is used when customer want to give money to builder in installments CLP is used when builder agreed to take money in a pre-decided way, such as 5% on completion of fist two floors , then 20 % on next 5 floors and so on.

18th April Activities:

Gone for LOG IN completed files. Gone for a lead. Convinced the client. Documents collected. Learned what the requirements of the documentation of home loan are.

Learnings:
18 April 2012 23:20

Following things are required for the documentation when customer convinced to take loan and ready for documentation. KYC's which are photo , ID proof , address proof, and DOB proof, relationship proof between applicant and co - applicant. Financials which are last three years form. 16, and last three years Income Tax Return, last three months salary slip, and if appointment letter in self employed normal professional cases, and current CTC papers from the company. Banking which are last six months bank statement. Property which includes property papers. Processing fee@ 0.5 % of loan amount *.1236. Last company leaving letter if he switches company in last six months. In case of any existing loan showcasing the current status of required along with 6 months original bank statement of the account from which EMI is going.

19th April Activities:

19 April 2012 22:21

Gone for client documentation.

Learnings:
19 April 2012 23:45

Always match the sign of applicant from all of his documents. Check whether salary slip amount of gross salary and net salary is matching to the banks statement. In case of resale a Registry or Sale deed is required which contain all detail from the first owner of the property to the current applicant. Check whether any significant amount of money the applicant is not sending to any unknown person to bank for any unknown reason. Flat sizes and price per square feet must known to know customer requirement of loan.

20th April Activities:

20 April 2012 22:36

Gone for a client documentation. Gone for a lead. Given required bank papers. Fixed a client meeting tomorrow for further documentation.

Learning's:
20 April 2012 22:04

Never meet a client without proper research. Be prepared for unexpected questions. In case of any previous loan see the status of that loan. Know how much EMI applicant is already giving in his previous loan. Its better to go for a big amount of loan since a 20,00,000 lack loan needs same effort as compared to a 40,00,000 lack loan. Never irritate a client due to asking some stupid requirements which he already know he dont need at all (since at beginning you can be confused in the requirements of a salaries person and an self employed person). Be punctual for documentation, in many cases client have not sufficient time to meet you after the scheduled meeting.

Questions to be asked next day:

20 April 2012 22:07

What are the criteria for calculating how much an applicant can borrow a loan in case of any previous loan? Which bank is better in term of interest for client point of view to suggest him on which bank he could trust upon? How can a client get the information of his eligibility for applying a loan for any desired bank online?

21st April Activities

21 April 2012 20:25

1. Arranged a salaried person's application form.

Learning's
21 April 2012 22:45

In arranging a file, we need to arrange first documents of applicant, then co-applicant. Communication letter and acknowledgement comes always first. In corporate loans we can go for 20% of the total turnover of the company. In corporate loans we see following things: Trading account of the company to see total turnover. Profit and loss account of the company to see how much profit of loss the company is incurring. Balance sheet of the company to see how much working capital it has. If company goes for frequent losses we cant go for a corporate loan. But when we can satisfy bank by giving any particular or specific reason loan could be sanctioned. At last we see working capital of the company to check whether company is demanding for such money it contains a significant amount of the capital or not. If a company is demanding for a loan of 2,00,00,000 and it contains only 2,00,000 as working capital , we cant go for such loan amount.

SUNDAY
22 April 2012 22:55

23rd April Activities

23 April 2012 22:56

Arranged a file of self employed applicant. Gone for an applicant documentation.

Learning's
23 April 2012 22:58

In case of endorsement first buyer who yet not possesses the property can resale that to another person. In such cases we need proper payment papers, registry papers, buyer seller agreement. Demand letters are generated by builders for applicants who can send them to bank and it can endorse money on that. Bank can only endorse such amount of money which it gets through Demand letters. In banking papers we whether applicant is not a bad banker. Applicant known to be as a bad banker if he spent all his earnings every months and he don't save anything. In case he's saving through provident funds or insurance he should mention it in application form. If an applicant needs more loan amount than his eligibility he can make a co applicant and his/her eligibility is now also accountable. If applicants income is not fixed he need to provide whole years salary slip and an average is taken to calculate eligibility. In NRI applicant cases NRO and NRE are needed which tells his international and domestic bank statements. If processing fee cheque got bounce, it called a bad banking behavior and bank create hurdles to issue loan. Some banks dont issue loans on two real brothers property due to assumption of any unexpected dispute.

24th April Activities

24 May 2012 10:48

Official work.

Learning's
24 April 2012 10:54

1. PNB deals 60% in home loans and 40% in loan on property out of its 100 % loans. 2. Down payment funding through PNB Housing is very low. 3. Maximum approved amount though this bank is 10 crore which is much higher comparing various other banks.

25th April

Activities
25 April 2012 10:45

Official work.

Learning's
25 April 2012 10:55

1. They mostly approve CLP payment . 2. In PNB any Repayment more than 6 months is considered as an obligation. 3. In resale cases it is 6 months where as in ready to move cases it is 12 months.

26th April

Activities
26 April 2012 10:45

Official work.

Learning's
26 April 2012 10:45

1. Applicant known to be as a bad banker if he spent all his earnings every months and he don't save anything. 2. In case he's saving through provident funds or insurance he should mention it in application form. 3. If an applicant needs more loan amount than his eligibility he can make a co applicant and his/her eligibility is now also accountable. 4. If applicants income is not fixed he need to provide whole years salary slip and an average is taken to calculate eligibility. 5. In NRI applicant cases NRO and NRE is needed which tells his international and domestic bank statements. 6. If processing fee cheque got bounce, it called a bad banking behavior and bank create hurdles to issue loan. 7. Some banks dont issue loans on two real brothers property due to assumption of any unexpected dispute.

27th April

Activities
27 April 2012 10:46

Official work.

Learning's
27 May 2012 10:56 Calculation of FOIR in terms of incentives:-

1. If it is Performance onus we take 50% of last two years bonus divided by 36. 2. If it is Sales Incentive we take 50% of last four months incentives divided by 4 on continuity basis. 3. If sales incentives are not continuous we can also take average of more than 4 months during which we get at least 4 times bonus.

28th April Activities

28 April 2012 10:46

Official work.

Learning's
28 April 2012 10:57

In self employed professionals :1. In case of Doctors we calculate profit by adding Profit after Taxes , direct remuneration , rents, interest to partners and directors . 2. In some cases of Doctors we can calculate profit on base of whole receipts he provided. 3. Double wammy gives leverage to doctors and self employed non professionals to enjoy FOIR up to 90% if they increase their own contribution. 4. Double wammy means a SEP/SENP's LTV +FOIR must not exceed 140%, they must have in a ratio of 90:50, or 80:60 to make total 140.

29th April Activities

29 April 2012 10:46
th

Official work.

Learning's
29 April 2012 10:57

1. 2. 3. 4. 5.

In some cases of Doctors ,with no deviation PNB sanction 100% of FOIR. LTV is generally 50% or up to 90% in Double Wammy. On Registry 150% value is taken since registry is done . PNB sanction on 150% of registry and 50-90 % LTV whichever is greater. Bank funds upon market value.

30th April Activities

30 April 2012 10:49
th

Official work.

Learning's
30 April 2012 10:58

GROSS TURNOVER PRODUCT

In such cases banks generally see Industry Margin List to understand the margins of some industries. Such as Petrol Pumps has 2% margin on their sales. We generally check whether how much is difference between margins and turnover. As in many cases any Company shows turnover in huge but profits are significantly low . Margins depends upon Companies working policy.

1st May On Leave

01 May 2012 10:52

2nd May Activities

02 May 2012 10:52

Official work.

Learning's
02 May 2012 11:06

1. Profits can presumed and customer can negotiate to banks. 2. PNB do funding on gross turnover along with many others such as HDFC, Reliance capital, Religare etc but PNB do up to 10 crores without capping which is far more than these other banks.

3rd May

Activities
03 May 2012 10:52

Official work.

Learning's
03 May 2012 11:09

1. 2. 3. 4.

Banks check Banking surrogates 1 years average. Its 50% is maximum EMI. In SEP cases Banks consider Saving Accounts also but in SENP cases Current account is must. Maximum two accounts could be clubbed.

4th May

Activities
04 May 2012 10:52

Official work.

Learning's
04 May 2012 11:09

1. Maximum loan amount in gross turnover products is 1 crore which is comparatively far more than other banks who provide this facility. 2. In Banking minimum 36 credits are must for such products of PNB.. 3. Banking should be in normal running condition , no bank can confirm any loan on any freeze account. 4. In Gross Turnover Products Banks subtract all obligations first then we take its 50% unlike other products since to sanction some huge amount.

5th May

Activities
05 May 2012 10:53

Official work.

Learning's
05 May 2012 11:10

LIQUID INCOME PROGRAM

This product is for those who are not strong in both ITR and Banking since they hide many facts in their accounts but they are capable of incurring loan due to their huge liquid income. Based on customers liquid income Banks send their own Chartered accountant's to prepare companies persons financials again on his given data, and Bank believe only on these statements for further funding. New financials must not exceed 150% of old financials otherwise only 150% of old financials are taken.

6th May

Activities
06 May 2012 10:53

Official work.

Learning's
06 May 2012 11:11

Sanction is an offer to applicant. 1. Disbursement is acceptance of a n applicant that he's agree to terms and conditions of bank.

2. Secured loans are those loans who sanctioned on all okay financials and banking without any obligation. 3. At the time of login if last month pay slip is generated it is also required.

7th May

Activities
07 May 2012 10:53

Official work.

Learning's
07 May 2012 11:29

Disbursement documents for builder property. Sanction letter signed by applicant and co applicant . Loan kit. Notarized stamp papers . Original allotment letter. TPA( tri party agreement) PTM (permission to mortgage) PDC ( post dated cheque) Current demand letter. All original receipts. Owner contribution clearance. Builder buyer agreement. ECS. Balance processing fee.

8th May

Activities
8 May 2012 11:49
th

1. Official work.

2. Gone for documentation. 3. Done some work on COSMOS 99 project.

Learning's
10 May 2012 11:50

A DSA should initiate only those leads in which Property is approved from the Bank applicant is applying for. 1. In INDIABULLS Processing fee cheque is cashed even at the point file is gone to bank. 2. While other banks cash processing fee cheque only after Log in.

9th May

Activities
10 May 2012 11:56

Official work . Gone for a documentation.

Learning's
10 May 2012 11:57

Some banks mandate Co-applicant while some not. Co-applicants are basically involved to raise eligibility. For example applicant is salaries for 50,000 , and he need a loan of 37 lac then , he can make his wife or father or mother as a co-applicant if his/her salary is more than 25,000.