Timelines For Disposal Of Loan Applications

Timelines For Disposal Of Loan Applications

Category of Advance Loan Application Acknowledgement Time frame within which the application to be disposed off Total time allowed from initial submission up to sanction
    At Branch Level At Corporate Office Level  
Education Loan, Car Loan Acknowledgement for receipt of the application to be given immediately Within 72 hours after submission of all the documents/ completion of all formalities under the delegated powers of the branch. Otherwise, forwarding to Co with all the documents duly verified along with KYC/ Due Diligence, within 48 hours. Query to be raised if required. Within 48 hours after submission of all the documents/ completions of all formalities. If query to be raised within 48 hours from the time receipt of application/ proposal from the branch. 3-5 days
Home Loan/ Loan against property/ Loan under BMB Rent Scheme/ Annapurna Loan and Kitchen Modernisation Loan Acknowledgement for receipt of the application to be given immediately Sanction within 72 hours falling under the delegated powers of the branch after submission of all the documents/ completion of all formalities. In other cases, queries to be raised within 48 hours if required. If sanction falls under CO powers, the proposal along with application within 48 hours with due diligence. Within 72 hours after all the particulars of the loan are received/ completion of all the formalities and sanction falls under AGM/ DGM committee. Otherwise, queries to be raised within 48 Hours of the receipt of the proposal.The time limit of 72 hours includes for proposals cleared in NBG 10-12 days
Micro, Small and Medium enterprises Acknowledgement to be given within 24 hours from the time of receipt of application a)Loans covered under CGGTMSE: For Loans under delegated powers of the branch:
Within 48 hours after receiving all the particulars/ completion of all the formalities if the proposed loan is covered under CGTMSE. Duly sanctioned Process note is to be forwarded to Central Office through mail.
Entry in to the CGTMSE site, within 48 hours from the time of receipt of CGTMSE application duly filled in. Permission to release to be given immediately on confirming the payment of CGTMSE fees by the branch. 5 days
Micro, Small and Medium Enterprises   b) For Loans under the delegated powers of the CO (both CGTMSE and non CGTMSE accounts)
Application to be forwarded to CO within 48 hours after due diligence and verification of all the documents. Otherwise, queries if required to be raised within 48 hours.
For sanction under AGM and DGM committee, sanction within 7 working days after receipt of all the particulars/ Completion of formalities.
This time limit of 7 days includes the proposals cleared in NBG.For queries to be raised, within 48 hours from the time of receipt of application/ proposal from the branch.This time limit of 7 days includes the proposals cleared in NBG.
7-10 days
Large Corporate Proposals and all proposals which are to be placed before NBG 24 hours from the time of receipt of application For forwarding the proposal to put up to NBG, within 48 hours from the period after receiving all the documents/ completion of all the formalities.Otherwise, queries to be raised within 24 hours.
a)To put to NBG committee 3 working days from the date of receipt of full particulars. 5-7 days
b)To raise queries if required to put to NBG max 3 days  
c)To before CMD/ED committee within 10 dasys from the date of approval in NBG 15-20 days
  • Lockers available at our Branches in Mumbai, Raipur, Dehradun, Kanpur, Kolkata, Thiruvananthapuram, Ranchi, Agra, Chennai, Jaipur, Agartala, Alwar, Bengaluru, Chandigarh, Panaji, Gurgaon, Lucknow, Hyderabad, Kochi, Panchkula, Indore, Bhubaneswar, Bhubaneswar, Thane, Najafgarh

  • Lockers available at our Branches in Agartala, Agra, Alwar, Bengaluru, Bhopal, Bhubaneshwar, Chandigarh, Chennai, Coimbatore, Dehradun, Goa, Gurgaon, Hyderabad, Indore