Branch Based HL Program

HL Sourcing by Gold Loan Branches

Product Features
Metric

Purpose of Loan
Loan Amount

Borrower

Co-borrower

Age

Bureau Score

LTV

MORTGAGE Housing loans given for purchase of house, flat, apartment, bungalow or row house Purchase of under construction property Self-construction loans Refinance of HL purchase (if done within last 6 months) Balance transfer of existing Home Loan INR 5 Lacs INR 25 Lacs Salaried Individuals Govt/PSU (Employees of Central & State govt, UPSC services, PSU employees, Government school & Municipal Corporations) Corporate salaried (Fortune 500, Multi national companies, Listed companies & IIFL group employees) Others: Employees of companies other than those listed above whose PF is getting deducted For married individuals spouse must be a co-borrower For unmarried borrowers either of the parents must be a co-borrower All property owners must be co-borrowers All persons whose income has been considered must be on the loan structure (Only salary income can be clubbed for this rule) Borrower age: Minimum: 23years on loan application Maximum: 65 years on loan maturity (restricted to the age of retirement) Co-borrowers maximum age: For applicants whose income has been considered: 65 years For applicants whose income has not been considered: 75 years Min. 650 (Applicable for all borrowers & Co-borrower) Cases with score of 0 or -1 for all applicants/co-applicants can be considered subject to deviation approval from National Underwriting Head/Policy Head Upto 80% of market value or 130% of ATS (Agreement To Sell)(90% of ATS+40% of ATS as value of ameneties) Incase of self construction loans LTV will be lower of 80% of market value or 90% of architects estimate duly vetted by IIFL valuers

Product Features (Contd.)

Metric Tenor Experience Min. Income DBR (Debt Burden Ratio) Mortgage Type Collateral Insurance Property Age Repayment Type Rate Of Interest Processing Fees Application Fees Pre-payment Charges MORTGAGE Upto 240 Months 2 years work experience INR 1 Lac p.a. (after tax) Co-applicant salary income can be clubbed to arrive at min. income Upto 55% of Gross Salary Equitable mortgage Mandatory. IIFL offers a single premium product in collaboration with ICICI Lombard. Borrowers can avail the same either from IIFL or can insure directly. Proof of insurance if done from outside mandatory prior to disbursal Total age of property + loan tenure should not exceed 70 years Residual age of property should be atleast 10 years (on loan maturity) Monthly reducing - Full Amortization. EMI based repayment either through ECS or PDCs 10.99% floating Upto 1% of loan amount Rs. 999 No prepayment charges shall be payable for partial or full prepayments

Loans to be booked on the HFC system, and identified as GLBS GL Branch Sourcing under the section: Sourcing Channel, field: Type

Product Features Builder Projects UnderConstruction and Self Construction Loans

Metric MORTGAGE Project Approval to be obtained from National Technical Manager and the National Underwriting Head Project Approval for builder under construction loans Borrower to be given the option to pay Pre-EMI till the time full disbursal is made, post which full EMI Pre EMI payment should be made Disbursement will be done in part disbursals based on the stage of construction of the property. Disbursal Borrowers contribution proof will be checked prior to each disbursal. For CAT A builders, disbursement will be as per builder schedule; for self construction loans the following table will be followed: Level of Completion %age to be disbursed 15% 25% 40% 60% 80% Full All disbursals will be preceded by a valuers certificate on construction progress

Documentation
Documents Application Form along with latest photograph

Identity Proof, Address Proof & DOB Proof

PAN Number Latest Telephone Bill 2 years ITR/Form 16, 3 months Salary Slips & 6 months Bank Statements Application Fees Cheque Property Papers & Approved Sanction Plan, Architects Estimate for Self-Construction, Extension/Renovation Loans ECS (Security PDCs)

Verifications Borrower, Collateral and Legal

Borrower Verification Telephonic Verification De-duplication Credit Bureau Check Contact Point Verification (CPV) Fraud check (of documents only) Personal Discussion Collateral and Legal Verifications Collateral Valuation Employee Collateral Visit Legal/Title Search

Restricted Profiles
Public Figures: Political party workers, politicians Police personnel Film/TV industry - Film stars, TV stars, Producers etc. Lower ranks can be considered as per Area Head discretion Print & News Media: Press reporters, News reporters, Editors, Journalists Collection agency employees, Recovery agency employees, Verification agency employees DSA employees Prosecutors esp. practicing Criminal Law. Other lawyers such as Tax Lawyers, Civil Lawyers etc can be considered as per Area Head discretion NGO employees Employed with Money lenders, Lottery agencies, Chit funds, Nidhi companies & private financiers/cooperatives Security services employees Employees of bar & wine shops Class IV employees Manpower supply agency employees Drivers including those employed privately or by state corporations Any other profile as per location specific experience/feedback

Process Flow
Step A
Source application Basic Eligibility Check Filling in the Application Form Collection of Key documents (KYC, Financial etc) Provide application acknowledgement

Step B

Log in app & generate unique no. CPV & Fraud check

Scan of docs on system*

Dedupe

CIBIL

Telephonic Verification

In-principle loan sanction approval

Valuation + Title search Documentation Execution & Completion

Personal Discussion

Employee Collateral Visit

CAM preparation

Final Approval

Step C

File processing

Resolve queries with Gold loan branch & Credit

Loan disbursal

Central post audit of all cases

Step D

Gold Loan branch functions

Storage EMI presentation Credit hub functions

Step E

Awareness calling

Bounce Calling

Collections

Central OPS functions

Audit functions

Mandatory docs that need to be scanned across for file processing are App form, ID/ DOB/Resi Proof, ITR/Form 16, Bank statements and Salary slips

ANNEXURE

Documentation Details
Documents Remarks Application Form along Mandatorily required for borrower & all co-borrowers with latest photograph ID proof required for borrower & all co-borrowers Valid documents for Identity are: Passport Driving License Voters ID PAN Card Govt. Organization/PSU ID Card Address proof required for borrower & all co-borrowers To be collected for both current residence & current office Valid documents for Residence: Electricity Bill, Telephone (including post-paid), Gas Bills (Not more than 90 days old) Society charges bills (Not more than 90 days old) Residence ownership documents (Sale Deed) Passport Bank account statements (Salary credit should be visible in these statements) Credit card statements *All these documents can be in the name of spouse or parents provided supported by relationship proof Mandatorily required for borrower & all co-borrowers Valid documents are: PAN Card Passport Drivers License Birth Certificate Class X Board Certificate Life Insurance Policy Employee Identification Card Armed Forces card

Identity Proof

Address Proof

Date Of Birth

Documentation Details
Documents PAN Number Latest Telephone Bill ITR/Form 16 Salary Slips Bank Statements Remarks Required for borrower & all co-borrowers Mandatory either residence or office Required for last 2 years Latest 3 months salary slips required Latest 6 months bank statements required

Application Fees Cheque Mandatory Property Papers Property papers photocopy incase of repurchase (Previous property back chain & Agreement to sell)

Self Construction Loans Architects estimate mandatory Approved Sanction Plans Approved sanction plans required in all cases where property is 10 years old For older properties customer undertaking mandatory 3*3 EMI 3 EMI cheques 1 Principal value cheque 1 First EMI cheque 1 Cancelled cheque

ECS (Security PDCs)