Submitting a loan application

This article outlines how to submit a loan application for your client, including key considerations and supporting document requirements.

Adding the secured asset details
Applies to secured personal loans and auto loan products

1. In the Asset > Vehicle Options section, click Add.
2. If no asset is found using the VIN search in the application, use the dropdown menu to change the search method from “Search by VIN” to either “Search Manually” or “Search by Vehicle.”
   If you choose Search Manually, use the dropdown options to select the asset the customer is purchasing.
   If you choose Search by Vehicle, enter the vehicle details and select the correct match from the list.
   
3. Check your commission earnings. For Auto Loans, asset brokers have the option to reduce the interest rate by up to 2% for a reduced commission.

Completing the loan application form

4.  Enter the client’s details across the relevant tabs — Income, Expenses, and Liabilities. Each tab is organised by subject to help you complete the information easily.

Requesting or uploading supporting documents

ID verification

5.  Click the Request Digital ID Check button on the ID Check tab. This will send an SMS and/or email to your client to complete their ID verification using their mobile phone.

Bank statements via illion
Applies to personal loan applicants and auto loans applicants tier 3 and 4

6. Click the Request Bank Statement button. This will send an SMS and/or email to your client to share access to their bank statements using our secure tool: illion Bank Statements.

See Providing bank statements or pay slips

Upload pay slips or bank statements
Applies to auto loans applicants tier 1 and 2

See Uploading PDF documents