This article outlines how to submit a loan application for your client, including key considerations and supporting document requirements.
Before you begin:
- Ensure that you have completed a NOW Personal Loan rate estimate or NOW Auto Loan rate estimate before submitting a loan application.
- Be aware of the different documentation requirements for Tier 3 and Tier 4 Auto customers and personal loan customers (See Pay Slip and Bank Statement Requirements)
Adding the secured asset details
Applies to secured personal loans and auto loan products
- In the Asset > Vehicle Options section, click Add.
- Select from the drop-down options to enter the vehicle information in the Details section.
- 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. Add the details for the client's income sources, liabilities and living expenses.
Requesting or uploading supporting documents
Documents required will differ based on the loan product and client tiering. Please refer to the Pay Slip and Bank Statement Requirements.
ID verification
5. Click the Request Digital ID Check button. 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
| ➡️ Next Step: Finalising loan settlement |