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    Maneet Anand

    In the olden days, most banks in US and worldwide, would take somewhere around a few days to few weeks to give a loan approval, verifying all the details furnished by the applicant, communicating through letters. Typically, the whole approval process looked like-

    • Loan application
    • Discussion with the lender
    • Background verification by the bank
    • Verifying important documents such as Bank statement, Identity proof and address proof, Salary statement and Income tax statement
    • Signing in of necessary documents
    • Loan sanctioning and disbursement

    However, now a days, with digitization transforming every business activity, banks too have quickened the loan approval process in order to attain a strong foothold in the ever growing retail industry.

    In a very short period, most of the major banks have cut down their turnaround time from a few weeks to as less as one day. Turnaround time may be defined as the time taken by banks to process a loan request.

    At Stilt, we take loan decision in up to 24 hours. The fact that we are not too stuck to credit check, we are able to take quick decisions, believing you for what you are and what you can achieve in future.

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