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How much time does banks take to sanction a loan in bangalore?
asked Sep 7, 2017 in Home Loan by Sundar (62 points) | 143 views

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Hello Sundar,

There are two parts to your question; first being the sanctioning of the home loan and the other being the disbursal of the home loan. For sanctioning which is essentially approval of your loan, the bank will be doing a check on your loan repaying capability by going through your salary slips, CIBIL score, previous ITR statements etc. This should typically take 7 working days. Then they also do some basic legal and technical checks on the property you are planing to buy to sanction your loan. This also takes around 7-10 working days but is done in parallel to your income check.
Disbursal means actual transfer of money. This can take place around 3 days after loan has been sanctioned.
answered Sep 9, 2017 by Kris Reddy (49 points)
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