Hot Student Stories

How important is loan review to banks?

Timothy Norman

in Student Loans

1 answer

1 answer

Melissa Norris on April 23, 2019

Loan review is very important. Because, in a loan a person borrows money from the bank under the agreement that he would return the money along with the interest. So if he does not pay, then the bank risks losing the money he had lent to that person. So the banks usually examine a loan application deeply before granting a loan to a customer.

Also periodically review the status of each loan with the client to evaluate the chances of the person in default, so that you can plan for unexpected loan defaults.

Add you answer