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Balance Transfer (BT)

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Lets understand how to initiate and process BT cases

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1. What is Balance Transfer (BT)?
A concept that allows customers to transfer their gold loan from one NBFC to another or from one bank to another. A process of opening a new gold loan account with higher interest rates. A method of converting a gold loan into a personal loan.
2. Which document is essential to understand a customer's present loan details for a balance transfer?
Credit report Pawn ticket Property deed
3. What is included in the customer's undertaking document?
Details of the customer's current employment and salary Customer's consent for the balance transfer and acknowledgment of the terms and conditions Customer's medical history and emergency contact information
4. What should be done before sending the documents for approval in the balance transfer process?
Create a customer ID in the system and process KYC Deposit a down payment Get a signature from the branch manager
5. Who processes the requested amount once the balance transfer is approved?
The branch manager Head office operations team The customer service representative
6. What does "Customer Holding (CH)" mean?
A loan that has been approved and disbursed A temporary loan for immediate use An advance fund created in the system against the customer ID, but the loan is not yet booked
7. How many days are allowed to close all Customer Holding (CH)?
1 Day 3 Days 7 Days
8. What is the next step after the customer visits Augmont branch with released gold?
Reappraise the gold and issue a new loan application Deposit the gold in a safety locker Convert the gold to cash
9. In the BANK DETAILS page, if 'CUSTOMER HOLDING' is showing 1 lakh and the loan amount is 1.1 lakh, how much is available for disbursal?
1 lakh 10,000 1.1 lakh