How It Works

One Finance was conceptualized by a group of people, all of whom had 10 to 30 years of experience in the financial services industry. They realized that many people are still denied the convenience of approaching banks for loans because they are not aware of where to start and whom to approach, or they are simply intimidated by the prospect of walking into a bank and asking for a loan. One Finance recognized the need for someone to hold the hand of such people and walk them through the loan process. The advantage One Finance has in this role is that it enjoys great working relationships with almost all major banks in the country, and has people in its team all of whom are very well versed in the banking system and know how a loan proposal makes its progress in stages upto final disbursement. One Finance prides itself as a banking intermediary who would be like a trusted advisor and a hands-on helper for someone who needs a loan. From help in understanding the eligibility and the documentary requirements, to providing explanation and information about the interest rates; from help in putting the application together; to submitting the completed documents to the concerned bank, One Finance would be with you from start to finish. All our processes are completely digital and you would not need to visit the bank branch even once. Once you create an account with us and we do your documentation for a particular loan, the process becomes even quicker for any subsequent loans that you might apply for through us. Let us see how exactly One Finance can help you. There are four simple steps involved.

Apply For Loan With Complete Details

You need to log on to our website and choose what type of loan you are seeking. We would ask you for your basic details including type of loan needed, loan amount required, income details, and also identity and location details. As soon as we have your submitted details, we would assign a dedicated loan advisor to you. You would be assigned a unique user id and password with the help of which you can access the status of your application on a real time dashboard.

Documentation and Loan Assessment

Our loan advisors have a deep understanding of the requirements from different banks for every type of loan, and to that they will add their understanding of your exact requirement and constraints once they come to meet you. They will do an initial search for the best options for your specific needs, and let you know the documents required for each of those options. They would also explain the interest calculation process for each of those loans, and let you know your maximum eligible amount based on the documents you have. Finally they will collect the documents from you and help you fill up the application forms as well.

Loan Processing By Banks

The focus now shifts to the banks you have selected to apply to. We would submit your documents to the respective banks along with the application form. Once the application is submitted, our experts would co-ordinate with the respective banks to answer any queries they might have, or submit any additional documents they ask for. If they need any correction on the application form, we would bring it to you and get the required corrections signed by you. We would also carry out the necessary negotiations with the respective banks so that we can get the best terms for you, in terms of loan amount, down payment, rate of interest and processing fees.

Loan Disbursement

Once the banks have appraised your application, we will let you know the results for each bank on your dashboard. For the banks which have not approved or only partially approved your application, we will co-ordinate between you and the banks to see if a solution can still be worked out. For the banks which have approved your application, we will have a final check with you if you are agreeable to their terms, and then advise the bank to disburse the loan. Once that happens, we will also let you know the start date of your repayment EMIs and help you complete the paperwork (like submission of postdated cheques or automatic debit mandates), if any.