Guide · Loan file
Loan file checklist: what a complete file contains before an analyst starts.
Most of the time spent on a loan file is not analysis. It is chasing, renaming and re-keying documents that arrive over email in pieces.
A loan file is the set of documents and data a lender needs to appraise a borrower. The exact list depends on the product and your credit policy, but the categories are broadly the same for business and retail lending in India.
The checklist by category
| Category | Typical items | Check before analysis |
|---|---|---|
| Identity and KYC | KYC of borrower, co-borrowers, guarantors; business registrations | Names and addresses match across documents |
| Banking | Bank statements for the period your policy asks for, all operative accounts | Complete months, no missing pages, every account covered |
| Tax and turnover | GST returns, ITRs, financial statements where applicable | Periods line up with the statements |
| Credit history | Bureau report with consent | Pulled within your policy’s validity window |
| Account-aggregator data | Consented financial data where available | Consent recorded |
| Security | Property or collateral papers, if secured | Owner and address match the application |
| Field verification | Residence or business visit report | Photos and location on file |
Common reasons files stall
- A month of statements missing, found only when the analyst reaches it.
- GST and ITR periods that do not match the banking period.
- Documents arriving on email, WhatsApp and paper with no single place to see what is still pending.
- The field report waiting on a phone for days.
- The same document requested twice because nobody knew it had arrived.
Make the checklist enforce itself
- Publish one checklist per product and share it with the borrower at the start.
- Collect documents on the channel the borrower already uses and tick them off as they land.
- Validate completeness on arrival, not at analysis.
- Start analysis only when the file is complete, and track pending items by owner.
Onboarding and KYC can run ahead of the file; see AutoKYC. Your own credit policy decides the exact document list; confirm it with your credit and compliance teams.
How AutoCredit does it
AutoCredit is built for lenders’ credit and operations teams. Bank statements, GST returns, ITRs and KYC are collected on WhatsApp or a portal; bureau and account-aggregator data is pulled where consent allows. Banking, obligations, FOIR and GST trends are computed the same way for every analyst. The file is placed in your policy bands with deviations flagged, and a credit memo is drafted with every line cited to the document it came from. Field agents file a checklist, photos and GPS from their phone the same day, and the memo updates when the report lands. Credit officers and the committee decide; nothing is sanctioned by a model. The sanction is written to your LOS or LMS through the APIs you open.
Questions
What documents are in a loan file?
Typically KYC, bank statements, GST returns, ITRs or financials, a bureau report, account-aggregator data where available, security papers if secured, and a field verification report. The exact list depends on your credit policy.
Why do loan files take so long to prepare?
Mostly because documents arrive in pieces over email and phone, gaps are found late, and data is re-keyed into spreadsheets by hand.
How many months of bank statements are needed for a loan?
It depends on the lender’s policy and product; check your own credit policy rather than a general rule.
See it on your own data. AutoCredit — The credit memo, drafted and cited. Book a 30-minute working session with an engineer.