Article

Loan Officer
November 27 , 2012

Loan officers are representatives of banks and NBFCs that find potential borrowers and assist them in securing loans.

Typical responsibilities of a loan officer include increasing the customer base of the financial institution by attracting clients, evaluating loan requirements, financial stability of the client to see if they qualify for the loan and ensuring ability of repayment. The loan officer assists clients with paperwork and other formalities.

Often a loan officer would have to keep in touch with clients to ensure that the loan amount is not being misused after the loan is sanctioned. They may have to go on field visits to check on the usage of loan amount.

To be successful at the task a loan officer should possess good knowledge about eligibility criteria of clients for loans. Loan officers should also have excellent communication, negotiation and interpretation skills.

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