Direct loans are quite different from other direct axis loan loans as it deals with direct cash transfers to borrowers instead of going through a third party such as a bank. The reason why people prefer direct loans is that they can easily pay back the money to the lender and that too in a single check. However, there are some limitations of direct loans. Here’s how to apply.

How to Go About It: First things first, it’s time to create an online direct loan application either by visiting the website or clicking the ?apply now? button. Once this is done, you will get the option to enter the required details like the name of the borrower, his address, contact number, account number and his personal details. You will also get the option to specify the repayment mode direct bank transfer, online direct bank transfer or a combination of both. Once you complete the direct bank transfer form, you are done with the formalities for applying for the direct loans.

Step One: After you have {made|} an application, you will be taken to the page active last checked. On the right {hand|} side of the page click on the link for “Applications”. The resulting page will be divided into various categories, fill in the appropriate fields accordingly. Some of the fields you will have to fill include personal details, educational details, employment details and the kind of property that you are offering for sale. Once you finish with the details, you will be taken to the next step.

Step Two: Now you will be taken to the section of the form where you will be asked to give specific details regarding the amount of money that you are willing to borrow, your repayment capacity and the credit rating of your spouse. For the credit rating, simply choose the positive rating and fill in the details. There is no need to provide any details regarding the negative rating. Similarly, you will have to specify the repayment period and the interest rate in case you have opted for a long-term repayment of the direct axis loans.

Step Three: The last step consists of a brief statement regarding your work history. You can either mention the names of your previous employers or provide the dates of all the jobs held. This information is required because it helps the lender to decide whether you would be a suitable candidate for the direct loan or not. If you are employed and have been working at a specific company for at least two to three years, you can qualify for the direct loan without any kind of special criteria.

Step Four: Your application for a direct loan will be considered incomplete if you fail to furnish the lender with the necessary documents on time. These documents include tax returns, pay slips, latest bank statements, pay cheques and any kind of other important legal or bank related papers. Along with the application, you will be required to submit copies of your I-9 records. These are documents which state the information regarding your financial health. They are mandatory to be submitted along with the application.

Step Five: Once your application has been reviewed and approved, the money shall be deposited into your bank account. It is important to ensure that the loan is not directly transferred into your savings. This is because the interest rates offered are very high and if the loan were directly disbursed to your savings, the amount would be deducted from your savings. Thus, the direct transfer should be only possible if the loan amount is paid directly into your bank account. The lender will make the final decision regarding the payment of the loan once the entire amount has been credited.

Once the entire process has been completed, you will find that your credit rating has gone up and your finances are back on track. Thus, by following this simple but effective procedure, you can get a direct loan and improve your credit rating. What’s more, you can easily obtain a direct loan from many lenders, thereby reducing the pressure of finding a lender.