Unsecured Loan Document Checklist

Scotia Loan Plan / Auto / Other

Application

 

  • One (1) Valid unexpired national photo identification
  • One (1) valid proof of address (deed, recent utility bill, tax assessment or financial institution/bank statement)
  • Salaried Individuals: Letter of employment and Pay slip(s) showing the most recent full monthly income
  • Commissioned Income: Letter of employment and last 6 months pay slips
  • Self Employed Individuals:
          ·       Business registration / License, and most recent Annual Return (as applicable), and
          ·       Income documents, e.g., Income Tax Returns (last 2 years) or Audited Financial Statements(last 2 years), and six  (6) months bank statements

 

Credit Approval

 

  • Source of downpayment – account statement, letter signed by donor& borrower if a gift
  • Proof of assets in the name of the Borrower: Statements showing investments or bank statements, copy of land title or motor vehicle title, Pension Statements, Last valuation of property
  • Proof of Liabilities in the name of the Borrower: Credit card, Loan or Mortgage statement

 

Additional Credit Approval Documents – Automobile Loans

  • Agreement of Sale or Proforma Invoice  
  • log book (used Auto)
  • Auto appraisal (used Auto

Closing and Disbursement

  • Comprehensive insurance policy assigned in favour of the bank
  • Signed application document
  • Evidence of application processing fees and closing costs(held in account)