EXPLORE

2.11 Do I need to declare any discounts, rebates or benefits received for purchasing and financing a residential property during loan application?

Yes, it is a banking mandatory requirement to declare.

2.12 Can I choose my own bankers if I apply through IQrate APP?

No, you can only choose to work with IQrate’s partnered bankers reflected in the APP.

2.13 How do I know the status of the loan?

If you are applying loan for yourself, you may check with the banker directly. If you are applying loan for others, you may check with the loan applicant. After IQrate has submitted the application, the banker will get in touch with the loan applicant for any additional information/documents needed for

2.14 How do I know if the loan is approved?

Once the loan is approved, the banker will inform the loan applicant.

2.15 How long will a loan be approved?

It will typically take between 3-7 working days. However, do expect longer waiting time during festive period/holidays or when the banks are experiencing high volumes.

2.16 What happens if a loan application is rejected?

The banker will inform the loan applicant if the loan is rejected.

2.17 Can I appoint my own law firm?

Yes. However, please check with the banker if the law firm is a working partner of the bank which the letter of offer is signed. Additional charges may apply if the law firm is not a working partner of the respective bank.

2.18 What happens after the loan applicant has signed the bank’s letter of offer?

Please remind the loan applicant to pass you a copy of the bank’s letter of offer so that you can submit via the IQrate App to claim your cash rewards.

2.19 Do the documents remain in the APP perpetually?

All documents in the APP will be removed after 1 month, except signed bank’s letter of offer.