Loan Counselor job duties include guiding the clients on loan matters. He is required to check the loan eligibility of the perspective clients, suggest them various loan plans as per their requirement, provide them complete information related to the terms and conditions of the loan and handle various other related tasks.
One must have effective communication skills and the ability to explain his point well in order to deal with the clients and provide them the required information. Most firms provide on the job training about the loan products and processes after hiring the candidates.
Loan Counselor Job Duties
- Loan Counselor is required to study all the loan programs being offered by the company.
- Loan Counselor needs to stay updated with the latest information related to the loan products and services of the company.
- Loan Counselor is required to meet the clients and understand their loan requirement.
- Loan Counselor needs to provide information related to the loan products to the clients based on their requirement.
- Loan Counselor is required to take details about the client’s financial status, his income and other related information before offering him a loan deal.
- Loan Counselor needs to guide the clients on selecting the best possible loan product and service as per their need.
- Loan Counselor is required to counsel the loan applicants on the procedure of repayment of loan.
- Loan Counselor is involved in setting up repayment plans. He may be required to modify these plans in certain special cases based on the client’s request.
- Loan Counselor is required to maintain a record of the clients handled by him.
- Loan Counselor needs to work on different software to key in the client data.
- Loan Counselor is required to guide the clients on filling up the application form for loan.
- Loan Counselor needs to review these application forms and ensure that these are filled in completely and accurately.