Step 1, the borrower applies for a loan from the bank and submits the information needed for the loan;

The second step, the bank accepts the loan and conducts examination and approval to see if it meets the loan conditions;

Step 3: After approval, the borrower

Sign a loan contract with the bank. Contracts include guarantee contracts, mortgage contracts, etc.

Step 4, after signing the contract, go through the mortgage registration procedures;

Step 5, the bank issues loans to borrowers;

Step 6, the borrower repays in full and on time;

Step 7: After the loan is settled, go through the mortgage cancellation procedures.

However, different banks and loans of different nature have different approval time and loan term, which shall be subject to bank regulations!