8 Reasons Why Your Loan Gets Rejected

By SiliconIndia   |   Monday, April 22, 2013   |    4 Comments
Print Print Email Email

Bangalore: Today many banks provide different facilities very easily which were once hardly accessible.  No doubt technology and improved banking systems have made life much easier, but at the same time the increasing fraudulent activities have made rules and regulations tough.

Today banks consider a number of things before giving any kind of loan and other services. Some most common issues are your age, income, job stability and most importantly your credit report.

In India, The Credit Information Bureau (CIBIL) is licensed to give credit scores to all the citizens. The scoring ranges between 300 to 900, with 900 being the best score and below 300 which is considered as bad score. Customers with low credit history will be scored 1; and if the credit card is less than 6 months old the score will be as less as 0.

Yahoo has listed out some important aspects that you should take care of before applying for any kind of loan and save it from getting rejected.

1. Don’t Apply For a Loan, If You Were Rejected Before

Do not keep applying for another loan, if your loan has been rejected before. Before you apply for a bank loan in different banks simultaneously, it’s always better to consider the pros and cons of it.

The best way to get loans is by maintaining a good credit score. Make sure that you pay all your debts on time, because if you are maintaining a good credit score it will be recorded in your CIBIL record and it will help you get the loan.

Also Read:
10 Countries with Highest Gold Reserves
Why India Is Loosing FDI Investments?

Write your comment now
Submit Reset
Reader's comments(4)
1: I was going through the same problem few months back , then i consulted credit sudhaar ,they helped me in paying my debt and also counselled me in taking decisions to improve my credit score. I would suggest you to consult them once. You can contact them on 022-67886788 or can visit their websites at
Posted by:sudhir lal - 27 May, 2013
2: I was suffering from credit issues. My credit score was very low, banks were rejecting my loans. I got in contact with Credit Sudhaar, they helped me in improving my Credit Score. You can contact them on 022-67886788 and can visit their websites at
Posted by:sudhir lal - 24 May, 2013
From past years i had problems regarding paying off debts and taxes and also regarding credit cards so through my network i came across this company called Credit Sudhaar which deals with credit health improvement for the customers, so there by i contact them and shared what problem did i have and discussed with them, they helped me out respectfully and solved all my problems that i was facing. I was completely impressed with their feedback.
You can contact them on : 02267886788 or on their website
sudhir lal Replied to: - 25 May, 2013
4: thank you for informing about what to do if our resident is in the defaulters list
Posted by:sowmya - 23 Apr, 2013
Looking For Loan? Let us Help you !!!
Loan Amount
Annual Income
Preferred banks
Type the characters you see in the picture