Can get the change of life of a loan. But if an application is rejected, dreams are broken. And rejection causes problems in the future. While everyone fears rejection of a credit application, only a few know the conditions under which rejected a request.
Bad Credit Score
Credit Information Bureau of India Limited (Cybil) shares an individual credit data with any financial. These data include information on current and past operations of the loan the borrower. Banks offer all credit information on all borrowers Cybil. This information creates Cybil use notes Cybil Trans Union and Cybil score. Cybil price given score on the assessment of information on the basis of banks. The scores are in the range of 300 to 900. Banks Cybil request a report given once a person applies for a loan.
previous standard
The banks get their own default list and this information available to all branches. This information is analyzed as it is when a person applies for a loan. In addition to the score and credit report provided by Cybil Cybil This information is used.
Loans bail
Sometimes people are a guarantee for family members or friends. And if someone is a guarantee in case of default then it is a problem. The Cybil report the person as a debtor on the loan issue, even if the person was a guarantor. Some think it is not fair, but that's how the system is. So we must be very sure, while his / her name as a guarantee.
too many loans
Although the applicant lend money to banks all existing loans of all banks or NBFCs add. This will come in determining the amount of the applicant into account. Then, the ready-to-income is calculated by the bank before the loan is extended. The sum of the monthly deductions may not exceed 50 per cent does not exceed 70 per cent of travel from home or the gross salary.
Job security
The job of a candidate is an important factor, while borrowing money. If the person changes jobs frequently and the location of a negative point could be when applying for a loan. A stable ROE is very low at the time of loan application. Banks have a positive outlook for people with a stable trajectory. This gives the idea of stability in the life of each bank The loan is granted on the basis of a good employment history.
registration tax
Banks make an overall assessment of a request copies of previous years ITR control profile, including withholding tax / professional paid their assignment in the past. If this information is not made available to cause problems. Therefore, it is always better to get income / 16-16 Certificate Form (A) / Certificate / TDS by the employer.
loan refusal
If an applicant in the past has been rejected, there is bound to be rejected. Therefore, we must be very sure when you apply for a loan. It is best to check Cybil score before applying. This gives a good idea, a chance to get a loan. Pay only if you are sure of getting the loan.
RBI / lists of volunteers failed defaulters
The Reserve Bank of India, RBI maintains a list of defaulters. This list is updated by the demands of the Bank to provide the RBI available. List of voluntary defaulters "is loaded on the website of RBI. intentionally failing "is the list of people who deliberately seek to deceive lenders, despite the adequate net worth.