Reasons For Loan Rejection

The loan can be rejected due to following reasons :-

• Previous Loan / Credit cards defaults.
• Low Credit Ratings.
• EMI Bounces.
• Inward & Out ward cheque bounces.
• Untimely Salary Credits.
• Too much loan EMI being serviced currently in lieu of the appraised income, the required loan's EMI exceeding the      Income to Debt Ratio.
• Not getting the sanctioned loan amount.
• Salaried :
• The employing company not meeting with the banks parameters.
• Job hoping, lesser work experience, qualification.
• Business Person :
• Business Profile doesn't fit into the bank's internal policy.
• Less business vintage.
• Residential address on the defaulters list.
• Residence in a negative area.

Home / LAP rejection due to property issue:-

• Illegal property.
• The property in illegal section of the building.
• Property in a old building .
• Dilapidated condition of the building where the property is located
• Documents required establishing the legality of the property not available.
• Some convents in the property agreement restricting the sale /transfer of the property.
• Less valuation of the considered property.
• Loss of Original Documents.
• Property in Negative areas.