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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.

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