MUST READ: Know These 14 Reasons Why Your Bank Loan Application Is Denied!


We usually turn to banks to borrow money because our extra cash is not enough to buy a home, a car or begins with a business. However, not all of us are qualified to apply for a bank loan for some reasons. The question is, have you wondered why your loan application gets denied even though you submitted all the requirements asked by the bank?


In this situation, banks are not to reveal the reasons of denial and they have to verify your information to other banks if you have a delinquent one.

Below are the usual reasons why your bank declines you to apply for a loan: 1. You do not have a job.
2. Your earning is not enough
3. You are not yet regularized in the company.
4. Years of stay in your company is not enough.
5. You always switch one company from another.
6. You had a previous bad credit.
7. Your current company has issues of financial stability.
8. Your current company has current issues.
9. You have issues when it comes to credit stability (such as length of stay in your house) or bad records when paying bills.
10. Loan documents you provided were all failed.
11. You submitted erroneous or illegal documents to the bank.
12. Your job is at high risk or hazard.
13. You do not have a property subject to collateral.
14. You do not have a credit card that shows your credit limit.

Besides from the above mentioned reasons, make an initiative to make a follow up on your loan application. Do not solely rely on the agents to take care of your application and the requirements needed by the bank. Bear in mind that you are the one who needs the loan and not the agent.

News Source: RachFeed

MUST READ: Know These 14 Reasons Why Your Bank Loan Application Is Denied! MUST READ: Know These 14 Reasons Why Your Bank Loan Application Is Denied! 11:45:00 AM Rating: 5
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