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Personal Loans Discuss personal loans, secured and unsecured, and general borrowing.

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  #1  
Old 08-21-2017, 01:47 AM
divi divi is offline
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Join Date: May 2017
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Default Personal loan rejected

Hi, do really Debt Burden Ratio matters in the personal loan? My loan application got rejected and that bank person referred me this article
http://www.mymoneysouq.com/financial...-burden-ratio/
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  #2  
Old 08-24-2017, 07:25 AM
Jovanny Jovanny is offline
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Default Re: Personal loan rejected

The bank must be sure that you are financially stable to repay the loan. If you are already in-debt, it never leaves a good impression.
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  #3  
Old 12-14-2017, 04:20 AM
Banknomics Banknomics is offline
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Location: 56, Akashneem Marg, DLF Phase 2,Guragaon, Haryana, India
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Smile Re: Personal loan rejected

For a successful loan approval, itís necessary to be free from your all running debts (Whether itís Business Loan Payments, Credit card Bills, Personal loan or other debts). Banknomics Suggests to all their Borrower pay off their debts on time and try to maintain the CIBIL score for a successful loan approval.
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Old 02-12-2018, 02:06 AM
jane21august jane21august is offline
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Default Re: Personal loan rejected

Banks are considering Debt burden ratio while approving for Loan and so if you are earlier not able to pay your loans at a particular period.They are not providing you with the one later and until you have paid all your debt.
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Old 04-20-2018, 05:00 AM
anupamajha01 anupamajha01 is offline
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Default Re: Personal loan rejected

I never trust Banks for personal or business loan, they are hard to convince them. There are many other NBFC lenders you can rely on. I will recommend you to contact to Monexo for personal loan.
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  #6  
Old 04-29-2018, 08:13 AM
Cammi Cammi is offline
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Default Re: Personal loan rejected

Hi! I started my small pie-delivery business with a small loan taken here http://payday-loans-cash-advance.net/ . Got 1k bucks just to finish all preparations and then they were automatically taken from my bank account. Convenient and no additional bureaucracy that I hate.
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  #7  
Old 04-30-2018, 03:07 AM
Quikrupee Quikrupee is offline
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Default Re: Personal loan rejected

There are various calculations from banker side in giving a loan to a customer.
Factors like
Salary of an employee
If you are a self-employed then annual business turnover will be checked.
Any current loan like consumer loan, personal loan or any business loan running.
Do customer have previous loan track or this is the first loan for him.
Do customers have any CIBIl default due to any delayed payments, Credit card outstandings.
Customer credit history for about 1 year.
Mode of residence like own house, rented or hostel is also considered for getting a loan.

All banks must provide a personal loan with great credit risk and there is a possibility of not paying it. Hence people having more debt ratio or more than 1 current loan running will have a more great risk in getting a loan.

Quikrupee is an online financial portal proving personal loan at low interest in just 3 days.
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