Gregory R Smith

Day: October 5, 2018

5 Tips to avoid Your Personal Loan Application Being Rejected

Ensure following points to avoid your personal Loan Application being rejected:

Full details:

Please fill all the mandatory details like Name, Age, Income details etc without any mistake.  Please recheck once before submitting the application.  Any mistake in the loan application will result in rejection.  Also not filling the mandatory particulars may also result in rejection.


Financial institutions seek certain proofs which may be a mandatory legal requirement as per legislature of a country.  Those may include, Age proof, Address and ID proofs, Income proofs etc. Provide all the correct proofs clearly and legibly.

Satisfaction of eligibility conditions:

Collect all the details regarding the loan.  Most of the lenders like provide full details about the eligibility criteria and other FAQs on their websites.   Most lenders specify eligibility conditions like security, job stability of borrower, Age limit etc.  Hence check the eligibility/preconditions- For example Security which you are offering for the loan is sufficient as required by them.  In case of any doubts check with customer support for an alternative or relaxation is available.

Credit score:

Financial institutions all over the world, pre-verify the credit ratings of the borrower.  Hence ensure that your entire existing loan EMIs are not outstanding and paid regularly without any delay.  Any bad credit score/rating will result in rejection of the loan.   Hence ensure a good credit history.

Loan purpose:

When the purpose of the loan mentioned in the application is invalid the loan will be rejected by financial institutions.  In the loan application always state a valid/reasonable purpose.

While filling the application don’t assume or ignore any point.  Even get small queries clarified with the customer support team.   The above points assure full guarantee in getting a loan application processed fastly and successfully.   So get your loan application processed without any rejection in one go.