Top 8 Reasons for Loan Rejection with Good CIBIL Score
Despite diligently improving your credit score, loan rejection can still occur due to various factors beyond the score. Banks consider factors like excessive debt, loan defaults, employment instability, previous rejections, red flags in credit reports, frequent borrowing, unbalanced loan types, and unverifiable credentials. Active monitoring of credit profiles and addressing discrepancies is crucial to enhance loan approval chances and improve financial habits for future applications.
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