2 weeks Ago By Moneycontrol
Getting a personal loan rejected can feel like a big setback, especially when you need funds urgently. Lenders reject loan applications for various reasons, and most of them can be fixed. Whether it’s a CIBIL score issue (or any other credit score issue), high debt, or missing documents, there’s always an opportunity to improve your chances for getting approval for a personal loan next time.
Why was my personal loan rejected? There are several reasons why lenders may reject a personal loan application. Some of the most common factors include: How to improve your CIBIL score A low CIBIL score is one of the most common reasons for loan rejection. Here’s how you can improve it: Get Instant Loan Up To Rs.
50L Conclusion To conclude, getting a personal loan rejected can be frustrating, but it’s not the end of the road. By understanding the personal loan rejected reason, improving your CIBIL score and managing your finances better, you can boost your chances of approval next time. If you’re looking for a hassle-free loan application process, you can explore Moneycontrol’s online lending platform, where you can access personal loan offers of up to Rs 50 lakhs from eight lenders.
With interest rates starting at 10.5% per annum and a 100% digital application process, it’s a convenient way to secure the funds you need..
