Question

What could be resons for denail of the request for the loan

Answer 1

1-INSUFFICIENT INCOME

Before granting loan ,the bank will check the financial status of the lendee. If the borrower not having enough financial stability then he cannot repay the money,The bank must know with proper evidence about the status of the borrower and he should capable of providing documents related to his income.

2-POOR DOCUMENTATION

The bank will deny the application of loan in case of poor documentation.which means that they have to submit all those documents to the bank. If they fails for the same ,then the bank will deny the application for loan.

3-HISTORY OF LATE PAYMENT

If the borrower took loan from the bank and failed to repay the money within the time mentioned .In that case the bank will take a step back to grant further loan to the applicant

4-JOB STATUS

Here before granting loan the bank will checks the job status of the applicant. Because bank will deny the application when they realise that the  applicant cannot repay the loan with that job status.