The reasons for banks not approving loans are quite relative. Almost everyone needs to get credit in certain periods of their lives. Sometimes there are large and sometimes less credit applications. Taking credit is seen as an urgent solution. But; banks do not always approve loan applications.
I want to take a loan but they do not give the promise is a common situation. There are many reasons why banks may not provide loans to an individual. Because a bank takes the individual under examination as soon as the individual applies for a loan.
Banks approve loans that will guarantee reimbursement while providing loans to individuals. If there is a risk in repayment of the loan to be provided, the bank rejects the loan application. Because the bank wants to secure its credit. Therefore, even a minor roughness after examination may result in the rejection of the loan in question.
At the same time, since banks do not have an obligation to give loans to individuals, the bank is free to not give loans to individuals when it deems unsuitable. The roughness detected by banks is the reason why the sentence that banks do not give credit is repeated frequently.
Reasons for banks not approving loans
The credit rating is one of the points that banks pay the most attention to their loan applications. The credit rating represents the individual’s financial history. Therefore, the credit rating is a decisive factor for a bank. The individual who says I want to take credit should pay attention to this point. If the credit applicant’s credit score is high and fulfilled under other conditions, the bank may approve the loan application.
The individual must learn the credit rating. For this, credit rating calculation is required. Those with low credit ratings may try some techniques to upgrade their credit ratings. At this point; The most preferred method to increase credit rating is to obtain a credit card. If the credit card is paid regularly in accordance with the calendar, the credit rating of the individual increases in a certain time.
Credit line; is a currency given according to the individual’s income. Banks have credit limits. In general, this limit; salary / 2: monthly amount. To clarify this situation, the monthly installment amount of the loan should not exceed half of the person’s salary. Therefore, the individual has to set a credit line suitable for his income and salary. If it sets a limit exceeding this situation and applies, the loan will not be approved.
Irregular Payments History
If the individual has not regularly paid the loans that he has used before and this is followed by the banks because of this situation, this affects the approval process of the loan application. At the same time, this situation is reflected in the person’s credit rating. In addition, those who have delays in credit card payments are under these negative effects.
Document and Document Deficiency
In loan applications, all documents and documents requested by the bank in question must be delivered to the bank in full. It is extremely important that all documents related to income and salary are submitted to the bank. At the same time, failure to provide or declare a single document or document seen in detail causes rejection of the loan application.
The existence of another loan that continues to be problematic
Persons may need a second loan while they have an ongoing loan. In these cases, you can apply for a loan. Of course; In such cases, the ongoing loan of the person will be examined. For example; monthly payment amounts of the ongoing loan, whether the individual pays regularly and in accordance with the calendar is examined. If there is a problem or disruption in ongoing loan payments, the bank may not approve the loan.
The so-called “Black List” is often heard. If an individual has a legal or administrative track record in the credit registry within this framework, the bank may reject the loan application.