Fri. Mar 1st, 2024

“Your loan application is declined!” is not a comfortable phrase to hear when you’re in a state of emergency. The deepest concerns for banks, NBFCs and other firms are all the same. People who come across having good credit scores can also be subject to rejection for reasons unknown.

 

Buddy Loan is renowned for its approval rate. Over, 80% of approvals are personal loans that meet the eligibility criteria at Buddy Loan. In most cases, you will find that the interest rate is a matter of objection for heavy pay-outs and longer tenures. But, at Buddy Loan you can choose a lender and customise the tenure and EMI based on your income.

There are reasonable loan rejections at Buddy Loan. Typically, there is much very little margin for rejection. Yet the extreme cases are listed below:

https://online-loan-monthly-payment.info
https://installment-loan-direct-lender.info
https://easy-money-loan.info
https://installment-loans-for-bad-credit.info
https://emergency-loans.org
https://cash-app-loan.info
https://instant-loan.best
https://instant-loans.best
https://instant-cash-loans.info
https://instant-payday-loans.info

Past loan settlement behaviour

 

Any financial firms considering your loan request will check on your past loan settlements. The term “loan settlement” is often mistaken with closing a loan. It is by definition the same, but with a minor difference. Debt settlement is a one-shot payment where you repay less than the availed loan amount.

Now, this might considerably reduce your credit score. Based on this behaviour, the study says that banks and NBFCs might reject your loan application straight out of request. Buddy Loan, however, informs the applicant in case of rejection.

 

By admin