What are the circumstances that led to the rejection of consumer loan applications?

Date of publication : 2020 / 08 / 06    Views :

  1. Loan purposes are not allowed

  Although consumer loans have a wide range of uses, not all uses can be applied for. If the borrower needs the borrower to invest in stocks or engage in a relatively high-risk industry, it is of course not allowed to apply for consumer loans to obtain funds. Second, consumer loans cannot be used to repay mortgages. Furthermore, some illegal activities cannot be done by obtaining funds through consumer loan applications.

  2. The loan conditions are not met

  For consumer loan applications, the borrower must at least have good income and credit, the income must be stable for more than half a year, and the credit must not be overdue for a long time. At the same time, if it is a mortgage loan, there must be collateral that meets the mortgage conditions as collateral. Some people may be rejected because the above conditions do not meet the requirements of the lending institution.

  3. The loan amount is too high

  If the amount of the consumer loan applied for is too high and the borrower's conditions cannot apply for such a high amount, it may also be rejected. The application for consumer loans should be based on the borrower's ability to repay, current income status, credit status, and collateral status, etc.

  Therefore, when applying for a consumer loan, you must ensure that you meet the corresponding loan conditions, otherwise you can only be busy. I hope that the introduction of the editor can bring you some help.