Small partners, we all know that when applying for a loan, there may be a refusal. Let us speak together today about the possible reasons for those rejections。

What are the reasons for the rejection

First of all, you must maintain good personal credit. If your credit reports show delays, debt, settlement and other bad records, or even a credit gap, the lending institution may find your credit risk too high and reject your application。

Secondly, it is important to maintain a stable income. The bank wants you to have a stable source of income to guarantee repayment. If your job is more precarious, such as a frequent jump or an internship, you may be refused a loan because you do not have a stable income。

Information on applications in the loan process is then essential. If you fail to provide a complete application, the bank cannot fully assess your credit position, which is likely to lead to the rejection of the loan。

ALSO, YOUR CREDIT LIABILITY RATE IS A KEY FACTOR. IF YOUR DEBT RATIO EXCEEDS THE TOLERANCE OF THE BANK (USUALLY 50%), THE BANK MAY FEEL THAT YOU ARE UNDER A HIGHER CONSUMPTION PRESSURE, WITH A HIGHER RISK OF DELAY, AND MAY OPT OUT OF YOUR LOAN APPLICATION。

Finally, the frequency of applications for loans should be moderate. If you apply too often for a loan or a credit card, the bank may consider you to be under stress and ill-intended, which may also lead to the rejection of the loan。

How do we check the results after a loan application? There are three ways:

We can ask by telephone, just call the bank's customer service phone and provide our own information as a reminder, so we can ask for the loan approval results。

ANOTHER EASY WAY IS TO CHECK THROUGH THE LOAN BANK'S OFFICIAL WEBSITE OR THE APP, AND SIMPLY LOG IN TO FIND A LOAN PROGRESS CHECK IN THE FUNCTIONAL COLUMN TO SEE WHAT THE RESULTS OF THEIR APPROVALS ARE。

Finally, if you have time, you can go directly to the bank counter with the loan information. Direct access to bank staff is also a viable approach。