Personal loans are known as easy loans for their quick approval and disbursal process. But all personal loan applications do not get approved. There can be many reasons behind the rejection of a personal loan application. Read on to know what you should do when your loan application gets rejected. 1. Identify the reasons for rejection The first thing to do is to determine the reasons for rejection which can be any of the following:
There can be many other reasons as well. 2. Implement the solution The next step after identifying the reason is to implement a solution to it.
3. Go for alternatives Applying with another lender or for a credit card are some of the other things that you can do in such a scenario. Bajaj Finserv brings to you pre-approved offers on its various financial products. You can check your pre-approved loan offer by sharing some basic details like your name and mobile number. Additional Read: Best Possible Ways To Approve Your Personal Loan Application
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AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |