Question

Every time I apply for a loan, the bank turns me down. Can you make the bank give me a loan?

Answer 1

Dear Usaraval

Sanctioning/giving a loan is the prerogative of a bank, which would be based on certain parameters like the very prupose, your monthly / annual income, the continuity of regular income, your liabilities, CIBIL score, repaying capacity etc.  No one can force a bank to give a loan, if the applicant's credentials don't fit into their guidelines.

RAJA

Answer 2

Dear Usaraval,

 

Please be informed that the objective of this website is providing guidance for resolution of service related issues to customers of any bank. This website does not represent any bank or regulator or consumer forum. 

As regards your query, please be informed that no one can compel any bank for granting a loan. Granting of loans is entirely at the discretion of banks. 

Banks follow own method of assessing credit risk and creditworthiness of the prospective customers. Loans are always granted on merits. Non consideration of your  loan proposals by the bank could be due to your not meeting the prescribed criterion. 

Regards

 

J R Mohandas