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A Loan of 7.5 lakhs rejected due to CIBIL
3 years ago
I'm looking to take a loan for Rs.7.5 lakhs for my abroad studies. Now the problem with me is that both of my parents CIBIL are low, but considering RBI guidelines, a students educational loan shouldn't be rejected solely on the basis of parents' CIBIL. Thus, I'll need clarification on the above and if anyone could help me voice out, it would be great. Thank you in advance.
Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
There are several other factors that a bank has to consider when granting loans including risk factor, probability of timely repayment etc. As suggested in the other response below, you can take up your grievances with the banking Ombudsman, which exists to provide redressal to bank customers.
There are several other factors that a bank has to consider when granting loans including risk factor, probability of timely repayment etc. As suggested in the other response below, you can take up your grievances with the banking Ombudsman, which exists to provide redressal to bank customers.
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A.Hi,
There are several other factors that a bank has to consider when granting loans including risk factor, probability of timely repayment etc. As suggested in the other response below, you can take up your grievances with the banking Ombudsman, which exists to provide redressal to bank customers.
There are several other factors that a bank has to consider when granting loans including risk factor, probability of timely repayment etc. As suggested in the other response below, you can take up your grievances with the banking Ombudsman, which exists to provide redressal to bank customers.
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A.Dear Sir,
You may approach Banking Ombudsman.
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You may approach Banking Ombudsman.
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Ankur Goel @ Complete Law Shield
Responded 3 years ago
A.cibil can be low for various reasons.
bank also have to see risk profile.
low cibil for not maintaining debt profile is not basis.
low cibil for not returning loans will make bank reject it.
bank can ask for more interest if some risk there.
rejecting completely seems to be high risk category.
Hope this clarifies,
Advocate Ankur Goel (Complete Law Shield)
#YourLifeYourChoice
bank also have to see risk profile.
low cibil for not maintaining debt profile is not basis.
low cibil for not returning loans will make bank reject it.
bank can ask for more interest if some risk there.
rejecting completely seems to be high risk category.
Hope this clarifies,
Advocate Ankur Goel (Complete Law Shield)
#YourLifeYourChoice
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