CIBIL score is a very important factor in case of loan. Through CIBIL score, the complete record of your repayment of all the previous loans is revealed to the bank and on this basis the banks decide whether you should be given a loan or not and if it is given, then at what interest rate. Overall, banks test your credibility through CIBIL score. But sometimes your credit score is good, but due to some other factors your loan request gets rejected. Especially in case of home loan, these factors play a big role. Despite having a good CIBIL, if your home loan request is getting rejected repeatedly, then the 7 reasons mentioned here may be responsible.

Home loan is a long term loan and a large amount is taken from the bank as a home loan. In such a situation, banks do not want to take any risk regarding the loan. Therefore, your age matters a lot to the bank. Financial institutions prefer to give loans to young people more than the elderly. If your age is more than 50 years, then the bank may reject your loan request.

If you have applied for a loan in many banks simultaneously, then your loan may be rejected. The reason for this is that if you apply to many financial institutions simultaneously, all of them will check your credit score at the same time. These details are recorded in your credit report. This affects your credit score. Also, a negative message goes to the loan-giving institutions. In such a situation, banks or other financial institutions can reject your request.

If you do not fill in the correct information while applying for a loan in the bank or if your information is incomplete, then the bank can reject your application. Therefore, fill your application carefully and give the correct information.

Banks look at the income of the person while giving a loan, so that they can estimate whether the borrower has the capacity to repay the loan or not. Banks believe that the applicant who has a higher income will be able to repay the loan on time. The loan limit also depends on this. If there is no coordination between your loan amount and income, then also your loan request can be rejected.

Many times banks blacklist some projects or areas. Even if you apply for such a project, there is a possibility of your loan request being rejected.

If you do not have a credit history, then banks hesitate in giving you a loan. In such a situation, they are unable to consider you trustworthy. In common language it is called minus CIBIL score. In such a situation, you should take a loan against your FD and pay it on time or use a credit card and pay on time. This will prepare your credit history. After this you can apply for a home loan.

Before giving a loan, the bank also looks at your DTI ratio i.e. debt to income ratio. For this, if you already have any loans running, then their sum is added and divided by your salary. The lower the DTI ratio, the easier it will be for you to get a loan. If it is high, then there may be problems in the matter of loans.