Some of the people maintain the business transactions very clean, but still dont get eligibility for bank loans.

You might be paying high income tax, even than dont get the eligibility for loans from banks.

The special care to be taken while handling all your monetary transactions are:

  1. Banks provide loans based on the worth of individual.
  2. Worth should be on papers, the single paper they verify is your Income Tax returns.
  3. Never default the credit card payments, it will effect your credit ratings and goodwill at banks.
  4. Never dealy in paying your EMI's, Loan dues or any bank demand.
  5. Your civil report will decide your elgibility for bank loans.

Posted 3 years, 11 months ago by CA Pulkit Sharma

True pulkit, and now that KYC documents are in place all your data is centralized with SEBI and credit rating is directly monitored. one has to be very careful while applying for loan.

gone are those days when ppl used to take many loans from different banks and enjoy the options, incase he/she has other repaying options. As your data is centralized through KYC details, the process for loan has been streamlined.


Posted 3 years, 11 months ago by Babulal Shiradana

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