How Banks Evaluate CIBIL Score and Approve Home Loan Applications ?

CIBIL Loan ApprovalsMany of our readers have written to us to know How Banks Process and Approve Home / Car Loans ? They further have apprehensions that their Loan Applications were turned down despite having good Credit Report and CIBIL Score greater than 800. How do we account for such a case ?

When you apply for a Housing Loan, the following steps are performed by the Lending Bank / Financial Institution.

  1. Collect all necessary Documentation where Income Proof like Salary Slip, IT Returns are of importance to our discussion.
  2.  Collect necessary Processing Fees / Debit to your Account
  3.  Pull a Fresh CIBIL / Experian Credit Report and

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