Factors Determining Loan Approval

  1. Credit Score: A loan provider needs to know which applicants are most and least likely to honor their loan obligations. Lenders use borrower’s credit scores to assess credit risk. These scores take payment history, the current level of indebtedness, length of credit history, opening of the new credit accounts, and the amount of credit outstanding while determining the creditworthiness of an applicant.Generally, a credit score in the range of 700 to 800 increases the likelihood of loan approval but, credit score of less than 300 increases the chances of rejection of the application.

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I am a Data Analyst at EXL and I have done masters in economics from Jawaharlal Nehru University

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Akshita Chugh

Akshita Chugh

I am a Data Analyst at EXL and I have done masters in economics from Jawaharlal Nehru University

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