Cibil report for sanction of loan

Ranbir (Querist) 28 February 2017 This query is : Resolved
Dear sir,
I would like to bring your attention to a fact that recently I had applied for education loan to a PSU bank and got approval regarding same know similarly I went to another bank and applied for car loan they asked for documents to me I provided all my documents regarding same and even several meeting was held with the banking officer regarding sanction of loan the officer postponed the matter from one day to another which nearly took 20 to 30 days I got frustrated by the harassment and asked reasons for such delay and the officer declined my loan stating that my cibil score is very poor I immediately complained to the manager of the bank who stated nothing can be done. now sir when one bank has granted education loan to me of rs 380000 but another bank declines loan on cibil score what should be done sir when I never had loan or any credit card is it legal to use civil as a reason to decline loan without knowing the facts

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Sudhir Kumar, Advocate (Expert) 01 March 2017
If it is govt bank use RTI.

Adv. Yogen Kakade (Expert) 01 March 2017
Apply to CIBIL through its website and get your cibil report to verify your eligibility. Sanctioning the loan or not is the self discretion of the bank.

rajeev sharma (Expert) 01 March 2017
You may your self check your CIBIL report on its website. Your cibil report improves with the repayment of loan. since you have very recently been sanctioned a loan and hence CIBIL might have lowered your score keeping in view your repayment capacity.

Kumar Doab (Expert) 01 March 2017
"what should be done sir when I never had loan or any credit card"

If you never borrowed before applying for this loan, then why your credit score is affected/low?

Rajendra K Goyal (Expert) 02 March 2017
Whether your first loan is regular, no default occurred? When your education completed? Whether interest paid regularly before EMI due?

When first loan was availed, when the education was completed?

If your first loan is NPA / under default, your CIBIL score is effected negatively.

Why you not approached your previous Banker for Car loan when they have sanctioned first loan, why to approach new Banker?

Car loan is also associated with your payment capacity, are you employed now?