bad cibil score - personal loan rejected

I took a personal loan from ICICI bank and the EMI got debited from my ICICI Bank Account till September 2010 through ECS. After September 2011, due to some personal reasons, I am not able to maintain sufficient balance in the ICICI account. So, the EMIs were bounced, but, was paying the EMIs through other means as I stopped using the ICICI bank account and now, there are 5 EMIs pending till date, which I will be paying each in subsequest months.

I also have another personal loan with CitiFinancial, the EMIs of which was also got debited from my ICICI Bank till September 2010. After that from March 2011 onwards, I got this EMI swaped from ICICI bank to HDFC bank for EMI clearance through ECS. Now, I do not have any issues with Citifinancial Loan as it is getting cleared from my HDFC bank account.

I never swapped the ECS of EMI for ICICI loan as the loan tenure is getting closed in June 2011 (completing 4 years tenure).

I recently applied for a personal loan due to some family emergency for an amount that covers the 7 EMIs (5 EMIs pending till date and 2 EMIs for next 2 months for ICICI Personal Loan) with HDFC bank. But, my Loan application was rejected saying I am having bad CIBIL score.

Pls. let me know how can I improve my CIBIL score and what are the procedure for the same. I hope, I never defaulted in repayment as I am paying the EMIs offline and only 7 EMIs are pending including the next 2 months EMIs.

Thanks for the time you are spending in reading through my query.


Better close the dues with ICICI bank and request them to report no-dues, to CIBIL to eliminate defaulter status.  There is no hard and fast rules for sanctioning personal loans, by banks; they may not even care for CIBIL score.  Hence apprise the bank official your genuine necessity and try to get loan from HDFC bank or another bank.  It is not advisable to default loan instalements, at any eventuality.


Dear friend,

The CIBIL is the agency rating regularity of the repayment for further financial assistance.

Granting loan by the banker is the Managerial decision.

You have to convience the financing Banker as to how / under what circumstance the default had ocurred and how it was regularised, with the proof there of.

I think, this would be sufficient to convince the Banker.



Please do visit www.rectifycredit.com

They are channel partners of CIBIL.

They provide advisory services in rectifying your credit score. 

Also visit www.creditduniya.com

It provides useful information.


I had a similar problem with CIBIL. I got in touch with Credit Sudhaar( www.creditsudhaar.com ) They are a crack team run by professionals from the financial services industry. Excellent responses, always available to take my queries.. These guys at Credit Sudhaar are ever reliable. you can contact them on 022-67886788



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