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.