It is not that you will get a green signal every time you try to get something. You may face rejection, and it is quite common to get one. It does not mean that you will not appeal for a loan again. But take suitable precautions, when you appeal for the loan second time.

In the same way, when your personal loan gets rejected, you need to take proper precautions before applying for it again. As personal loan can be for any certain purpose such as medical emergency, buying an asset, getting a mobile or for any such preferences. A personal loan is something that does not require any kind of collateral. So, this can be a solution for any kind of financial usage when you do not have any collateral.

There is no clause stating that the lending agency must disclose the reason behind the loan rejection. It is the major default when it comes to the loan rejection, you are not aware of the reason and it is difficult to go forward. There is only one way before you apply for the loan again is to check with all the factors properly.

Credit Score:

As per the Indian marriage rituals, the horoscope is a basic factor. Similarly, when you are applying for a loan, credit score plays a vital role. There is no need to have a perfect credit score but need to have a better one. As it will help you to gain the lender’s trust in a more prominent way.

 Bad credit score can be one of many reasons for the loan rejection. You need to check with your credit score before the loan application. If you are not having a proper credit score try to improve your credit score before applying the loan for the second time. 

Credit Mix:

Many people may not know about this, but it is also something you need to be considered as an essential factor.  When lenders check for your credit score, they will check with the credit mix. If you have only the credit card loans it can be difficult. As they check for both secured and unsecured elements in your credit basket. You need to have both the elements with you.

 When you are appealing for a loan again, have a look at your credit report. After analyzing your report follow the suggestions to enhance your credit mix.


When you have been trying to fix your credit score, make sure to be regular with the repayments. Try to clear your other loans and credit card bills on time. When you pay your monthly loan repayments and credit bills on time, it will improve your credit score.

Credit Hungry:

There is no need to fund all your expenses with the help of your credit. It will show that you have a messy finance life. Approach a lender or a credit card agency when there is a need, not just you want to.  It can be a major reason for your loan rejection as they won’t be having trust concerning your loan repayment.

 These are the few factors, which need to be considered while appealing a loan for the second time.