Every Bank have their requirement for any bank loan application. Bank would require borrowers with the ability to produce income to show the borrower is capable of repaying the loan. It would be automatic refusal if you failed to prove that you are under employment or producing enough income during the loan application process.
Even you proven that you are employed, but due to any changes of your income is a key factor that affecting your loan application. Although your credit rating does not indicate your current level of income but bank will require you to disclose the information for further assessment. If your income cannot meet the bank requirement, your application may be rejected.
Credit Rating (CTOS & CCRIS)
The bank will have access to your all track record includes any late or overdue transactions and whether you made minimum or maximum payments and/or indicates the remaining monthly balance. The bank will assess your credit risk and understood whether your are a eligible borrower from here.
We will plan and propose the best debt consolidation plan based on our clients’ needs/situation to reduce the monthly repayment with a better loan tenure and interest rate.