I tried to rectify my CIBIL score, but still not getting home loan – HELP !

POSTED BY anand3485 ON November 29, 2013 7:29 am COMMENTS (2)


I had default with credit cards and personal loans for almost 2 years and then I cleared all the outstanding dues by paying huge amounts. I did not go for settlements, but I cleared entire outstanding to improve my CIBIL score. After 1 and half years my score improved to 741 (November 25, 2013 report) and it was 500 before paying the dues.

I also got an instant credit card 4 months back in ICICI for fixed deposit and I’m paying that ontime. But still banks are not giving me loans and my car loan was rejected by HDFC yesterday. I’m looking to buy a home now and I want to know what are the chances of getting home loan. I’m planning to apply in DHFL. Please help me clear these doubts.



2 replies on this article “I tried to rectify my CIBIL score, but still not getting home loan – HELP !”

  1. ashalanshu says:

    Dear Anand, do you have No due Certificates from your past loans, CCs? if yes, please atach copies of the same along with your loan application to show on our own that you defaulted but corrected your mistakes. Your chances ‘ll be brighter now.



  2. Credexpert says:

    Dear Anand,

    Repaying the complete outstanding amount and the secured credit card has helped improving your credit score over the last 1.5 years. Credit score undoubtedly is one of the most important tools used by lending institutions in evaluating an individual’s credit worthiness. Having said which, it would also consider other factors as per its credit policies.

    As per the industry practice, 741 is a decent score but again each lending institution would have its internal credit score cut off which could have resulted in the rejection of your loan application. We would suggest that you approach the bank to clarify the reason for the rejection of your loan application. If low score/poor credit history is the reason then our service “Credit Report Analysis” would be useful to you.

    Do not make any further applications until the reason for rejection is ascertained. This will help in minimizing any chances of rejection and also help avoid high number of enquiries from appearing on your credit report.


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