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What is creditworthiness and how it affects loan approval?

April 26, 2017affects Approval creditworthiness loan

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What is creditworthiness and how it affects loan approval?

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Ans: Creditworthiness implies a good past credit track record. It is reflected in your credit score. When your credit score is good, loan approval is faster and the payable rate of interest is lower. But, if you are suffering from poor credit score, the rate of interest is higher.