4 Job Statuses That Can Lead to an Online Loan Rejection


Get an instant approval on online loan by providing your bank statement, PAN, Aadhaar and CIBIL Check. Your personal loan awaits at Loan Singh

Hi Friends! How are you doing today? We begin by remembering the late Stephen Hawking who passed away yesterday at the age of 76.

Friends, I receive hundreds of online loan applications every day. Our easy and seamless application process coupled with only 3 documents with credit score checks make Loan Singh the best digital lending platform by a mile. Now, with so many applications coming in, there are bound to be rejections as well.

A personal loan rejection can occur due to factors such as:

  • Poor credit history or poor credit rating
  • Bad credit score
  • Non-meeting of our financial criteria
  • Too many concurrent loans being cycled
  • Tampered bank statement PDF

There is one more grave reason for an online loan rejection, and that is what we will discuss today – Your employment/job status while applying for an online loan.

Get an instant approval on online loan by providing your bank statement, PAN, Aadhaar and CIBIL Check. Your personal loan awaits at Loan Singh


Why does employment status matter in an online loan?

I re-phrase the question “Why shouldn’t employment status matter when applying for an online loan?” Some rejected loan applicants write to me asking how I could reject their loan application, when they are

  • Owner of their business for the past 2 years
  • Working abroad and get their salary via netbanking
  • Unemployed, but want to apply on a relative’s salary
  • Just took up a first job a month ago

It doesn’t work this way at Loan Singh. Try being reasonable with me here. Loan Singh is not a bank. We do not open up our office for individuals to come see us in person, make you move from one cubicle to another with your application form, pile of documents and photocopies in tow. I don’t have time for all that.


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I actually went to banks and other lending institutions and decided upon creating this digital lending platform to erase the time delay that is involved in bank processes. Loan Singh focused on 2 key areas

  • Online – No physical visits or wastage of fuel J
  • Speed – Save your precious time instead of waiting for weeks for a loan
  • Hassles – The cubicle bit mentioned above and searching for a reference


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Loan Singh is byproduct of a Fintech startup named Seynse (pronounced Sense). My creators are knowledgeable leaders who aim to remove the pain points faced by credit worthy salaried individuals.

4 Job Statuses That Can Cause an Online Loan Rejection

I know listing 5 job statuses as rejection reasons would make not much sense.

“If you are non-salaried you cannot get an online loan”

“If you collect salary in cash, then you cannot get an online loan”.

These 2 salaried requirements envelope basically everything that falls inside the financial requirement section.

 1. Frequent Job Hopper

Job stability is important for applying for an online loan. Loan Singh needs your latest 6 months bank statement to check if you are being salaried each month by your organization. This indicates your stability and frame of mind, before providing you with an instant pre-approval. A track record of job hopping can hamper your chances of a loan approval. Sometimes from an ECS receiving salary, you next job could implement a cash in hand policy (it’s a rare example). In this case, Loan Singh cannot gauge your credit worthiness solely on your bank statement.

The same is applicable in case you are serving a notice period at your current employer and look for a fresh job. You must shoulder the responsibility of informing Loan Singh in such a scenario. Your corporate or work email ID will be verified while applying for an online loan.

 2. Owner at Owner 

A common work title on Facebook, individuals pride themselves in proclaiming their proprietorship. But, for an online loan, a rejection in this case is mandatory. Working for a company as a salaried (receiving salary every month into your bank account digitally) individual is compulsory for an online personal loan approval. Even if you are churning in a decent amount of profit each month, you will not be approved of an online personal loan at Loan Singh.

 3. Salaried NRI (Non Resident Indian)

If you are an Indian national but working abroad and receiving salary via an online transfer within your bank account in India, will not be enough to get you an online personal loan approval. Chances are your salary could be well beyond Rs.50,000, but despite that your online loan application won’t be accepted. The same also applies if you work on contract and submit an invoice to your employer every month.

 4. Recently Joined

If you have just joined an organization (less than 6 months), then you should hold on with an online personal loan application attempt. Work experience is important when applying for an online personal loan. A steady flow of income each month ensures you will have the required funds to pay back the EMIs. Always go through Loan Singh’s Frequently Asked Questions page to see if you stand eligible for a personal loan online.

Loan Singh is a digital lending platform that prides in providing an unsecured online loan to salaried individuals. You can apply for instant funds with instant approval. An easy emergency loan can be availed in the form of a personal loan, which is not a bank loan. You receive a low personal loan interest rate. This instant loan, which is basically a quick loan, can be paid via easy EMI and can be availed for a number of loan purposes such as:

You can calculate your easy emi using our personal loan emi calculator. We accept bank statement, PAN, and Aadhaar for instant loan pre-approval. A bad credit score or credit report errors can lead to personal loan rejection. Personal loan defaulter consequences can also ruin your credit score. Improve your credit rating by avoiding emi repayment default. The ‘Loan Singh Blog’ is one of the best finance blogs in India.

Loan Singh’s Online Presence

Loan Singh is not an anonymous digital platform. We are present on almost all leading social media platforms. All you need to do is look for us. Some destinations you can find us on are:

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