Is it possible to refuse a loan after it has been approved?
Posted: Tue Feb 18, 2025 10:37 am
Personal visit to the bank office – employees will be able to check the status of the request and inform you of the results.
SMS and PUSH notifications are the most popular channels for informing about approval of an application or refusal to open a credit line.
The borrower's desire to know the decision right away is completely understandable. But sometimes it takes more time to check the data provided. If an hour has passed since you applied for a large loan and the bank has not yet made a decision, then you should just wait. Lenders almost always inform clients about both approval and a negative decision. But if more than one day has passed since the application, it makes sense to call the support service or check the status of the application in another way. For example, through a mobile application.
How long is the loan approval valid?
If you may need a time-out or want to compare the terms of several tongliao mobile number database banks, it is worth checking with the credit manager in advance about the validity period of the offer to open a credit line. It is not unlimited - usually the borrower has several days or weeks to sign the agreement and collect the money.
The validity period may depend on the type of credit product:
consumer loans – from several days to 1-2 months;
mortgage – on average up to 2-3 months;
other secured loans – usually no more than 2 months.
In the context of frequent changes in the key rate, many banks shorten the validity period of the individual offer. It is worth clarifying it in advance and understanding how much time you have to make a final decision. Missing this period may result in you having to submit a new application and wait for a decision again.
The borrower may change his mind even after the application has been approved. If you have not signed the agreement, then usually it is enough to simply inform about your intention. For example, by calling the hotline. In rare cases, additional confirmation may be required that it is you who is trying to register the refusal - then they will call you back or offer to come to the nearest office.
SMS and PUSH notifications are the most popular channels for informing about approval of an application or refusal to open a credit line.
The borrower's desire to know the decision right away is completely understandable. But sometimes it takes more time to check the data provided. If an hour has passed since you applied for a large loan and the bank has not yet made a decision, then you should just wait. Lenders almost always inform clients about both approval and a negative decision. But if more than one day has passed since the application, it makes sense to call the support service or check the status of the application in another way. For example, through a mobile application.
How long is the loan approval valid?
If you may need a time-out or want to compare the terms of several tongliao mobile number database banks, it is worth checking with the credit manager in advance about the validity period of the offer to open a credit line. It is not unlimited - usually the borrower has several days or weeks to sign the agreement and collect the money.
The validity period may depend on the type of credit product:
consumer loans – from several days to 1-2 months;
mortgage – on average up to 2-3 months;
other secured loans – usually no more than 2 months.
In the context of frequent changes in the key rate, many banks shorten the validity period of the individual offer. It is worth clarifying it in advance and understanding how much time you have to make a final decision. Missing this period may result in you having to submit a new application and wait for a decision again.
The borrower may change his mind even after the application has been approved. If you have not signed the agreement, then usually it is enough to simply inform about your intention. For example, by calling the hotline. In rare cases, additional confirmation may be required that it is you who is trying to register the refusal - then they will call you back or offer to come to the nearest office.