New Delhi, May 15 -- A growing number of borrowers are facing loan rejections from major banks such as HDFC Bank, SBI, Kotak Bank among others. This is a consequence of subpar credit scores.

As lending institutions tighten lending rules and norms, maintaining a very strong credit profile has become crucial for securing personal loans, credit cards along with other credit instruments at favourable interest rates.

A credit score generally ranges from 300 to 900, thus reflecting an individual borrower's credit worthiness, integrity and sincerity in repayment of borrowed money.

Now all scores over 720 are generally considered good, boosting the likelihood of loan approvals. On the other hand, all scores below the mark of 650 can result in ...