Reasons Behind Rejection of Loan Application

(Multiple Response Question)

"Why was (were) one (some) of your loan application(s) not successful? What explanation did the lender mention to you?"

No. of Records %/Total
Insufficient and/or irregular and/or uncertain income832
Don't know416
No account held with the bank312
I was never told why my application was rejected312
Have too many other debts28
Insufficient asset28
Lack of formal paperwork (including identity documents, no permanent address, no pay slips, etc.)28
I had no job / income14
(N)25100%

*Horus - Gallup Pakistan - Access to Finance Survey 2015