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How do banks rate individuals for personal loans?

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Banks do not rate anyone. Credit scores are computed by the credit rating bureaus

A credit score demonstrates the credit bureau's evaluation of an individuals probability of default, based upon historical information available with them from numerous data points that they evaluate. Besides the credit rating obtained from the credit bureau, individual lenders might use criteria like negative PIN codes, negative occupations, positive employers lists, positive educational institutions as additional crediteria when making a lending decision. These are all based upon their individual credit experience and will vary from one lender to another..

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