A good credit score alone does not mean a person will get the loan he wants. Lenders additionally look at the status of previous loans and the repayment history on such loans. A previously settled or a written off loan is likely to impair the ability to avail more loans. Credit history, outstanding loan value, loan types, recent credit events, etc. affect one's credit score.
A good CIBIL score is necessary for successful processing of your loan or credit card application. A good CIBIL score shows potential lenders that you are a reliable customer. But it does not necessarily mean that you are loan eligible. A good CIBIL score can carry you only so far. There are a few factors which might affect your credit card or loan application, despite having a good CIBIL score.
The major reasons why your loan gets rejected even if you have a good CIBIL score: