01/08/2023
It is well known that the higher your CTOS score, the better your credit status, and the higher the probability that banks will approve your loan.
How can you improve your CTOS credit record?
✅ Pay your bills on time and repay your debts because banks prefer those who are reliable and responsible in their payments. Try to reduce the number of loans or debts you have.
✅ Try to minimize the number of loans or debts you have. When you already have a lot of loans and debts, taking on another loan is often not a good idea.
✅ Improve your Debt Service Ratio (DSR) and maintain it at a low level, otherwise, banks may consider your debt burden to be too heavy. You can improve your DSR by reducing your debt or increasing your income. You can start by paying off your largest loan or debt, which can help lower your DSR to some extent.
✅ Ensure that your bank loan application documents are complete:
📌 A completed loan application form
📌 Clear copy of your identification card
📌 Sales and Purchase Agreement (SPA), booking form, and copy of receipt issued by the property seller or developer
📌 Copy of individual title (if applicable)
📌 Income statement (including 3 to 6 months)
📌 EA form (this is an annual salary report that lists your income for the previous year)
📌 KWSP statement
📌 Income tax report
📌 Bank statement
If you or your friends need assistance with any loans, CJ Wealth Solutions is a financial expert you can trust!
✅ 100% free consultation
✅ Lower bank interest rates
✅ Higher loan amounts
