When a bank receives your loan application, the bank will view your credit report to assess your credit standing, including how prompt you are in making your credit repayments, and what your current financial commitments are.
From there, the bank will make their credit assessment on you and decide whether to approve or reject your loan application.
A credit report contains all your credit information as reported by all your banks. The information collected at the Credit Bureau is then consolidated into a credit report. It is your responsibility to check your own credit report to ensure all the information reported on you is correct and updated.
For more information on Credit Bureau, BDCB, click here.