Really very much disappointed with jupiter services as i took a personal loan of 59000 two months ago and after paying the emi on time and doing the payments prior to my loan and done the pre closure three months before
And now they have reduced the limit of loan
Very much disappointed, after using jupiter as my primary account an this is happening to me.
This issue doesn’t solely applicable to Jupiter but happens with almost all lending/bank apps.
There’s no assurance that a user will receive a higher or the same loan amount after closing (even pre-closure) their existing loan.
The outcome depends on multiple factors, such as their current credit score, creditworthiness, active loan accounts, credit utilization, a high number of loan inquiries, numerous other financial obligations, and more.
Additionally, there is also a possibility that a user may be denied a new loan after closing their existing one.
It’s important to note that the loan amount is not determined by Jupiter itself but rather by their lending partner.