There are certain reasons for a personal loan application that won’t be accepted by a lender. These include, but are not limited to:
Gambling
Any illegal activities
Investing, such as in property – you’ll need to take out a mortgage for this
A down payment on another loan
Student tuition fees – it’s unlikely the bank will grant a personal loan for this reason as student loans are set up specifically for this purpose and offer important advantages
If you’re not completely truthful with the bank on your personal loan application, it can have serious consequences if they later discover that you’ve been dishonest. They’re likely to demand the outstanding amount in full, which could leave you at risk of serious financial difficulty if you can’t repay.