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Yes, it is. At least it is attempted fraud. It is both a civil wrong (a tort) and a criminal wrong. Fraud occurs when a person makes false statements to another, knowing they are false, intending that person to rely upon the statements to obtain something he is not otherwise entitled to and the person takes some action to his detriment relying on those statements. Lying about income is making a false statement, knowing it to be false. The application is used to convince the bank to give the loan and by submitting it, the person intends that the bank will give the loan in reliance on false information. If the bank turns the loan down, there is no damage to the bank and the applicant has not obtained anything, so there is no completed fraud. But attempted fraud is still a crime. If the bank lends the money and it cannot be repaid, the borrower is liable to the bank for its damages under the tort and will face jail and/or fines for the crime.

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Q: Is it fraud to lie about income on a personal loan application?
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