How can you track your personal loan status?

by Ester Adams

Customers can review the personal loan application status by themselves and get a better understanding of when to expect the funds. Let us view the distinct ways in which you can easily track the HDFC personal loan status or IndusInd bank personal loan status or status of any other personal loan through other lenders.

How to review the status of a personal loan online?

Online mode is the simplest way to keep a thorough track of your personal loan application status. All top leaders in the market endow ways for the customers to track the loan status of the loan application online. You simply can visit the site of the lender to track your loan status with the listed details:

       Mobile number

       Application reference number

       Name

       Date of birth

You may be asked to give any of the above-listed details for verification purposes. After providing the details, you can get the loan application status through an online medium.

How can you check your personal loan offline status?

While it is not an efficient model, this method is even still used by the customers in the market. The method includes visiting the lender’s bank branch with the reference number that you received at the application time. Also, you should carry your valid ID proof to confirm your identification. Once you provide the lender with these details, a bank’s representative will assist you in tracking the personal loan application status.  

How can you check your personal loan status via the customer service medium?

The bank’s customer service department can even assist you in tracking the loan application status. You might either email or call customer service to track the loan’s status. When you reach customer care, you require providing the reference number along with the registered phone number to the bank’s representative. Your status can be easily tracked within a few seconds here. In case you submit an email, you must provide all the details very clearly to the lender. Bank will call you within 24 hours.

Distinct personal loan status tracking mediums

You can track your personal loan status easily in India using distinct ways. The following list endows you with a fair idea about the personal loan application status:

       Reference number: Reference number is generated by the bank on the application for the loan. This number is sent to your phone number once you apply. You can even use this number for different stages while tracking the loan application status.

       Mobile number: When you place a loan application, you require providing your number to the bank. Many of the banks permit customers to track the application status with the assistance of mobile numbers. Online tracking mode can be used when speaking to the bank representative.

       Net banking: Existing bank customers can track loan application status through net banking accounts. You require a logging account. You require to log in to the account and check the application status under the loan section.

Features of online loan portal

Most of the top lenders have their own online loan portals. Such a portal is specifically designed to manage the loan. Consumers use such loans and continue tracking the loan application. A few of the loan features are:

       It permits you to see your loan status.

       It comes with a download section wherein you can view as well as download all the certificates and statements.

       It permits the customers to make the EMI payments involving foreclosures.

       It permits the customers to easily update the contact information.

       It assists customers to view the customized offers that are available from time to time.

Conclusion

To sum it up, knowing the loan application status of the loan application might come in handy during different situations. For example, if your application is rejected for any reason, you can begin looking for the funds in other sources straight away after loan status tracking. The different mode provided by lenders for checking your loan status is aimed at ameliorating the transparency linked with the loan process.

FAQs on loan detail status

What details must you keep handy when checking your personal loan application status?

When checking your personal loan application status, you must keep some details handy, such as the reference number of the loan, name, date of birth and phone number. Details you need to check the personal loan status are subject to change from lender to lender. In some of the cases, you may be able to know the status by using your reference number, while in other situations, you may have to generate an OTP and then authenticate using your number to know the status.

The status of the loan application is not displayed on the official online portal. What to do?

In situations where your application status for a loan is not displayed on the portal, you may be recommended to contact the bank via their customer care number. Such numbers usually are toll-free. However, also you can select to approach the branch office for a better idea.

What should you do if the application for a personal loan is turned down?

If your personal loan is turned down, there may be various reasons behind it. NBFCs and banks take under consideration various factors like credit score, other active loan accounts, repayment history and credit history. If the loan application is turned down, there are increased chances that one or more of the loan eligibility criteria has not been met. In these situations, one of the best options is to apply for a secured loan or wait until your score improves and then apply with a higher credit score.

You have lost your reference number for your personal loan application. What can you do to track the loan status now?

You can simply approach the bank for guidance on such matters. On the other hand, you also can use your name along with the registered phone number date of birth to review your personal loan status. You can check the personal loan status directly by either visiting the bank’s website or the bank branch directly. 

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