Check your Personal Loan Status by using an Instant Loan App

Personal Loan Status

A personal loan is an impressive borrowing solution offering individuals the much-needed assistance when in dire need of money within the least possible time. Besides, personal loans come with no end-use restrictions, allowing borrowers to utilize funds for different high-end expenses, such as weddings, higher education, medical emergencies, etc. 

Keeping the popularity of this credit facility in mind, several financial institutions allow borrowers to check their personal loan status online

Stepwise guide to check personal loan status online

Reputed lenders like Bajaj Finserv offer a personal loan of up to Rs. 25 lakh, where borrowers do not have to pledge collateral and can fund their monetary requirements on simple loan terms. Individuals can visit the lender’s official website, check the status of their applications, and keep track of them.

If you have applied for a loan from leading financiers like Bajaj Finserv, there are multiple ways to check the application status. Applicants can either visit the branch or check the status through a web portal or app.

 Following is the stepwise guide to check the loan application status: 

Through the selected lender’s customer portal:

Step 1- At first, visit the official website of the respective lender and select ‘My Account’

Step 2- Then select ‘Customer Portal’

Step 3- You will be redirected to the lender’s customer portal login page, where applicants have to input their login credentials 

Step 4- Next, select ‘Track application’

Step 5- Enter the registered mobile number and click on ‘Generate OTP’

Step 6- Now input the received OTP to view the personal loan status online

Applicants can save time by applying for a personal loan online and checking the status conveniently. After loan approval, one can keep a tab on the outstanding balance and interest component.

Undoubtedly, smartphones have become an integral part of our lives. From online transactions to computing EMIs, mobile applications are the most convenient way to complete any task within a minimum time. 

For the convenience of customers, financial institutions have developed mobile applications that allow borrowers to apply for digital personal loans, check application status, and more.

Check personal loan status through the selected lender’s mobile application:

Step 1- Firstly, applicants need to download the respective lender’s app from Google Play Store or the App Store

Step 2- Login with the customer ID or registered mobile number

Step 3- Authenticate with the OTP sent

Step 4- Select’ Customer Type’, i.e. existing customer or new customer

Step 5: Select employment type, i.e. salaried or self-employed

Step 6: Now, applicants can choose from the various personal loan offers, see details associated with the loan, etc

Step 7- Under personal loans, select ‘See Details’ to check the personal loan status and track the application status

The options might differ based on the application and size of the app; therefore, one must follow the instructions carefully on the web portal to avoid any complications. Moreover, one can conveniently check the loan statement through an instant loan app anytime and anywhere.

Apart from these, individuals can track their personal loan status through the following offline methods:

  1. Tracking loan applications through customer care

Step 1: Search for the customer care number of the chosen lender

Step 2: Here, applicants can address their financial queries and check loan application status by dialling the customer care number

  1. Tracking loan application through lender’s branch

Apart from knowing how to apply for a personal loan, individuals must follow their application status by visiting a financial institution’s branch.

Step 1: Look for the officer-in-charge

Step 2: Address necessary queries and provide relevant details

Upon completing the process, individuals will be provided with essential information about their application status.

However, before choosing the right personal lender for you, know the eligibility parameters laid down by the respective lender to avoid application rejection.

By meeting the eligibility parameters diligently, individuals will have the opportunity to negotiate competitive personal loan interest rates. Apart from the benefit of checking loan status conveniently through a web portal or mobile app, individuals can also avail of pre-approved offers extended by these leading NBFCs on a wide range of financing options such as personal loans, business loans, etc. Individuals can check their pre-approved offers by mentioning their essential credentials.

Therefore, by following the methods mentioned above, one can quickly check their personal loan status.

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