How to Track Your Personal Loan Status?

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After submitting a loan application, individuals often want to know if it has been accepted by the lender. The applicant is uncertain about the status of the loan. He remains unsure of what steps to take next. So let’s continue reading to find out how to follow your personal loan application.

Required Information to Track Personal Loan Status

Having the appropriate documents and information is essential for smooth and effective loan application tracking. You will need the relevant details to authenticate your identity and loan application. Here’s what you need to track the status of your loan.

Reference Number or Application

When you apply for personal loan, your application is linked to this special number. It serves as a point of reference for the lender to follow your application. This number is on the hard copy of your application form or the email you received upon confirmation of your application.

Phone Number

It’s important that you provide the phone number you mentioned on your application. Lenders frequently use SMS alerts for verification or to send notifications. Verify that the phone number is operational and receives incoming messages.

The Email Address

Your email address is essential for electronic correspondence. Lenders will provide updates, confirmation emails, and also digital copies of the loan agreement. Check your spam and inbox for emails to make sure you don’t miss any important changes.

Date of Birthdate (D.O.B.)

Your date of birth is one of the common verification criteria. It aids in identity verification for the lender and guards against illegal access to loan details. Make sure that the date of birth you have entered matches the one provided in your application documents.

Government ID

Keep a valid government-issued identity document, such as an Aadhar card, passport, or driver’s licence. Lenders may want you to submit proof of identity for verification. Verification can go more quickly if you have a clear, scanned copy of your ID.

Date of Application Submission

Make a note of the day you sent in your loan application. It would be helpful to keep this information in mind when you’re talking to customer support agents about your application. It makes it easier to create a schedule for the application process.

Terms and Amount of Loan

Obtain information on the loan amount along with the terms of repayment, such as the interest rate and tenure. This data is essential for confirming the accuracy of your loan application and making sure that the updates match your original request.

Methods to Track Personal Loan Status

There are various ways to track a personal loan application status. Let’s look at them in detail.

Tracking Personal Loan Application Online 

The most efficient method to follow the progress of your loan application is to check the lender’s official website. The majority of banks and NBFCs offer a separate section for it. It just has to be filled out with the following details. 

  • Complete Name of Applicant
  • Date of Birth, PAN card, Registered Mobile Number, and Loan Reference or Registration Number, if any
  • Any additional special number that the lender provides

Offline Tracking of Personal LoanStatus  

Although this strategy is not the most efficient one, many clients still continue to use it. You have to visit the lender’s branch office to find out the progress of your application. You must bring the reference number you were given at the time of application with you. To prove your identification, you must also have a legitimate identity document. After you have provided these details, you may track the progress of your personal loan application with the assistance of a representative.

Check Personal Loan Status with Customer Care

You may also track the progress of your loan application with a lender’s customer care. To find out your loan status, you may email or call the customer support team. You must provide the reference number and your registered phone number. Here, you can track your loan status in a matter of seconds. If you send an email, make sure you include all the necessary information. The lender should respond to your inquiry within a short amount of time. 

Conclusion

One of the major steps you can take to reach your financial objectives is to apply for a personal loan. To ensure a smooth application process, stay informed and use available tracking options. It is important to remain proactive. This will help you to receive the funds quickly. You can check your loan application online. You can also visit the branch or call customer care to get the details. However, online tracking is the most convenient way to track a loan status. Nowadays, firms like Fibe provide all the information online on their website or instant loan app. You can check your loan application status whenever you want. This saves both time and effort. 

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