Personal Loan in Hyderabad: How to Check Your Personal Loan Status?

Personal loans may be required for various reasons, including home improvement, unexpected medical expenses, marriage, a child’s schooling, or debt consolidation. The advantage of a personal loan is that you may rapidly apply for one online. A personal loan is processed and approved within a few hours to a day and is unsecured. Therefore, no collateral is needed.

A personal loan in Hyderabad can help you achieve your short-term objectives. Most financial institutions ensure that when a consumer applies for a loan online and completes the entire end-to-end digital process, they do it without any problem.

These days, with the fastest response times in the industry, a personal loan finance company provides quick personal loans. It takes a little time to get the loan approved and disbursed. In fact, personal loan finance companies offer completely paperless personal loans with low-interest rates and repayment terms of up to 60 months.

Most lenders streamline the entire loan application process, from the initial application through the sanctioning and payout of a loan, whether done online or off. Nevertheless, the eligibility requirements and supporting documents change depending on the application and circumstance. In these circumstances, you might need to know your personal loan status to determine whether the loan has been granted or denied.

Checking the Status of A Personal Loan Application Online

Almost every applicant becomes curious to know whether their loan has been granted, denied, or is still being processed after submitting their loan application to the bank or lender. Without knowing the loan status, the applicant remains in a predicament for further action. Let’s continue reading to learn how to track your personal loan application both online and offline.

One way to check the loan status is online. The applicant can perform a self-check online to know the loan status. For instance, some lenders offer a loan checker on their customer portal or a mobile app that lets you know your personal loan status.

When using a customer portal, you must:

• Visit the lender’s official website.
• Next, input your User ID and Password by clicking the “Log in” option. You must also enter your registered mobile number and birthdate to access the customer site.
• Once logged in, you must select “Products and Services” before selecting “Check loan application status.”
• You will be taken to a screen where you must select the product and enter the security code and loan application number to receive a one-time password on your mobile device.
• You will be able to see the status of your personal loan once you have validated your information.

Note:

The best option to verify the progress of your loan application is to go to the lender’s official website. The majority of banks and NBFCs offer a separate section for this that needs to be filled out with the following information:

• Full Name of the Applicant
• Date of birth of the applicant
• PAN card details
• A registered mobile number, if applicable
• Any other unique number provided by the bank

Checking the Status of A Personal Loan Application Offline

There are several ways to track the status of a personal loan, such as – You can call customer service, or you can contact the hotline or toll-free number of the personal loan finance company to find out the status of your loan.

Also, to find out the current status of your loan, you can speak with the customer service representative. However, when speaking to the customer service representative, you must have the loan reference number for this purpose for the customer service representative to verify. You can check the status of your personal loan by going to the lender location that is closest to you.

Closing Thoughts

When a person applies for a personal loan in Hyderabad, they would want to know he status of the loan application. Customers can independently track the status of their applications for personal loans to understand better when to expect the funds.

To verify the status of a loan, the applicant can either access the customer portal of the personal loan finance company or use the loan tracker. Or you can go to the lender’s branch office. Customers who prefer WhatsApp banking can track their loan applications by sending messages to specific phone numbers.