Also, the minimal documentation makes the entire process very seamless and with everything happening online these days, it has become a lot easier for people to apply for a loan. But what happens after you have applied for a loan? How do you know if your application has been processed or the ETA of the disbursement of the loan amount?
Banks and NBFCs these days have come up with a provision for people to track the status of their loan. You can check the status of your personal loan online and offline.
Track your personal loan online:With everything these days being digitized, it has become extremely easy to keep track of any information. Banks and NBFCs have upgraded functionalities on their websites where you can check at what stage your application is. All you have to do is go to the section of 'Personal Loans' and click on the option to 'Track Your Application'. Once you click on that button, it is a simple process of entering your loan application number or phone number or email id which has been used in the application and finding out the status.
Track your personal loan offline:If you aren't comfortable going through the online portal, you can always reach out to your bank or the NBFC where you have applied for the loan and find out the status. You can either call up the customer care or walk into the nearest branch to find out the status with the necessary documents.
Getting a personal loan in today's times is a cakewalk if you have an excellent credit history, intact CIBIL score and a regular monthly income. It is the best option when it comes to tackling unexpected cash emergencies. But once you avail the loan, make sure to use it responsibly and be extra mindful when it comes to repaying it.
Learn more about your Personal Loan Eligibility here.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
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