How to Track Personal Loan Application Status Online?

Steps to Check Personal Loan Status Online

Tracking your personal loan application status online is quick and hassle-free. Most lenders offer online tools to check the status, ensuring transparency and convenience. Follow these simple steps.

Steps to Check Personal Loan Status Online

1. Visit the Website – Go to the official website of Hero FinCorp.
2. Log in or Enter Details – Use your application number, registered mobile, or email ID.
3. Navigate to Loan Status – Find the ‘Track Loan’ or ‘Application Status’ section.
4. Verify Your Identity – Enter OTP or other required details for authentication.
5. Check Status – View your application progress: Approved, In Progress, Rejected, or Disbursed.

You can also check via net banking, mobile apps, or customer support for updates.

How to Check Your Personal Loan Status via Customer Service

If you prefer offline assistance, you can check your personal loan status by contacting customer service. Follow these simple steps.

Steps to Check Your Personal Loan Status with Customer Service

1. Call Customer Care – Dial the official customer service number- 1800 102 4145.
2. Select Loan Inquiry Option – Follow the IVR menu to choose the loan status option.
3. Provide Loan Details – Share your application/reference number and registered mobile number.
4. Verify Identity – Answer security questions or provide OTP verification.
5. Receive Loan Status – The representative will inform you about your loan’s approval, processing, or disbursement status.

For quicker updates, note down your application details before calling.

Different Methods to Check Personal Loan Status

Personal Loans are lifesavers, whether a borrower plans to use them for higher education, throw a lavish wedding, clear prior debts, pay medical bills, or handle other financial emergencies. While the applicants have their fingers crossed for the loan to get approved, it’s important to get real-time updates on loan status without visiting our office in person. Those thinking, “how can I check my loan status”, here are different ways they can use:

• Calling the Customer Care Centre: Once you have applied for a loan, applicants can contact our representatives by calling our customer care centre. While calling, they must keep their personal and application details ready to complete the conversation. Some NBFCs allow applicants to know their Personal Loan application status via IVR, some allow one-to-one conversation with a customer representative, and others support both. We allow applicants to call any day during working hours except Sundays and public holidays.
• Connect on WhatsApp: Knowing how to check your Personal Loan status helps appease anxiety amid a busy schedule. We allow applicants to get in touch with their representatives by sending a ‘Hi’ on our WhatsApp number. Once the applicant connects through chat, the representative chats with the applicant and helps them resolve their queries, including loan status.
• Sending a Query by Email: After submitting a loan application, the applicant can get in touch with our customer care centre by sending an email. Mention all the crucial loan details in the email, especially the application ID, contact details, date of birth, etc. The customer care department will reply to the query that the applicant is waiting to hear back on.
• Downloading the Mobile App: We have an advanced loan app that allows customers to apply for a loan, check loan status, accept the loan offer, pay EMIs, calculate EMIs, and do many other things. Download the Hero FinCorp Retail Customer Service App (RCSA) to get regular updates from your loan account, track the status of your loan application or your EMI payments, or make real-time payments. One can also update important details and download necessary documents as per their need.

Also Read: What Hidden Charges Should You Expect with Personal Loans

Different Loan Application Status and Their Meanings

Understanding your loan application status helps you track progress and take necessary actions. Here’s what each status means:

• Application Received – Your application has been successfully submitted.
• Under Review – The lender is evaluating your eligibility and documents.
• Additional Information Required – More details or documents are needed for processing.
• Approved – Your loan has been sanctioned.
• Rejected – Your loan application was declined.
• Disbursed – The loan amount has been credited to your account.
• Closed – Your loan is fully repaid and settled.

What Happens if the Applicant Forgets the Application Number?

The applicant gets an application number when they apply for a loan. They can use this number for various purposes, including checking the loan status. However, many need to learn what would happen if they forgot their application number or cannot track it.

If an applicant forgets to note the application number or loses it anyhow, they can check their status using any of the information below:

• Mobile Number: Applicants provide their mobile number to the NBFC while applying for a loan. They use this number for further communication, OTP, important messages, special offers, etc. If the applicant loses the application number, they can ask the NBFC’s representatives to check the application status using their phone number. They have the applicant’s mobile number in their records and can quickly check the loan status.
• Net Banking: In the case of banks, customers can track their loan application status through their net banking account. They must log in to the account and track their application status under the loans section.
• Email ID: Many NBFCs identify their customers through their email IDs. Emails stay saved in their records, which they can refer to at any time for tracking the loan status. Send an email through the same email ID and request the application status in real-time.

Applying for a loan and waiting for its approval is a process full of anxiety and nervousness. Loan seekers can shorten this duration by maintaining a high credit score, checking loan offers, reducing the DTI ratio, and retaining the old job for a long before applying. Those with high credibility are low-risk borrowers who often get faster approval than others.

Also Read: When Should I Get a Personal Loan

How to Avail Personal Loan Via Hero FinCorp?

Hero FinCorp offers quick and hassle-free personal loans with minimal documentation. Follow these steps to apply for a loan effortlessly:

1. Visit the Hero FinCorp website or install the loan app.
2. Go to the Personal Loan page and click ‘Apply Now.’
3. Enter your mobile number and verify with the OTP received.
4. Choose the loan amount you need.
5. Verify your KYC details to check income eligibility.
6. Click ‘Submit’ to complete your application.

Conclusion

To sum up, knowing how to check loan status online is useful in various situations. For example, if the loan application for the best personal loan for low-income individuals gets rejected for some reason, the applicant can start exploring other funding options immediately after checking the personal loan application status. Using a convenient mode to track the loan status helps improve transparency during the lending process.

Frequently Asked Questions