How to Check Personal Loan Status Online and Offline: A Complete Guide

Posted on Thursday, October 24th, 2024 | By IndusInd Bank

After applying for a personal loan, waiting for an update is stressful. Even in cases where quick loan approval, the time between application and approval can feel endless. You may want to know whether the bank has received your application, whether verification is complete or when the funds will be disbursed.

Checking your personal loan status helps you understand where your application stands and whether any action is pending from your side. In this guide, we explain the different ways to track your loan status and what common status updates usually mean.

Why Should You Check Your Personal Loan Status?

Checking your personal loan status keeps you informed about the progress of your application. It helps you know whether the bank has received your application, whether any document or verification is pending, and when you can expect the next update.

Regularly checking the status can also help you avoid delays. If the bank requires additional information, you can provide it on time instead of waiting without knowing what is happening with your application.

Details Required to Check Your Personal Loan Status

To track your personal loan application smoothly, you need the following details.

• Application number or reference ID provided at the time of submission
• Registered mobile number linked to your loan application
• Date of birth for identity verification
• PAN card or other KYC details used in the application
• Loan account number, if already generated

Keeping these details handy helps you quickly access updates through customer service, net banking, mobile app, or other official channels.

Ways to Check Your Personal Loan Status

Here’s how you can check your loan status.

1. Check Personal Loan Status Through Customer Service

Keep your application number, loan reference number, and registered mobile number ready before contacting customer service. Use the official contact details provided on the bank’s website, app, or application acknowledgement.

The service team may ask a few questions to verify your identity before sharing an update. If you cannot find your reference number, ask whether the application can be located using other details. Never share your OTP, PIN, password, or full card details with an unknown caller.

2. Check Personal Loan Status via Net Banking

If the status-tracking option is available in your net-banking account, log in through the official bank website and look for the Loans, Applications, or Service Requests section. Provide your details/loan application number to check your loan status.

3. Check Personal Loan Status Through the Mobile App

Open the official mobile banking app and sign in securely. Depending on the services enabled for your account, you may find your application under Loans, Applications, or Service Requests.

Keep the app updated and avoid using links sent by unknown people to download an app or enter your banking details.

4. Check Personal Loan Status via SMS, Email, and WhatsApp

Banks also send application updates to your registered mobile number or email address. Depending on the service, you also receive updates through an official WhatsApp channel.

These messages can tell you whether the application was received, is under review, approved, rejected, or disbursed. Check the sender details and use the bank’s official website if you need to verify a message.

Also Read: What is the Minimum Income Requirement for Applying for a Personal Loan?

Understanding Common Personal Loan Status Updates

The exact wording can differ between lenders, but these updates usually mean:

• Application received: The bank has received your application and created a record for it.
• Under review: Your information, documents, eligibility, or credit profile is being checked.
• Approved: The application has been approved as per the communicated terms.
• Rejected: The application has not been approved.
• Disbursed: The loan amount has been released to the registered bank account after the required formalities are complete.

If there has been no update for a long time, contact the bank with your reference number rather than applying again.

Frequently Asked Questions

Q1. How can I check my personal loan application status?

Use the official customer-service channel, net-banking account, mobile app, or the SMS, email, or WhatsApp updates linked to your application.

Q2. What details do I need to track my personal loan status?

You may need your application number, loan reference number, registered mobile number, date of birth, or other details used during verification.

Q3. Why is my personal loan status showing “pending” for a long time?

The bank may still be checking your documents, eligibility, credit profile, or application details. Contact customer service with your reference number.

Q4. What should I do if my personal loan application gets rejected?

Contact the bank to understand the next steps, if a reason can be shared. You can also check your credit report and review your income and existing EMI obligations.

Q5. Can I check my loan status without a reference or application number?

Contact customer service and ask whether the application can be located using your registered mobile number and identity details.

Q6. Will checking my loan status frequently affect my credit score?

Checking the status of an existing application generally does not affect your credit score. However, submitting multiple fresh loan applications can lead to additional lender enquiries.

Q7. How will I be notified once my personal loan is approved?

The bank may send an update to your registered mobile number or email address and, where available, through an official WhatsApp channel.