You may check your personal loan status online by visiting the lender’s website or contacting the lender through email, chatbot, SMS or mobile app.
All financial institutions seek basic information such as the applicant’s registered mobile number, PAN, date of birth or application number before providing him with an update.
Your personal loan status will reveal whether your loan is approved, pending documents or has been rejected. In addition, the status helps you act accordingly if the lender seeks additional information.
What is a Personal Loan Application Status?
It reveals the current stage of the loan process after submitting an application to the lender. The status informs you about the loan approval, documents pending or whether it has been disbursed. It will also indicate whether your application is under consideration or approved.
Since financial institutions evaluate various parameters such as your identity, income, credit score and repayment capacity before disbursing funds, it might change at various stages of the process.
In simple terms, the status changes according to the progress of the personal loan application. Some of the common statuses that borrowers encounter include:
- Application submitted
- Under review
- Documents pending
- Loan approved
- Loan disbursed
- Loan rejected
By checking your loan status, you will be in a position to know its current stage. This way, you will be able to prepare ahead of time in case you urgently require funds for medical treatment, traveling or education among others.
How to Check Your Personal Loan Application Status Online?
Below are easy ways through which you can check your personal loan status online.
1. Visit the Lender’s Website
Majority of the lenders allow borrowers to check loan status through their website.
Steps to check personal loan status on Fibe’s website
- Log onto the official Fibe website
- Navigate to the “Personal Loan” or Login section
- Enter your registered mobile number or login details
- Authenticate by entering the OTP sent to your registered mobile number
- Click on ‘loan’ or ‘applications’ tab
- View your personal loan status
In some cases, you may also find out your approved amount, repayment period and EMI payable.
2. Use the Personal Loan App
One of the best methods of tracking your loan status is using the mobile application provided by your lender.
Steps to check personal loan status on the Fibe App
- Open the Fibe app on your device
- Provide your login credentials (mobile number)
- Verify using OTP
- Tap on ‘loan’ or ‘my applications’ tab
- Select your ongoing personal loan application
- Check your personal loan status
In addition, the app will also show whether there are any documents pending or other steps to complete in order to expedite the loan process.
3. Contact the Lender Through Chatbot/Email
Alternatively, you may also check your personal loan status by sending an email or chatting with customer support on your lender’s website.
When reaching out to customer support, it is wise to provide the following information:
| Information to provide | Purpose |
|---|---|
| Registered mobile number | Identifying your account/application |
| Full name | Matching records held by the lender |
| Loan application/reference number | Speeds up status tracking |
| PAN or DOB, if required | Verifying your identity |
Example query: “Hello, I applied for a personal loan using my registered mobile number XXXXXXX123. Kindly check my current application status”.
Avoid giving your personal information such as your password and OTP.
4. SMS/Email Updates From Your Lender
Lenders may also update your loan status via email and SMS.
Some of the common notifications you may receive from your lender include:
- Notification of receipt of your application
- Update on documents required or pending
- Notification regarding loan approval or rejection
- Loan agreement link
- Loan disbursal notification
- Notification of the loan repayment schedule
Make sure that you check all your emails (inbox/spam/promotion).
How to Check Personal Loan Status Offline?
If online methods are unavailable, then the following are easy ways through which you may track your application status offline.
1. Visit Your Branch
Visit the nearest branch of the lending institution if you want to check your personal loan application status. Take your ID proof such as Aadhar card or PAN card with you.
The following details may be required at the branch:
- Registered mobile number
- Date of birth
- Loan application/ref number
2. Contact Customer Care Team
Alternatively, you may call the official phone numbers of the lender to check your application status. Lenders usually provide customer care contact information on their website and app.
Before calling, it is advisable to have the following information handy:
- Your name
- Date of birth
- Mobile number
- Application number
The telephone service will assist you when the status is pending, delayed or unclear.
Details Needed to Check Personal Loan Application Status
Below are details you may be required to have while checking your personal loan status.
| Details to have | Purpose |
|---|---|
| Name | Matching your application record |
| Mobile number | Logging into your account |
| PAN number | Matching the records held by the lender |
| Loan application number | Helping trace the right application |
| Date of birth | For identification purposes |
| Registered email ID | Helps locate communications from the lender |
Having this information will ease your loan status inquiry.
Common Terms Used to Describe Personal Loan Application Status
| Status | Meaning |
|---|---|
| Application submitted | You have successfully filed your loan application |
| Documents pending | You need to provide additional documents |
| Application reviewed | Application verification process |
| Application rejected | Lender declines your personal loan application |
| Loan agreement pending | Sign the agreement in order to continue the process |
| Loan approved | Your application has been approved |
| Loan disbursed | Money is credited into your bank account |
Why Should You Track Your Personal Loan Status?
The main reason for checking your personal loan status is staying updated regarding the loan process. It enables you to know whether your application has been rejected, approved or the funds are already available.
Other benefits include:
- Getting loan approval quickly
- Being alerted to missing documents
- Understanding when funds will be available
- Avoiding late fees on repayments
Accordingly, ‘the faster you respond to pending requirements, the easier your loan journey’.
Check Personal Loan Status with Fibe
From the above explanation, you know how to check your personal loan status either online or offline. Use whichever method that suits you and your lender.
On Fibe, you can track your loan application status after creating your personal loan account. After logging into the application, go to the loan tab and view your personal loan application status.
FAQs on Personal Loan Application Status
1. How soon can I get my personal loan approved?
Approval period varies from one lender to another. Majorly, lenders take several days to disburse the loan but the process might be quicker for online loan providers such as Fibe.
2. Can a personal loan application be rejected?
Yes, the lender can reject your personal loan application if you do not qualify for the requested funds. Reasons for loan rejection include having a low credit score, insufficient income, lack of documentation or errors in detail provided.
3. How can I get my personal loan approved quickly?
Applying for a personal loan using an online lending platform makes the process faster since lenders do not conduct manual processing. In addition, you must have your documents ready for submission upon the lender’s request.
4. How can I check my personal loan status?
You can use several ways to track your loan status, including:
- Using your lender’s website/app
- SMS/Email notifications from your lender
- Chatbot or email inquiries
- Calling your lender
5. How can I use my PAN card to check my personal loan status?
You can check loan status through the website or app by entering your PAN along with other details such as your registered mobile number and date of birth.
6. What does “under review” mean for personal loan status?
Your loan application is under review if the lender is considering it for approval.
7. Can I check personal loan status without using the application number?
Yes, some lenders let borrowers use other ways such as their registered mobile numbers or emails in place of the application number.