Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

How To Check Personal Loan Status?

Published on Dec 31, 2019Updated on Feb 19, 2024

How To Check Personal Loan Status?

How to Check your Personal Loan Status Offline

You also have the option of going to the location of the financial institution where you applied for the loan in person. You have the opportunity to talk to the loan officer in person and find out the current status of your loan application. For the purposes of verification, you will be asked to submit the number associated with your loan application as well as additional facts.

The time period between the application for a loan and the approval of the loan can bring a truckload of anxiety. In the application process, you made sure you that you comply with all requirements and furnish all the required paperwork. You double-checked that your CIBIL report, a summary of your credit history, is also decent in order to increase your chances of availing the loan. Now you are waiting with bated breath as you wait for the approval confirmation.

How to Check your Personal Loan Status Through Customer Service?

You are free to contact the customer service department of the financial institution where you have a pending personal loan application. You may inquire about the current status of your application with the customer service representative. Please be prepared to provide your loan application number and additional information for verification purposes.

Personal Loans are often lifesavers, whether you are planning to use the funds for your higher education, for throwing a lavish wedding, for clearing out prior debts, or if it is a medical or financial emergency. No wonder you have your fingers crossed for the loan application to be approved and for the funds to be disbursed. You can now get a real-time update on your personal loan application status without having to visit the office in person by getting in touch using any of the following modes:

1. Call Customer Care

You can reach us at our toll free number 1800 103 6001. Keep the application and your personal details ready to have the conversation. You can choose to know your loan application status via IVR or, if you prefer the personal touch, speak with a customer care representative. You can call at any time between 9:00 AM – 7:00 PM on all days except Sundays and public holidays.

2. Missed call

In order to appease your anxiety amid a demanding schedule, you can also choose to get in touch with SMFG India Credit via a missed call. Give us a missed call at 9594763763, and within 24 working hours, you will receive a call back from us.

3. Email a Query

You also have the option to get in touch with our customer care department for your queries concerning a loan you are waiting to hear back on, by sending an email at  . Mention all important details, especially your Application Lead ID, Date of Birth and Mobile Number.

4. Chatbot (Dia)

SMFG India Credit also provides you with modern ways of communication. With our chatbot DIA, you are welcome to have a superior customer experience. All your concerns about your loan application status can be addressed 24*7.

5. Download Mobile App/Login to Portal (For Existing Customers)

If you are an existing customer, the loan application status can also be checked at SMFG India Credit mConnect, the official app for SMFG India Credit customers. Or you can login to your SMFG India Credit account on the website, and see where you stand. If you have applied for the loan using SMFG India Credit InstaLoan mobile app, you can use the same to track the status of your application. SMFG India Credit’s SMFG India Credit InstaLoan app is a smart, easy to use app which enables you to apply for personal loans at competitive interest rates and with minimal documentation from the comfort of your home.

What happens in case you forget your loan Application Lead ID or aren’t able to track it? Even though the Application Lead ID is a piece of very crucial information in order to check the status of your loan, you can still message, mail or call our customer care and explain the situation to one of our representatives.

We will verify your credentials like name, father’s name, date of birth, registered mobile number and any other details present on the loan application form, and track your loan status from our end.

Whether a customer care executive gives you an update or a chatbot, you can rest assured that there is always an option to monitor the status of your personal loan application right from the comfort of your home.

Different Methods of Tracking your Personal Loan Status

Monitoring your personal loan application is crucial. Personal loan status tracking methods:

  1. Check Online: Most financial institutions offer online loan application status tracking. Enter your loan application number, date of birth, and other details on their website. Your loan application status will be displayed.
  2. Contact Customer Care: Ask the institution's customer service about your personal loan application. Verification requires your loan application number and other information.
  3. Visit the Branch: You can also inquire about your loan application at the location where you applied. Verification requires your loan application number and other information.
  4. Mobile App: Some financial institutions offer mobile apps to track loan applications. Download the app and log in with your loan application number and other details.

To avoid delays, follow your personal loan application. Track your loan application status anyway you like.

* Please note that this article is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us

FAQs

How do you know if your personal loan is approved?

  1. Check Application Status Online: Many financial institutions offer online portals to check loan application status. To check your application status, log into the website or app.
  2. Call Customer Care: Ask the lending firm about your loan application's status. Verification requires your name, loan application number, and date of birth.

How many days does it take to get a personal loan approved?

It depends on the lender and how they run their business. A personal loan can usually be approved in anywhere from a few hours to a few days. Some lenders may give approvals right away, while others may take longer to process the application and make sure all the information is correct.

How can I check my personal loan status in a mobile app?

First, download the app of the financial institution from whom you requested a personal loan. Steps after downloading the app:

  1. Sign into the app.
  2. The app menu should have a "Loan" option.
  3. In "Loan," you can view your active loans and their status.
  4. Choose the loan to verify its status. The app should show loan details and status.

If you have applied with SMFG India Credit’s Instant Loan app, check your personal loan status here.

Why is my loan application taking so long?

Several factors may be delaying your loan application:

  1. If the lender hasn't received all the required paperwork or they're incomplete, it may take longer to process your application.
  2. Lenders check job, income, credit score, and may also require third-party verification.
  3. Technical difficulties or software issues might delay loan applications.
  4. If the lender is unsatisfied with your creditworthiness, they may delay or reject your application.

What happens if the loan is not approved?

If your loan application is not approved, it could be due to a variety of factors such as a low credit score, high debt-to-income ratio, insufficient income, lack of collateral, or missed payments. In such cases, you will typically receive a rejection letter or email explaining the reason for the denial.

To improve your chances of getting approved for a loan, it's important to review your credit report and identify any errors that may be negatively impacting your score. Once you've corrected any errors, consider applying with a different lender or exploring different loan products that may be a better fit for your financial situation.

It's also a good idea to reflect on why you chose SMFG India Credit as your preferred personal loan provider

Why do banks reject loan applications?

  1. Loan applications may be denied if you have bad credit.
  2. Lenders may reject your loan application if your income is low or unreliable.
  3. Employment status and work stability matter too. Self-employed or short-term contract workers may be rejected.
  4. High debt-to-income ratio can lead to rejection.
  5. A firm may reject a loan application with incomplete or faulty information.

If you have been rejected for a loan by a traditional bank, you may want to consider applying for a loan with a non-banking financial company (NBFC) like SMFG India Credit. Apply here.

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