Tracking Personal Loan Application Status 

With Fincity, now you can easily check the status of your personal loan application and stay up-to-date on whether you are likely to get the amount credited. Here we describe a few ways you can check the status of your loan.    

There are many ways to keep track of the status of application of your loan. However, the online method is the easiest one for customers, mainly because everything can be done from the comfort of one’s home! Here, all you have to do is visit the Bank’s or NBF’s official website and enter a few generic details. The status will be provided instantly. It saves you the gruesome task of visiting the branch office of the bank to know the status. 

You can track the status of your personal loan by providing the reference number you have received at the time of application. You will receive this number in the form of message from the bank. It is crucial to save this number for future reference. You will also be asked to provide your registered mobile number to receive the application status. 

What does Personal Loan mean? 

Personal Loan may be defined as a short to medium term unsecured loan, that doesn’t need any collateral/security for disbursal. They’re usually disbursed in a few hours to some days with token or no paper work at all. A flexible end-use is the unique selling point of Personal Loans. Thus, this unsecured loan is meant to meet a range of wants starting from emergency medical expenses to planned expenditures like home renovation, wedding, etc. 

You should apply for a Personal Loan because of the subsequent reasons: 

  • No collateral needed: A personal loan is an unsecured loan, therefore you do not any collateral/security to avail a personal loan. 
  • Different types of end-use: A personal loan can be used for a multitude of purposes, unlike a home loan or a car loan, ranging from medical emergency expenses to home renovation. 
  • The minimal mandate of Documentation: The documentation process to avail a personal loan is far simpler and faster than the process to avail a secured loan like a Home Loan. 
  • Debt consolidation: Multiple loans and/or credit card dues can be merged by taking up a personal loan. This will make repayment of debt not only easier but will also help you to save on interest pay-out. 

How to Check Personal Loan Status on Fincity 

It’s easier than ever to track your personal loan status on Fincity. Here are the steps involved: 

1) Visit https://app.fincity.com/ 

2) Login with your credentials 

3) On the homepage of the portal, you can see your Active Application(s). Click on the View Application Button under the application concerned. 

4) Here you can see your personal information, loan application details as well as the loan application status. 

Checking Personal Loan Status on the Official Website of the Bank: 

Please note that every well-known lender offers their customers the option to check the status of their loan application status on their website. You just need a few basic details like the following to know the status immediately: 

  • Application Reference Number 
  • Name 
  • Mobile Number 
  • Date of Birth 

In case the individual does not remember his or her Reference Number, he or she will be required to provide some additional details. These details are listed below: 

  • Applicant’s Name 
  • Applicant’s Date of Birth (DOB) 
  • Name of the product 
  • Amount of loan in the application 
  • Applicant’s Permanent Account Number (PAN) 

Checking the Status of Your Personal Loan Offline 

The most common way to track your personal loan application status is to visit the bank’s branch office. Make sure to carry a valid identity proof and have your personal loan reference number handy. This is the number associated with your application and will be unique to each borrower. Once you share these details with a bank representative, they can easily help you find out how soon you can get the loan disbursed. 

An alternative offline mode for tracking of the application of your personal loan involves contacting the customer care department of the bank. While in contacting a customer service executive, you may raise a query for your personal loan application status. By doing this, you will be able to see the loan application status instantly when you enquire through this mode. 

How to Track Personal Loan Status through Fincity Customer Service 

You can avoid the hassle and time taken to check your personal loan application status altogether by simply calling the Fincity helpline on (+91) 7022987485 and having an expert loan advisor find the details for you. Once you share a few basic information like your loan reference number and mobile number, they can quickly track the status on your behalf. Alternatively, you can also choose to email us at pl@fincity.com to know your loan application status within 48 hours.   

Features of Bank Online Loan Portals 

Many banks and NBFCs have their own online portals to assist customers to manage and track their current loans. Here are a few main features of these portals: 

  • You have the option to track the status of your loan 
  • You can also make payments of the EMI or even request for a foreclosure 
  • You can update your personal contact details 
  • You can download the statements and certificates related to your loan. 

Though these are the primary required details, additional details may also be required, which can vary from bank to bank. 

Advantages of Checking your Personal Loan Application on Fincity Portal 

Here are some reasons to check your personal loan application status on the Fincity portal. 

  • You can check your Credit Score and you can check Report for free. 
  • You have the ability to add a co-applicant for your loan on the portal 
  • You can see exactly which stage your loan application has reached 
  • You can find details of all your loans in one single location 

These steps seem too tedious? Don’t worry, you can avoid these steps by just writing or giving a call to Fincity

Fincity makes life easier! Just call us on (+91) 7022987485 and have an expert loan advisor find the details for you. 

There’s another way! You can also choose to email us at pl@fincity.com to know your loan application status within 48 hours.   

Personal Loan Eligibility Criteria 

A personal loan is given to individuals and not to organizations or businesses. Most of the banks and NBFCs (Non-Banking Financial Companies) offer personal loans to both salaried and self-employed individuals/professionals. The eligibility criteria for a personal loan differs slightly depending on the applicant type. Given below are some of the primary personal loan eligibility factors that need to be kept in mind: 

ParticularsSalariedSelf-Employed
Age 21 – 60 years 21 – 68 years 
Minimum Income Rs. 15,000 per month Rs. 5 lakh per year (gross) 
Employment stability Total experience– Minimum 2 years Experience in the current organization- Minimum 1 year Minimum 2 years in current business 
Minimum Credit Score >750 >750 

*The personal loan eligibility criteria mentioned above are of a generic nature. Actual eligibility factors and criteria will differ from one provider to another. 

Interest Rates 

An interest rate is the proportion of principal charged by the investor for the borrowing of its cash. The principal is the quantity of cash loaned.  

An interest rate can either be the worth of cash borrowed or the incentive for saving the same. It’s calculated as a proportion of the quantity borrowed or saved. 

Interest Rate Comparison 

The percentage of Interest may differ across the providers. The below table is a comparison of the personal loan interest rates of a few leading banks and NBFCs in India: 

ProvidersRate of Interest (p.a.) Amount Loaned (Rs.) 
Allahabad Bank 9.05% onwards As per customer profile 
Andhra Bank 8.90% onwards Maximum 15 lakhs 
Axis Bank 10.49% onwards 50,000 up to 15 lakhs 
Bajaj Finserv 12.99% onwards Up to 25 lakhs 
Bank of Baroda 10.50% onwards 50,000 to 10 lakhs 
Bank of India 9.35% onwards Up to 10 lakhs 
Bank of Maharashtra 9.55% onwards Up to 10 lakhs 
CASHe 33% onwards 9,000 to 3 lakhs 
Central Bank 8.45% onwards Up to 20 lakhs 
Citibank 9.99% onwards 10,000 to 30 lakhs 
Early Salary 24% onwards 8,000 to 5 lakhs 
Federal Bank 10.49% onwards Up to 25 lakhs 
Fullerton India 11.99% onwards Up to 25 lakhs 
HDFC Bank 10.75% onwards 50,000 to 40 lakhs 
Home Credit 24% onwards Up to 2.4 lakh 
HSBC Bank 10.50% onwards Up to 30 lakhs 
ICICI Bank 11.25% onwards 50,000-20 lakhs 
IDBI Bank 12% onwards 25,000-5 lakhs 
IDFC First Bank 10.75% onwards 1 lakh-40 lakhs 
Indiabulls 13.99% onwards Rs.1000 to Rs.15 lakhs 
Indian Bank 9.05% onwards As per customer profile 
Indian Overseas Bank 10.30% onwards Up to 15 lakhs 
IndusInd Bank 11% onwards 50,000 – 15 lakhs 
Kotak Mahindra Bank 10.75% onwards 50,000 – 20 lakhs 
Kreditbee 1.02% p.m. onwards 1000 – 2 lakhs 
Moneytap 1.25% p.m. onwards Rs. 3000 to Rs. 5 lakhs 
Moneyview 1.33% p.m. onwards Rs.10,000 to Rs.5 lakhs 
Muthoot Finance 13.50% onwards Rs. 50,000 onwards 
Punjab National Bank 8.95% onwards 25,000 to 15 lakhs 
RBL Bank 14% onwards 1 lakh to 20 lakhs 
Standard Chartered Bank 11.00% onwards 1 lakh to 50 lakhs 
State Bank of India 9.60% onwards Up to 20 lakhs 
TATA Capital 10.99% onwards 75,000 to 25 lakhs 
UCO Bank 8.70% onwards Up to 10 lakhs 
Union Bank of India 8.90% onwards Up to 15 lakhs 
Yes Bank 10.99% onwards 1 lakh to 40 lakhs 

How to Calculate EMI 

An EMI calculator does its work on the basis of a few parameters. They are: 

  • Loan Amount: This refers to the personal loan principal borrowed from any bank. Generally, a higher loan amount results in higher EMI, if the interest rate and tenure are kept constant. 

Fincity offers personal loan for amounts as low as Rs. 50,000 and as high as Rs. 50 lakhs. 

  • Loan Tenure:  Loan tenure is the duration over which a personal loan is repaid. For a personal loan, the tenure currently varies from 12 to 72 months. In practice, a shorter tenure results in higher EMIs, but helps you save on the total interest pay-out of the loan.  
  • Interest Rate: A higher rate of interest typically leads to higher EMI pay-outs over the loan tenure. 
Loan AmountInterest RateEMI for 1 Year Loan Tenure (Rs.) EMI for 2 Year Loan Tenure (Rs.) EMI for 3 Year Loan Tenure (Rs.) EMI for 4 Year Loan Tenure (Rs.) EMI for 5 Year Loan Tenure (Rs.) 
1 lakh 10.50% 8,814 4,637 3,250 2,560 2,149 
2 lakh 10.75% 17,653 9,298 6,524 5,144 4,323 
3 lakh 10.50% 26,444 13,912 9,750 7,681 6,448 
5 lakhs 11.00% 44,190 23,303 16,369 12,922 10,871 
10 lakhs 10.50% 88,148 46,376 32,502 25,603 21,493 

So quickly apply for a Personal Loan with Fincity. 

Fincity has a plethora of options to choose from – Banks to Interest Rates. Be spoiled for choice here! 

Fincity – Feel at Home 

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I hereby declare that I have read the consent. and I appoint and allow FINCITY to access my credit information from Credit Information Companies in order to understand my creditworthiness and thereinafter provide personalized values that would help them generate the Credit Information Report, Credit Score, and Credit Analysis. I/We hereby authorize FINCITY & its affiliates including banking partners to call or SMS and/or WhatsApp with reference to my application or in relation to any of FINCITY products, notwithstanding anything to the contrary that may be contained anywhere, including any registration for DNC/ NDNC.

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