HDFC Personal Loan Status: Track Application & Check Active Loan
HDFC Bank allows you both online and offline modes to check the status of the personal loan application. You can regularly stay up-to-date with the application status of the loan through the any of the different ways offered by HDFC bank. The customers can reach out to the customer care department of the bank for any queries related to personal loans.
HDFC offers Personal Loans to borrowers to easily tackle any financial crisis that comes their way. They offer up to Rs.40 lakhs as personal loan with a flexible tenure that goes up to 60 months. However, there are a number of criteria an applicant needs to meet in order to be for an HDFC Personal Loan.
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 a number of ways to keep track of your loan application status: However, the easiest method of the lot is the online method. Here, all that is required from you to do is just visit the website of the HDFC bank and enter your details. The status will be displayed immediately. This saves you the trouble of manually visiting the branch office to know the status.
You can track the status of your personal loan by providing the reference number you that you would have received at the time of application of the loan. You can also receive this number in the form of an SMS from the HDFC bank. It is crucial to save this number for future reference. You must also provide your registered mobile number that you would have provided while applying for the loan to receive the application status.
Checking Your HDFC Personal Loan Status Online Using HDFC Bank Account
While applying for a loan with HDFC Bank, you generally give your mobile number to the bank. This is needed as going down the line, all or any communication with the application will be done through this number. Therefore, HDFC bank provides a simple way for customers to keep track of their personal loan’s application status of their loan with just with the help of their mobile numbers.
- Login using your credentials of your HDFC Bank account on the website.
- Click on ‘personal loan’ tab, you will come across the personal loan page with all the information about your personal loan.
- On this page, you will find something of a ‘floating menu’ at the bottom of the page and then click on ‘track personal loan request’.
- On selecting it, a new page will open requesting your mobile phone number.
- You will be required to enter your mobile number and then enter the verification code sent by to your number by HDFC bank.
- On successful verification of the code, the status of your personal loan will instantly be provided by the bank.
Checking your personal loan application status using your reference or proposal number
- Click on the below mentioned link https://leads.hdfcbank.com/applications/misc/LST/loantracker.aspx
- You have the option to either enter the name of the applicant or the reference/proposal number. You will then be required to enter either the date of birth or the mobile number of the applicant.
- You will then have access to check the status of your personal loan.
Checking the Status of your HDFC Personal Loan through the HDFC Mobile App
HDFC bank also has a mobile app for use for its customers. Customers can make use this app for a variety of reasons, like checking their account balance, credit card balance, etc. This app can come in handy in tracking the status of your loan. HDFC has another app solely for managing its loans. You can download the HDFC Loan Assist application from Google Play to have a track of your loans. Mentioned below are the steps to use this application:
- Upon successfully downloading the application, you have an option to check out the list of loan products offered by HDFC Bank.
- However, if you have already applied for a loan, you can choose the personal loan option in this app and check your application status.
- Once you have provided the necessary details, the status of your loan application will be provided to you.
Checking the Status of HDFC Personal Loan Offline
Apart from the convenient online methods mentioned above, the bank also offers a few offline methods for customers to check the status of their loans. One of the best ways to do this in an offline way is by just paying a visit to one of the branch offices of HDFC. Almost all the top cities in India have the branches of HDFC Bank in various locations. When you visit the branch office, you may need to provide the reference number that was provided to you at the time of your loan application. With this application number, any official of HDFC Bank will easily be able to provide you the status of your loan.
You can also have the option of availing the services of the bank’s customer service department to check the status of your loan. Just dial the toll-free number 1800 258 3838 to reach out to the customer service department of HDFC bank.
How to Get a Pre-Approved Personal Loan from HDFC?
Existing customers with a good credit history can get a pre-approved personal loan from HDFC Bank. First the bank runs an initial analysis of the customer’s financial standing, and then checks their repayment history. If you are an HDFC Bank customer with a good savings history, account bank balance, and a good repayment record, then you should not have a problem in securing a pre-approved loan from the bank.
HDFC Personal Loan Eligibility Criteria
Here we lay out a few criteria a borrower needs to remember when they apply for an HDFC Personal Loan.
- The applicant must be at least 21 years old at the time of application and a maximum of 60 at the time of loan maturity.
- The applicant must be a salaried employee of a private limited company or public sector undertaking (including central, state and local bodies)
- Minimum net monthly income must be Rs.20,000 if living in metro cities such as Delhi, Bangalore, Mumbai, Hyderabad, Chennai, Ahmedabad, Kolkata and Cochin, and Rs.15,000 if living anywhere else in India.
- The applicant must have work experience of over 2 years with minimum 1 year with the present organization.
The Factors That Affect Your EMI
An EMI calculator uses 3 key factors to calculate your EMI instantaneously and automatically:
- Loan Amount: This refers to the borrowed amount of money. Normally, a higher loan amount means a higher EMI if the interest rate and tenure are kept constant. HDFC Bank offers personal loans starting from a minimal Rs.50,000 to as high as Rs.12 lakhs.
- Loan Tenure: This refers to the repayment period of the loan amount. The loan tenure for a personal loan at HDFC Bank ranges from 12 months to 60 months, which enables you can choose the tenure as per your capabilities. Please also note that usually a longer tenure means lower EMIs.
- Interest Rate: This refers to the rate at which interest is levied on the personal loan. The interest rate for HDFC Bank personal loan is dependent on the bank’s 1-year MCLR, the Marginal Cost based lending rate, and varies between 10.5% – 21%.
Loan EMI usually increases with an increase in the interest rate. Moreover, the EMI amount depends on the method by which interest is calculated, which is discussed in the subsequent section.
How to Get a Personal Loan with low Credit Score?
Let’s look at a few ways you can get a personal loan even if you have a low credit score.
- Have your spouse or family member be a co-applicant for the personal loan.
- Apply for a personal loan with a guarantor who already has a good credit score.
- Check employer-lender tie-ups; they can help you get a loan despite having a low credit score.
- Consult with the bank and see if they offer the option to attach collaterals to the loan such as property, fixed deposit, etc. This may give you access to a loan even with a poor score.
- Check with options offered by non-banking financial companies (NBFCs). They may offer personal loans to applicants with a low credit score at a high-interest rate.
Find Your Personal Loan Eligibility with Fincity Experts
Wonder if your current credit score can get you a personal loan? Connect with our financial advisors at email@example.com and have them evaluate your profile thoroughly before suggesting the best loan options for you. With 50+ banks under one roof, we assure you the best rates that stay low over the life of the loan.