There might come a time, at least once, in everyone’s lives, where things don’t go as smoothly as they are supposed to, and the individual is hard pressed for money. It could be because of many reasons like an exuberant wedding, kids’ high education fees payment, medical emergencies etc. During these times an individual will be in urgent need of money ranging anywhere from a few thousand to even lakhs of rupees! It is majorly to help in these tough situations that banks like State Bank of India (SBI) provide Personal Loans.
As one can clearly notice, a Personal loan is a multipurpose, multivariant loan that can be applied for in both ways – online or offline! But since personal loans are unsecured loans there are stern rules and regulations that the borrower needs to abide by before loans are approved. Once the personal loan is approved, you can easily check the status of the loan in many ways.
State Bank of India offers several personal loan schemes to customers; some popular ones are SBI Pension Loan, Xpress Credit Loan, Xpress Elite and Pre-approved Personal Loans. Funds availed with an SBI Personal Loan can be used to meet expenses for travel, family weddings, medical emergencies, home renovation, business expansion, debt consolidation, etc. Currently, SBI offers personal loans of up to Rs.20 lakhs at rates starting as low as 9.60%. You thus have an incredible opportunity of availing a personal loan scheme from State Bank of India (SBI) to meet various needs of yours at amazing interest rates and comfortable repayment tenures.
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. Nevertheless, here we describe a few ways you can check the status of your loan yourself.
Particulars Required to Check Personal Loan Status at SBI
Once you have applied for a Personal Loan at SBI, you can check the status of your personal loan either online or offline. At the time of applying for a personal loan, you will be given a reference number. You must hold onto this reference number as you will be required to enter the reference number and your registered mobile number to check the status of your personal loan.
There are three types of personal loan products offered by the State Bank of India. They are:
Xpress Credit Loan
SBI Pension Loan
Method of Checking SBI Personal Loan Status Online Using SBI Loan Account
Mentioned below are the various steps that you will be required to follow in order to check the status of your SBI Personal loan:
Enter the personal loan section on the SBI website.
Select the ‘Apply Online’option.
You will be redirected to a separate page on your browser. On the right-hand side of the top of the page, click on ‘Application Tracker’.
A pop-up will appear where you will just select ‘Track’ and ‘Retail Loan’.
The last and final step will require you to enter your reference number followed by your registered mobile number, as mentioned before. Click on ‘Track’and you will be able to see the status of your personal loan.
Steps toRegister for anSBI Personal Loan Account Online
To be eligible for personal loanby SBI, the individual should be a salaried individual, and should also be an employee of the Central or State Government, or a reputed institution, defence forces, employee or pensioner of SBI, etc. In addition, the applicant should also meet the minimum income requirement.
If you meet the eligibility criteria, you can instantly apply for an SBI personal loan without the need for having an SBI account.
Depending on the type of personal loan chosen by the customer, the interest rates will be set anywhere between 9.6% p.a. and 15.65% p.a.
To know more or all the details regarding your SBI personal loan online, you must create an account with SBI. The advantage of having this account is that primarily, you can check all the details related to your personal loan even if you don’t have a current/savings account with the bank. Follow the steps mentioned below to register online for your SBI personal loan account:
On the SBI website, go to thenew user registration page.
Select new user registration and select on ‘next’
You will land on a page containing ‘User Driven Registration Form’. Fill out all the details like account number, branch code, CIF number, country, registered mobile number, facility required and click on ‘submit’.
But, if you are not able to check the status of your personal loan, either on the SBI website or on the mobile app, then its best to immediately call the customer care service number and enquire about the same. You can also do the step of visiting the nearest SBI branch and check the status of your personal loan.
Tracking the Loan Status Through Reference Number
Please follow the steps mentioned below to check the status of your SBI Personal Loan.
Visit the personal loan section on the official website of the State Bank of India.
Select the option called ‘Apply Online’.
You will be taken to a new page where you can apply for a personal loan. On the right-hand side on the top of the page, you will locate the ‘Track Application’ sub-heading.
After clicking on it, a new pop-up will open where you will have to select ‘track’ and ‘retail loan’. You will be required to enter your reference number and then your registered mobile number and click on ‘Track’.
After following these steps, you can check the status of your personal loan.
The only disadvantage of checking the status of the loan using this particular method for the customer is that this reference number should be kept in hand always, as they might not have memorized it.
Checking Application Status Through Net Banking
If the advantages of availing a personal loan through SBI weren’t good enough, you have an added advantage if you are an existing customer. You could not only negotiate better loan terms but also apply and check loan status on ET banking portal. All you need to do is login to your net banking portal, navigate to Loans section and apply for a new or even check the balance on your existing loan.
Track Status Through the SBI Mobile App
Download the SBI YONO app on your mobile phone. If you have an Android phone, download the app from Play Store or if you own an Apple phone, download the app from the Apple iStore.
Open the app and click on ‘Loans’.
You might see a range of your Borrowings on the list, select the scheme of Personal Loan availed by you and click on ‘Next’.
On the top of the app, click on ‘Menu’. A drop-down menu will be displayed where you will have to click on ‘Track Application’.
Enter the reference number of your application, followed by your mobile number registered with the bank.
You can then seamlessly check the status of your personal loan.
Different Modes to Check Personal Loan Status
There are two modes through which you can check the status of your personal loan:
To check status of your loan online, visit the SBI website, enter details like Unique Reference Number and registered mobile number. You can follow a similar process on the bank’s mobile application as well.
Your nearest SBI branch can help you check the status offline. Visit the branch and submit your reference number, registered mobile number and relevant documents. Alternatively, you can even contact the customer care service and with the help of your reference number, the representative can help you with the status.
You can check the status of your SBI personal loan by calling their toll-free numbers:
You can also call the number 080-26599990 which is chargeable.
Do 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 firstname.lastname@example.org to know your loan application status within 48 hours.
The following table demonstrates the amortization schedule based on the example illustrated above.
Months (in Numbers)
EMI (Principal + Interest)
How to apply for a Personal Loan?
Online method: Applicants can visit the official SBI website and provide details such as name, income, and employment, and property documents to apply for a personal loan. Once the application is submitted, the bank will process your application and either approve or reject the loan based on the information provided.
Offline Method: Visit your nearest branch, fill in the application, and submit it along with the requisite documents. It would generally take up to 3-7 days for your personal loan to be processed and either be approved or rejected. By calling the customer care number, you could also apply for a personal loan and check its status.
Best Method: One word – Fincity! Simply call us or write to us stating your requirement, and our experienced team of experts will duly analyse your requirement, your eligibility and discuss the same with you, and your loan amount will get sanctioned in an instant!
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!