How To Track Your Personal Loan Status With Mobile App?

How To Track Your Personal Loan Status With Mobile App

Download a personal loan app when you are in a financial problem, you need funds as quickly as possible. You want a lender to approve your loan application fast and disburse the funds at the earliest. A personal loan is a funding scheme that gets quick approval and disbursement. Once you apply for it via mobile app, you need to track its status so that you know the probable time of getting your funds.

How can you track the status of your personal loan?

Monitoring the status of your loan application is possible by two basic modes. These are:

  • Off-line mode: It is the old, traditional way of inquiring. There are two ways:
    • By visiting the lender’s branch: You go to the lender personally and ask about your loan application status.
    • Calling Customer care: Every lender has a customer care cell where you can inquire about your loan status through a phone call. Alternatively, you can also email the customer care cell and ask for the status update. 
  • Online mode: In line with the latest technological advancement, the lenders provide you with the facility of online tracking. It can save your time and efforts. Online tracking has two options:
    • Through the lender’s website: Every lender has its website or online portal for personal loan online application. You can visit the site and track your loan application by providing necessary information like your name, the application number, mobile number, etc. You can get instant information about the loan processing stage and the current status.
    • Through mobile app: Android and iOS based mobile apps are the latest additions to the customer convenience and care drive of the lenders. You can download this app on your mobile phone and can track your loan application from anywhere at any time.  

Tracking personal loan through a mobile app 

A personal loan app is an instant app where the process of the loan application, approval, and disbursement is straightforward and quick. You have to follow these simple steps to get your loan.

  • Login or Registration: Registration or login in the app is the first step. You can do so by providing some details like your mobile number, email ID, or other social network IDs like Facebook.    
  • Loan application: The mobile app can let you make a quick loan application by providing you details, like age, date of birth, photo id number, etc. 
  • Select loan tenure: Selecting the loan amount, interest rate, EMI, loan tenure, type of loan, etc. is also possible through a mobile app. The interest rate depends upon the loan term that you will select.
  • Personal loan EMI calculator: The mobile app provides a personal loan EMI calculator to help you decide the loan amount, tenure, and EMI.

A mobile loan app is a boon to the lenders and the borrowers as it makes the personal loan application simple, quick, and hassle-free. You can use this app to track your loan application status easily, very quickly, and at your convenience.