How to Check and Download a Personal Loan Statement

Most of the lending institutions provide access to personal loan account statements. This statement consists of all the essential details about the EMI payables and EMI paid, including the remaining balance and the payment due date. To ensure the regular payment of the equated monthly installment, one needs to keep checking the personal loan statement from one time to another. 

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Checking your personal loan statement will help you stay updated and know all the various information about your personal loan repayment status. It also helps you with various information related to the additional charges or applied changes. In order to check the personal loan statement, one needs to follow certain procedures. 

The process to check your loan statement.

Once you request receiving the monthly loan statement, the financial institution processes the same. Ensure that you keep all your contact information, including your postal address and the registered email ID, updated. The statement mentions the number of EMI payments, details regarding your balance, and other important details.

Benefits of the loan statement

There are various benefits of the personal loan statement. Some of these includes:

  • Reviewing the statement would help an individual with a good financial planning
  • You would be able to stay in touch with all your dues and payments
  • If you have any delayed payments, the additional charged penalty will reflect in your account statement.

Steps to download the personal loan statement

You can also download the personal loan statement with the help of the following process.

  • Log in to the official website of the financial institution and click on the personal loan status option.
  • You will find the download option on the following page. Once you click on this option, you will be able to download the statement.
  • Additionally, you need to provide your registered email ID.
  • Instead, you can visit the nearest financial institution to download the status of your loan account statement.

Check your personal loan status.

After the approval of your loan amount, you will activate your loan account. But if you are a new applicant, then you need to know if the request for your loan amount is approved or not. For that very purpose, you need to check the status of your personal loan. Follow the steps to check the status of an unsecured personal loan.

  • Visit the website of the financial institutions and click on the tracking option. Under the tracking option, you will find an option that will help you check your personal loan status. Also, you need to enter various details, including your date of birth, contact number, and, most importantly, your application ID.
  • You can also send an email to the financial institution to deal with any queries or check the application status of the loan account statement. Moreover, with the help of the online loan eligibility calculator, you can calculate the interest rate and other eligibility formulation for a particular loan product.
  • Apart from these two methods, you can also physically visit the bank to check the status of your loan account statement.

A banking statement happens to be one of the documents that every lender will look for while making decisions on any loan application. It is a statement that will help to decide whether an individual should get the loan or not. Besides, it is one of the important pieces of documentation other than your CIBIL score. To improve personal loan eligibility, you must follow good banking behavior.