Traditional banks usually process personal loan applications slowly, and moneylenders are known for charging hefty interest rates, making the whole process suspect. A personal loan in this entire financial setup has emerged as an excellent idea to ensure a safe, hassle-free, and immediate cash loan in India. In India, personal loan apps are the best way to get a quick cash loan as they take less time to validate an individual’s eligibility using a personal loan eligibility calculator.
Technology has drastically altered the way India does business. Online shopping allows you to buy anything from vegetables to Smart TVs from the comfort of your home. By taking into account personal loan eligibility, Instant loan apps have made it much easier to obtain personal loans, even sometimes, they provide unsecured loans too with certain terms and conditions. The requisite scanned documents can be uploaded online, and the loan amount can be credited to your account or delivered to your doorstep, as per your convenience.
Financial institutions are required to provide monthly statements for loan accounts to borrowers. It includes the due date for the payment, the EMIs payable towards the loan, the outstanding balance, and other useful information. You need to check your loan statement as a borrower every month to make sure you are making timely payments and to stay informed about the progress of your loan repayment. You must keep a detailed record of every transaction you make to repay your loan. Therefore, the bank provides a personal loan statement where you can find the details of the loans you have availed of and the transactions you have carried out.
Listed below are the 4 simple ways to view and download your Personal loan statement
Using your internet banking account
Nowadays, almost every Indian lender offers its customers the facility of Net Banking through which they can access a wide range of financial services. One of the services offered by this facility is the ability to view your personal loan statement. Using your net banking credentials, you will be able to view this statement. Under net banking facilities, most banks provide a section called ‘Loan Information’ through which customers can review the details of loans they have obtained. The loan statement is available by clicking on ‘loan’, and you can download your statement on your computer or view your personal loan statement online.
Access your account online through mobile application
Every bank now provide mobile app to its customers. You can download the mobile app easily from play store. There will be a loan option under the ‘products’ section of the mobile app. In this option you can easily view your personal loan statement through mobile app.
Accessible through email
It is possible to send an email to the bank’s email address, asking that your e-statement for your loan be mailed to you. The bank needs to know your email address for you to receive your e-statement. You can provide your email address when you choose to use the Net Banking service. A personal loan statement will be sent to your email address. You can also reach out to the customer care service department of the bank, where you can see the online information of your personal loan statement by speaking with a bank representative.
If you want a copy of your statement, you can visit the nearest bank branch from which you got your personal loan. Make sure you bring all the relevant documents to the bank. Bank representative will provide you a hard copy of your loan statement within minutes.
Listed below are a few things you can view on your personal loan statement
- Among the information, you can view here is the loan amount you have applied for, the repayment term, whether your interest is floating or fixed, etc.
- In addition, you can view the last date for paying the next EMI, the amount you will have to pay and the interest rate.
- It is possible to view the history of the EMIs you have paid up to this point. It is important to note that if you miss the payment, it will be reflected on your statement. As part of the statement, you will also find the interest levied if you were to delay the repayment of your EMI.
- As a result of having part paid for your loan, the transaction will show in your bank statement as a partial payment.