Bajaj Finserv, one of the most popular lenders in India, offers a simple way for applicants to check loan status after application. An individual can use one of two methods to do the same. The first one involves visiting the NBFCs official website, while the second process uses the company’s mobile application.
Checking personal loan status using Bajaj Finserv’s official website
Applicants can quickly check their Bajaj Loan Application status online by following these steps mentioned below–
- Step 1: Visit the official website for Bajaj Finserv.
- Step 2: Click on ‘My Account’ option on the home page.
- Step 3: Select ‘Customer Portal’.
- Step 4: Enter account credentials on the following page.
- Step 5: After entering the necessary details, click on ‘track application’ option.
- Step 6: Next, provide a registered mobile number and wait for OTP.
- Step 7: Verify using OTP.
- Step 8: View a detailed personal loan application status.
Keep in mind that one must possess a valid account on the NBFC’s website to undertake this process. Just as a borrower can save time by applying for a personal loan online, so can he/she reduce time-consumption by checking Bajaj Loan status online.
Checking personal loan status using Bajaj Finserv’s app
Individuals who prefer to check personal loan status on their phones can download the company’s official app – Experia.
The process mentioned below should help an applicant determine his/her loan status using this application –
- After launching the app, choose your customer profile based on whether you are an existing customer or a new customer
- Select your employment status by choosing between self-employed and salaried options
- Select personal loans from the various financial products on offer
- Under personal loans, click on ‘View Loan Application Status’ option to view how far your loan application has been processed.
Borrowers can improve chances of credit approval by learning about the primary reasons for personal loan rejection. Additionally, assessing the eligibility criteria for such loans before an application can also increase the likelihood of loan approval.
Eligibility factors for personal loans
Individuals seeking personal loans from the NBFC need to ensure that they meet the minimum requirements.
Applicants must –
- Be a resident of India.
- Hold a credit rating of 750 or above as it is a mandatory requirement to avail such unsecured loans.
- Be aged between 23 and 55 years
- Be employed with a public/private firm or MNC. Self-employed individuals are also eligible for this financial assistance.
Documents required for application
Applicants should also arrange the important documents required while applying for a personal loan to increase their chances of approval.
Some of the important documents for personal loan application include the following –
- KYC documents.
- Salary slips of the preceding two months.
- Salaried individuals should also provide a copy of their employee ID card to prove their employment in a particular organisation.
- Self-employed individuals need to submit account statements for at least the last six months.
Keep in mind that additional documents may be necessary. The list above only represents the mandatory paperwork.
Existing customers may not need to check Bajaj Finserv Personal Loan status since the company offers instant approval on online applications. Upon successful completion of this application procedure, a borrower can look forward to personal loan approval in just a matter of minutes.
The NBFC also provides pre-approved offers, simplifying and speeding up this loan application process. These offers are available on a range of secured and unsecured financial products, including business loans and personal loans. You can check your pre-approved offers by submitting your contact number and name.
In conclusion, borrowers can quickly check their Bajaj Loan status online. This convenient process ensures that one knows precisely how far his/her credit application has progressed.