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Now Easily Track Your Loan Application Status Through Your Smartphone

By Author: Neha Sharma
Total Articles: 954

Technology has taken a giant leap in today’s generation. It has improved communication, lifestyle, convenience and creativity. Technology is used in everyday life to fulfill various tasks and interests. For example, previously the main function of a mobile phone was to call and text. But the phone today has evolved into a smartphone. Thus, besides making calls and messaging, a smart phone can perform functions like internet browsing, video calling, online banking etc.

Every business depends on banking services. They include accepting deposits, transfer of funds and providing loans. The traditional method of banking consumes a lot of time, hence technology has given way to e-banking.

Every bank offers loans for its customers. It may be a housing loan, business related loan or even a personal loan. In order to acquire these loans there are many formalities that have to be completed. An online loan app makes it easier to apply for the loan. After downloading the online loan app there are various steps that must be followed-

Step1- log-in with your bank ID or loan account number
Step2- Select the type of loan required
Step3- Check whether you are eligible
Step4- Submit the documents required.

After applying for a loan, one can track their loan application status through a loan tracker app. The process of checking your loan application includes:

• Visit the online loan app and go to the “loan tracker section”
• Type the applicant’s name or the applicant’s id
• Select the birthday, month and year from the calendar
• Provide phone number
• After providing the necessary details click on “submit”
• After submitting the details a page displaying your current loan status will appear

Applying for a loan is not as complicated as most people think. The only thing that one must keep in mind is to give genuine documents. A CIBIL check is done to count one’s credit card score. After submitting the legal proof and other required documents it is the bank’s job to look into the documents properly and sanction the loan.

The online loan app is also useful for tracking expenses. There are various interactive tools to plan your goal. Tracking your application has also become easier through the loan tracker app as it gives you the current status of the loan application. If the applicant has a good credit score, the loan is easily approved.

The internet has simplified the process of loan application. Applying for a loan online is much more convenient. One can also enjoy lower rates of interest and calculate their EMI easily. Relevant information on loans is also easily available on the loan app.

Author Bio:- Neha Sharma is an aspiring student in the field of finance. She also spends her free time reviewing the latest apps introduced into the market. Check out her work as she talks about how easily one can track their loan application status through the online loan app on their smartphone.

Total Views: 10Word Count: 477See All articles From Author

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