Multiple banks. Different interest rates. Call it a "conflict of interest".
IIFL offers a range of financial services in India, one of them being personal loans. If you’ve applied for a loan from this NBFC (Non-Banking Financial Company), you might want to check the status of your application every now and then. There are a number of ways of doing this. Read on to find out how.
The easiest way to check the status of your loan is by logging into IIFL’s official website. Given below are the steps involved in this process:
If you want to check the status of your loan on your mobile phone, you need to download the IIFL Loans app from Google Play Store or the App Store. Once you’ve downloaded the app, you need to first register your account on it. For this, follow the steps given below:
Once you’ve set up the mobile app on your phone, you can then use it to check all your loan information.
There are two ways of checking the status of your application – online and offline. Let’s look at these options in detail.
When you apply for a loan either through BankBazaar or directly with IIFL, you will get a loan reference number. This number will be sent to the mobile number you provide on your loan application.
This reference number is important since you will have to quote it whenever you want to check your loan details. It is important, so keep it safe.
You also need to make sure you have the same mobile number throughout the loan processing period. All the information related to your loan will be sent on your registered mobile number. Also, if you want to check the application’s status, you will have to mention your mobile number.
If at any point you’re changing your mobile number, make sure you communicate this change to IIFL and ensure that they update it in their records.
Since IIFL has partnered with BankBazaar, you can check your application status on our website if you’ve applied through us. You can also get the information you need on BankBazaar’s mobile application.
BankBazaar will normally keep you updated on the status of your application without you having to check it. We will send you the latest updates on which stage of processing your application is in.
But in case you want to check it on your own, simply follow the steps given below:
The information regarding your loan application will be displayed on your screen. You can also use your Facebook and Google IDs to log in and check the application’s status.
If prefer the age-old method of going to the bank to check on your loan status, you can drop into the nearest IIFL branch. Once you’re there, simply give them your loan reference number and get your loan details. Sometimes, they may ask you to furnish an ID to prove your identity. So, remember to carry your driver’s license, Aadhaar card, passport, or PAN card with you.
If you’re unable to go to a branch office, you can get the details on the phone as well. You can contact IIFL on 1860-267-3000 and 7039-050-000. You will have to provide your loan reference number and mobile number to get your loan information.
1. How can I pay my IIFL EMIs?
Ans: You can repay your loan by opting for the Electronic Clearing System (ECS) or the National Automated Clearing House (NACH) mandate. In both these options, your EMIs will get automatically debited form your bank account.
2. Is there any penalty if I don’t pay an EMI on time?
Ans: Yes, IIFL charges you a late payment fee for not paying your EMIs on time. This charge will be mentioned in your loan offer document. Ensure that you pay every EMI by the due date to avoid paying unnecessary fines.
3. Can I prepay my IIFL personal loan?
Ans: Yes, IIFL gives you the option of prepaying your loan. You can start prepaying after 6 months of paying EMIs.
4. Is there any charge for prepaying my loan?
Ans: No, IIFL does not charge you any prepayment fee if you prepay after 6 months of repaying your loan.
5. How can I make prepayments on my IIFL loan?
Ans: You can prepay your loan by transferring money through NEFT or RTGS using IIFL’s online portal.
6. I want to update my contact information. How can I do this?
Ans: You can log into your IIFL account and update your contact information. If you need help, you can always call their customer care number.
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