SBI Personal Loan Application Status Check

Your SBI Personal Loan application can undergo multiple levels. It can ideally include receipt, review, approval, and fund disbursement. To keep track of your loan application, the bank provides a service known as 'SBI personal loan status.' This lets you stay updated on every step of the loan progress via the SBI website or the mobile app, making it easier to manage your loan application. To learn more, continue to read on. Urban Money presents a detailed overview of the SBI personal loan application status. Let’s get started.A

How to Check SBI Personal Loan Status

There are multiple methods available regarding how to check personal loan status in SBI:

SBI Official Website

Here are the step-by-step instructions to track SBI personal loan status via the SBI Website:

• Step 1: Browse the official website of the SBI.
• Step 2: Select “Personal Loan” from the options available.
• Step 3: Click the “Apply Now” button to open the personal loan application form.
• Step 4: Look for the “Application Tracker” link and click on it.
• Step 5: Fill in the required details, such as your application number and other relevant information.
• Step 6: Click on “Track” to view the current status of your personal loan application.

SBI Mobile App

Here are the step-by-step instructions on SBI personal loan application status tracking via mobile application:

• Step 1: Install the SBI mobile app on your smartphone.
• Step 2: Go to the app and select ‘Personal Loan.’
• Step 3: Select the relevant Loan scheme you’ve applied, and click the ‘Next’ button.
• Step 4: Tap ‘Menu,’ located at the top-left of the screen and select ‘Track Application.’
• Step 5: Input the loan reference number and the registered mobile number.
• Step 6: You will then be able to review the loan status.

Offline Method: 

Here are the applicable offline methods for SBI personal loan application status:

• Visit an SBI Branch: You can visit your nearest SBI branch and inquire directly with the bank staff about your personal loan application status.
• Call SBI Customer Care: To inquire about your loan status, you can dial the SBI Customer Care numbers at 1800-11-2211, 1800-425-3800, or 080-26599990.

Requirements for Checking Loan Status

Here is the required information you might need to check your SBI personal loan status:

• Reference Number: This is the unique number provided to you during your loan application.
• Registered Mobile Number: This is the mobile number you submitted during the loan application process.
• Personal Details: This may include your name, date of birth, and other relevant details used during the loan application process.

Understanding Your SBI Personal Loan Status

Following are the different types of stages you might encounter when you check your SBI personal loan application status:

• Applied: Your application has been successfully submitted and awaits the initial review.
• In Review: Your application is currently being reviewed by SBI officials, and further instructions will be provided.
• Approved: Your loan application has been approved, and the loan amount will be disbursed soon.
• Disbursed: Your requested loan amount has been disbursed to the pertinent bank account.
• Rejected: Your loan application has been rejected for not meeting the bank’s minimum criteria.

Common Issues with SBI Personal Loan Application Status

Following are the common issues faced during the SBI Personal Loan application process and their solutions:

• Incomplete Application: Incomplete applications are a common reason for delays or rejections. Ensure every section of the application is filled out with accurate information. Missing details can cause significant setbacks in your loan process.
• Incorrect Information: Providing incorrect information, whether intentional or accidental, can result in your loan application being rejected. Always double-check your details, especially your financial information and personal identification numbers.
• Documentation: Submitting all required documents is essential. Incomplete documentation can delay the loan process. Ensure you provide all the necessary documents as listed by SBI.
• Low Credit Score: A credit score below the preferred threshold can hinder your loan approval. SBI generally looks for a score of 750 or above. To improve your chances, pay off existing debts and avoid late payments to boost your credit score.
• Unstable Employment/Income: Demonstrating stable employment and a sufficient income is crucial for your loan approval. The bank evaluates these aspects to determine your ability to repay the loan. Hence, providing clear documents about your employment and income is essential to reinforce your application.
• Multiple Applications: Applying for multiple loans at once or for a short period of time can lower your credit score and suggest financial distress. So, focus on one loan application at a time to maintain a strong credit profile.