When you don’t have a plan for emergencies or a short-term goal, a personal loan is quite useful. However, some people have chosen to use these loans for other reasons such as vacations or high-end purchases such as a flat-screen TV or other expensive gadget.
How does one apply for a personal loan? They can talk with their local bank or credit union or check out the services of a peer-to-peer lending site. There are also aggregator sites to use as well. The whole loan application process can be monitored, but the mechanics of this can be different from one lender to the next.
What Is Your Loan Application’s Status
If you’re using a bank or other financial institution to apply for your loan, you need to learn from the personnel what the process is to learn what the status is. Many banks offer a user-friendly online tracking option to keep you abreast of the loan’s status. You could also call into the bank and use the reference number to learn about the status.
Looking At The Status
You can also check the website to see what the status is of your loan. You’ll need to include the loan application form or its reference number to determine what its status is. You may have a message that lets you know of any delays in the qualification or denial. If you don’t know the reference number, you’ll need to provide the following details:
- Your name and birthdate
- Use the drop-down menu to find Personal Loan
- Type in your cell phone number
- Type in the PIN number
- Hit Submit to get your answer
