Owning a car is no longer a luxury, but has become a routine necessity, and most banks and lending institutions are providing affordable car loan interest rates, with easy car loan EMIs. The loan repayment schedules are also flexible, and people can pick their repayment schedule depending on the lender’s terms and conditions. Banks give car loans not only for new cars, but also for used cars. So, if you are tight on your budget, you can go in for a used car in a fairly good condition. Usually anyone between the ages 21 to 60, and earning at least Rs 2.5 lakhs per annum, is eligible to avail a car loan. But this may vary from bank to bank and it would be best to cross-check with the bank’s website, or their representative. Once you have applied for the car loan, it would take about a week to 10 days to get your loan disbursed. Meanwhile, you can check its status in the following ways:

 

Check Your Car Loan Status Online

The easiest way to check the status of your car loan after you have applied for it, is to visit the company’s website and fill in a few required details. By knowing what exactly your loan’s status is, you will get to know if things are on track. If they are stuck somewhere, then you can call up your bank’s customer care service and try to resolve the issue. All you need to have handy to check your car loan status on the bank’s website are your name, application number, your birthdate and mobile number. Knowing your car loan status will give you an idea about whether you need to actively follow-up with the bank’s representative or whether things are going smoothly.

 

You Can Check the Status of Your Car Loan Through the Bank’s Customer Care

Another way to check the status of your car loan is through the traditional way of contacting the customer care department of your bank. They will let you know not just the status of your car loan, but also other basic information such as your car loan interest rate, and your car loan EMIs. In fact, you can even email the customer care department, or personally visit your bank branch if it is convenient.

Avail An instant Rs 2 Lakh Loan from PaySense

It is now possible to grab a Rs. 2 lakh loan instantaneously from PaySense. Use the mobile app, which have a very user-friendly interface, to apply to the instant loan. This instant loan can be very convenient when you are planning to purchase a car on a loan, but do not have the required amount of cash to make the down payment.