Union Bank of India Personal Loan Status Check

Waiting can always be stressful. And it can be more difficult when it comes to finance. This is where the Union Bank of India's personal loan status comes into play. It is a service the bank offers loan applicants, enabling them to track their loan status online and stay informed about their loan progress. Thus, borrowers can eliminate the need to visit bank branches back and forth and avoid unnecessary stress. To know more about the Union Bank of India personal loan application status tracking, continue to read on. We provide a detailed overview of 'how to check personal loan status in Union Bank of India.'

How Do You Check Union Bank of India’s Personal Loan Status?

There are multiple ways to check your Union Bank of India personal loan status, such as:

Online Banking

Online banking lets you track the Union Bank of India personal loan status by ref. no:

• Step 1: Visit the official Union Bank of India website.
• Step 2: Locate the “Digital Banking” category and select the “Track Status” option.
• Step 3: You will be redirected to a new page concerning your loan status.
• Step 4: Enter your “Customer Reference ID,” a unique number received when you initiate your loan application.
• Step 5: Click the “Submit” button to view your personal loan application status instantly.

Mobile Banking

To check your Union Bank of India personal loan status by mobile no, you can follow these steps:

• Step 1: Install the Union Bank Mobile Banking Application (U-Mobile App) on your smartphone.
• Step 2: Register for mobile banking using your Aadhaar and OTP or other options, such as a Debit card, Internet Banking ID, or Branch Token.
• Sep 3: Log in to the app using your credentials. You may also set up a login PIN for easier access.
• Step 4: Once logged in, navigate to the “Loans” section of the app.
• Step 5: Select the ‘Loan Application Status’ or ‘Loan Statement’ option to view the status of your personal loan.

Offline Banking

Following are the steps on how to check personal loan status in Union Bank of India offline:

• Step 1: Locate the nearest Union Bank branch using the branch locator on the official website.
• Step 2: Visit the branch during working hours, preferably 10:00 AM to 4:00 PM.
• Step 3: Carry your identity proof and any loan-related documents, including the customer reference ID provided by the bank when you applied for the loan.
• Step 4: Meet with a bank official and provide them with your loan application details and proof of identity.
• Step 5: The official will check the status of your personal loan application and inform you accordingly.

Requirements for Checking Loan Status

These are the requirements you must know to track personal loan status Union Bank of India:

• Your full name and date of birth.
• Your registered phone number and/or email ID.
• Your loan application number or reference number.

Understanding Your Union Bank of India Personal Loan Status

Here’s a breakdown of the typical statuses for a Bank of India personal loan application status:

• Applied: This status indicates that your application has been successfully submitted and is awaiting initial review. The bank will verify the details and ensure all necessary documents are included.
• In Review: At this stage, loan officers are assessing your application. They evaluate your credit history, income, employment stability, and other factors to determine loan eligibility.
• Approved: Your loan has been sanctioned. I..e., the bank has agreed to lend you the amount requested, subject to the terms and conditions of the loan agreement.
• Disbursed: The loan amount has been credited to your account. This status confirms that the processing is complete, and you can now utilise the funds at your discretion. 
• On Hold: Your application is on hold, possibly due to missing documents or required additional information. Promptly providing the necessary details can help move the process forward.
• Rejected: Unfortunately, this means your loan application did not meet the Bank’s lending criteria. You may contact the bank to understand the reasons for rejection and explore the possibility of negotiation or other options.

Troubleshooting Common Issues with UBI Personal Loan

Here are some common challenges and how to address them regarding the Union Bank of India personal loan status:

• Eligibility Criteria: Ensure you meet the bank’s eligibility criteria, including income and credit score requirements. Use the bank’s online eligibility calculator to check your qualifications before applying.
• Documentation: Prepare all required documents and ensure they are up-to-date and accurate. This includes proof of income, identity, and residence.
• Credit Score: A good credit score is crucial for loan approval. Check your credit score beforehand and take steps to improve it if necessary.
• Loan Amount: The loan amount is decided based on your income, repayment capacity, and other obligations. Be realistic about the amount you apply for to avoid rejection.
• Interest Rates: Understand how the External Benchmark Lending Rate (EBLR) affects your interest rates and when they may change. Union Bank of India has linked its floating rate home loans to the Repo rate since October 1, 2019.
• Customer Support: If you encounter any issues during the application process, contact Union Bank of India’s customer support for assistance. Alternatively, you can connect with Urban Money’s loan specialist, who will gladly guide you until the fund is credited to your bank account.