How to Check Two Wheeler Loan Status

With more people opting for two-wheelers due to the rising fuel costs and growing popularity of EVs, bike loans have become a convenient financing option. Once you apply, staying updated on your application progress is essential. If you’re wondering how to check your bike loan status, this guide covers multiple ways to do it easily. Tracking your loan status helps you plan your purchase and manage your finances smoothly. Read on to learn the best ways to stay informed about your Two-Wheeler Loan journey.

How to check a two-wheeler loan status?
 

There are various reasons for wanting to know the loan status after being sanctioned. Knowing your loan application’s status can help you plan your future expenses along with the EMIs and streamline your repayment of the loan. Here are the different ways of checking your two-wheeler loan status:

1. Through SMS

Mobile phones have now become central to the banking experience. A lot of banks allow their customers to check their loan application statuses via SMS. This is a very convenient facility for customers who might not have access to the internet. If your lender has a phone number dedicated to providing updates regarding your Two-Wheeler Loan, it is advisable to start using the service at the earliest.

IDFC FIRST Bank, too, offers SMS banking services that reflect the true essence of banking from home. You can now request a new cheque book, cancel a cheque book request, check your current bank balance, and view your last 5 transactions using this feature.

2. Through IDFC FIRST Bank’s mobile banking app

IDFC FIRST Bank’s mobile banking app provides a wide range of services that can help you with any banking query and resolve it instantly. The service of checking your Two-Wheeler Loan status is included in its list of services. If you are yet to download the IDFC FIRST Bank mobile banking app, download it right away, and start banking from the comfort of your home. 

3.  Visit IDFC FIRST Bank’s website

You can also check your Two-Wheeler Loan status via net banking. If you have signed up for your lender’s net banking services, you can log in to their portal and click on the ‘Two-wheeler loan’ section to know your loan status. 

IDFC FIRST Bank’s net banking portal lets you easily transfer money to people via NEFT, IMPS, and RTGS.

4. Visit the bank
 

The fourth method to check your bike loan status is to physically visit a bank branch. This is an effective way to know everything about your two-wheeler loan, especially if you do not have access to the internet or if your connection is weak.

5. Contact customer care
 

You can also contact your lender’s customer care team to get the details of your Two-Wheeler Loan. A customer care number might require you to follow certain steps such as providing your Two-Wheeler Loan details and personal details like your name and debit or credit card number. It is advisable to be ready with this information before contacting your lender’s customer care team.

Information you need to check loan status
 

Before checking your two-wheeler loan status, it’s important to keep certain details handy. These include your loan application number, registered mobile number, and your date of birth or customer ID. Having this information readily available ensures a seamless verification process, whether you’re using SMS, the IDFC FIRST Bank mobile app, net banking, or contacting customer care. Providing accurate details helps the bank verify your identity quickly and display the correct status of your two-wheeler loan without delays.

Common status messages and their meaning
 

When tracking your two-wheeler loan status, you may see any of the following messages:

• In progress: Your loan application is under review by the bank.
• Approved: Your loan has been sanctioned, and the funds will be disbursed shortly.
• Disbursed: The loan amount has been credited to your account or paid to the dealer.
• Pending documents: Additional or missing documents are required to proceed with your application.
• Rejected: Your loan application did not meet eligibility or documentation requirements.
• On hold: Your application is temporarily paused due to verification or document issues.

Understanding these message updates helps you take timely action and stay informed throughout your loan process.

Benefits of tracking your two-wheeler loan status
 

Monitoring your loan status regularly offers multiple advantages. It keeps you informed about every stage of the process, helping you plan your purchase and manage finances accordingly. If there are delays or document requirements, tracking ensures you address them promptly. Moreover, it provides peace of mind, knowing your application is progressing as expected.

IDFC FIRST Bank’s digital channels like SMS, mobile app, and net banking make it simple to stay updated anytime, so you remain in control of your two-wheeler loan journey.

You can explore two-wheeler loans with IDFC FIRST Bank to get customised loan options based on the type of bike you are planning to buy. Additionally, you enjoy one of the most competitive rates starting at just 8.5% for premium bikes, 15.99% for EV bikes, and 18.99% for commuter bikes, making your purchases affordable without compromise. Once applied, get your loan approved within the same day. Apply for a two-wheeler loan now!

Conclusion

With multiple digital options offered by IDFC FIRST Bank, you can stay updated on your loan progress at your convenience. Keeping an eye on your status not only helps you manage expectations but also ensures a smoother, hassle-free experience right from application process to the loan disbursal.