How To Register For A Loan Statement Or E-Statement With Piramal Finance?
People frequently spend more than their monthly income to survive this fast-paced lifestyle. As a result, loans have become an ideal choice for many. You can take a loan for any reason, whether to pay off credit card debt, renovate the property, or even cover a medical emergency.
However, applying for a loan is not the first step to fulfilling your dreams. Repaying it on time is another thing you must ensure. It entails memorising the due date, monthly payment amount, and other data, making it nothing less than a challenging task! But you can effortlessly pay off your loan and keep a close eye on it by downloading your loan statement. Unsure of how to do it? This article will provide a detailed insight into viewing a loan statement and accessing an e-statement.
What is a loan statement?
A loan statement refers to a loan account statement that a lender or financial institution issues to the borrower for an approved loan. It is a thorough overview of your loan repayment over a fiscal year.
A loan statement includes various details. The typical information you will find on it includes
- Original loan holder’s name
- The full account number
- Total current loan balance with principal and accrued interest
- The statement date
- Monthly payments
All in all, a loan statement is nothing less than a snapshot of your loan. It is a practical and handy way to keep track of your loan repayment.
Why is a loan statement important?
A loan statement is significant to know your loan activities. It is essential for several reasons. For instance,
- It makes it easier to get a loan because it shows that you’ve already paid back the money you borrowed.
- You can view the history of all the EMIs you have paid till now. It will appear on your statement if you forget to make payment by the due date.
- A loan statement serves as evidence of loan repayment.
- It allows you to keep track of your loan transactions. You can use the loan statement to find out how much money you owe, your next payment due date, whether your interest is variable or fixed, and other information.
- It gives you complete control over the structure and timing of the payments.
- You can also view the due date for the subsequent EMI and the amount you need to pay.
- Your loan statement will also reflect any partial payment you make to repay your loan. It will also show any penalty interest charged if you fail to pay your EMI on time.
- You can check the terms of the personal loan you have chosen.
How to register for loan statements with Piramal Finance?
Applicants do not necessarily need to register for their loan statements. You can receive your loan statement online only when your loan account is active and approved. If you are a new applicant, you must ensure your loan has been permitted or confirmed.
You have to stay on track with the real-time status to avail yourself of an e-statement for the loan agreement you signed. You can check the latest status by calling customer care.
The other way to do the same is via the website. You can follow the given steps to check the status yourself on your device:
- Visit the official website.
- Click on the “Customer Services” tab available on the top right side of the site.
- Select the application status tracker. A new page with a small box will open.
- Fill in the relevant details it asks for, namely your mobile number.
- You will receive an OTP (one-time password) shortly at the provided number.
- Enter the correct OTP and stay updated with your loan status.
You will be notified through email when your loan statement is available online. It is generally issued four days after your grace period expires. Once you have logged in to the website and gained loan approval, you can effortlessly access and download your loan statement.
How to get an e-statement of a loan from Piramal Finance?
A loan statement is available online and offline to ease the process for customers. There are primarily three ways to download it without visiting a bank or financial institution. They are:
1. Using the Official Website
You can obtain your loan statement digitally in a short time using a convenient process. The simple procedure involves the following steps:
- Visit the official site of Piramal Finance at www.piramalfinance.com.
- Click on the “Menu” if using a mobile phone to download your loan statement. However, skip this step if using a personal computer or a desktop.
- Locate the Customer Services tab and select it to open a drop-down list.
- Among the various services, select “Download Statement.”
- It will further open a separate list with multiple options. Click on the “Loan Agreement” to view your e-statement.
- It will direct you to a new page named “Loan Statement” with a small box. Next, enter your lead ID or loan account number to log in and access the information.
- Correctly type in the required detail and click “Submit” after ensuring it is valid.
- Now, you can view and download your loan statement easily without any hassle.
You can use the same process to download the loan repayment schedule.
2. Customer Care
It is okay if you find the process hectic or time-consuming. You can use the service by giving the support team a call or sending an email.
3. Mobile Application
The easiest way to download an e-statement is through the mobile application available on the Google Play Store and other app stores. You can install the Piramal mobile application to download the loan statement. Besides the digital document and repayment schedule of your loan, it contains other significant data as well. You can view your account statement, provisional interest certificate, and more from any location at any time with a few clicks.
All the methods are relatively easy and convenient. You can use any to access your loan statement or agreement per your suitability.
Conclusion
Loan statements, or e-statements, are one of the ways to simplify the loan journey an applicant undertakes. It is preferable to download or access such details and documents online to avoid any confusion in the future. Staying updated with your loan repayment schedule not only helps you with the timely reimbursement of the amount but also improves your credit score. You can make monthly payments before the due date and sidestep any negative penalty or dent a late transaction brings.
If you feel hesitant about how to view and download your loan statement, you can connect with a professional financial company to resolve the issues. Piramal Finance aims to assist customers—firms and individuals alike—in making correct financial decisions. It is an Indian company with remarkable experience and optimal services. You can contact the adept team of experts here to ease and enhance retail lending, which comprises business loans, home loans, personal loans, and other finance-related services.