Having your Loan Account Number (LAN) readily available is crucial. This alphanumeric code specifically corresponds to your loan account and serves as a distinct identifier for borrowing money. Today, the process of getting a Personal loan has become easier than ever. All you need to do is meet a lender’s eligibility terms, fill out an application online and attach the needed documents.
However, you must repay on time to service your obligation and maintain your financial health. This can be tricky to manage when you have more than one loan. Here’s where your LAN becomes vital to help you track your payments.
Read on to learn what is loan account number and how to run a loan number check online.
Importance of Loan Account Number or LAN for a borrower
A loan account number or LAN is a 14 or 15-digit unique identifier that your lender assigns after approving your loan application. This number ensures that each loan account has a distinct identifier. Now that you know what is a loan account number, it is essential to understand its significance.
1. Helps make payments
Knowing your LAN is essential when making EMI payments to ensure your funds get credited to the right account. You need it while paying your monthly loan instalments, regardless of your chosen payment method.
2. Support in getting loan-related information
It is essential to track and manage your loan account consistently. Your LAN enables you to access your loan status, view the balance and address queries associated with your loan.
3. Aids in updating your personal data
Knowing your LAN is also necessary to revise your personal information. This includes updating your contact details, employment status, residential address, or other essential information.
Ways to find your Loan Account Number
Check out the different ways through which you can find your LAN.
1. Look at your loan statement
When you apply for a loan, you get a loan statement. It includes all the essential details of your loan, including your LAN.
2. Log in to the lender’s website or app
Another way to execute a loan number check online is by accessing your lender’s official website or app. Log in to your account and access this information conveniently within minutes.
3. Check your credit report
You can also run a loan number check online by reviewing your credit report. It will showcase the details of your past and current loan accounts. Examine your credit report to find the specific loan amount and note the LAN.
4. Contact customer service
Another method of performing a loan account number check is by getting in touch with your lender’s customer service team. You can call the helpline or send an SMS or email to get the information.
5. Visit the branch office
You can also visit the nearest branch of your lender and request your LAN. A representative will provide you with the information after verification.
Now that you know how to perform a loan account number check, you can keep track of repayment with ease. To ensure this is easy on your pocket, select a lender who offers affordable financing. Get an instant loan online of up to ₹5 lakhs in just 2 minutes on Fibe! Simply download our Personal Loan App or sign up on our website.
FAQs on how to find a Loan Account Number
Is the loan number the same as the account number?
No, a loan account and bank account numbers are not the same. The LAN is a unique number that a financial institution assigns when your loan application gets approved. Conversely, a bank account number is a unique number associated with each bank account you maintain with a financial institution.
What is the meaning of a loan account number?
A loan account number or LAN is a unique identifier that a financial institution assigns to your loan account once the loan is approved and sanctioned.
How many digits are there in a loan account number?
A loan account number or LAN has 14 or 15 digits.
How do I find my 7-digit loan number?
You can find your LAN using various methods. You can check it by examining your loan statement, logging in to the lender’s website or app, checking your credit report, contacting the lender’s customer service or visiting the lender’s branch.
FAQs
You can find your LAN using various methods. You can check it by examining your loan statement, logging in to the lender's website or app, checking your credit report, contacting the lender's customer service or visiting the lender's branch.
What is loan account number and how do you check it? ›
The loan account number (LAN) is a unique string of numbers that your lender assigns to your account when issuing a loan. This number is mentioned on the Bajaj Finserv loan statement, both physical and digital. Each new loan account, even within the same financial institution, will have a unique LAN.
Can I check my loan details online? ›
Through Net Banking
Most of the banks under its net banking facility provide the 'loan' section through which a customer can view the details of loans availed by them. Click on 'loan' and you can download the e-statement on your computer or simply view your personal loan statement online.
What is your loan account? ›
This account is opened as soon as your loan is approved by a bank. A director's loan account could be a record of all the money that the corporate's director takes from the company that is not salary, a dividend or expense repayment.
What is a loan ID number? ›
To make an online payment on your loan, you'll need to know where to locate your Loan ID. Your Loan ID is a 3-digit number that identifies your type of loan (new vehicle, adjustable rate mortgage, line of credit, etc.). Note: Your Loan ID is not your Account Number.
Where I can check my loan account number? ›
You can check your loan documents or reach out to your lender's customer service team and go through a verification process to retrieve your number. Additionally, your online account, loan statements, or recent approval paperwork may contain your LAN.
How do I check my loan account? ›
The simplest way to get your loan details or know your loan outstanding balance is to go to the nearest branch of the lender and ask for assistance. A representative will ask for your account details. Once verified, you can get your statement.
How do I check my unpaid loan? ›
Steps for Finding All Your Debts
- Check Your Credit Report. The best place to start your search for information about debt is on your credit reports. ...
- Check for Letters or Emails from Creditors. ...
- Check Your Financial Account Statements. ...
- Contact Your Creditors. ...
- Prioritize Your Debts. ...
- Create a Budget. ...
- Choose a Payoff Method.
Under most circ*mstances, borrowers have a relationship with the mortgage servicer -- the institution that collects the monthly payments -- who may or may not be the owner of the loan. The simplest step to take to determine who owns your mortgage loan is to contact your loan servicer.
Where can I check my active loans? ›
Using the Credit Bureau Website
Credit bureau services provide a trustworthy source of information that you can use for varied financial purposes. You can check active loan status from CIBIL, Experian, Equifax, and CRIF high marks official sites.
The loan becomes a part of a real account. A loan account generally signifies a type of personal account representing the giver or receiver of loans. Hence, it is a real account as it is a company's tangible asset.
What is the bank loan account name? ›
A Loan Account Number (LAN) is a unique alphanumeric code financial institutions assign to individual loan accounts. It is a distinctive identifier, crucial for easy loan administration and effective communication between borrowers and financial institutions.
Is a loan account a credit account? ›
A loan can be considered as a debit balance when the loan is given out by the business while it can be considered as a credit balance when it is taken by the business.
What does a loan number look like? ›
Your loan account number is a 14- or 15-digit number that is given to you by your lender when your loan application gets approved. Every loan account has a unique account number. In case you have two ongoing loans, the loan account numbers will differ respectively.
Where can I find the 7 digit loan number? ›
Enter your 7 digit loan account number.
This can be found on the upper right hand corner of any correspondence letters you received from the National Student Loans Service Centre. If you're unsure of your loan account number contact the National Student Loans Service Centre.
What is a unique loan identifier? ›
An identifier assigned by a government agency (for example FHA Case Number, VA Case Number). The identifier is used by the agency to identify a loan.
How do I find out if a loan has been taken out in my name? ›
Check your Experian Credit Report
You can do this by requesting your free statutory credit report, or by signing up to CreditExpert. This will let you see if there's anything you don't recognise. If there is, we can help you query it with the lender.
Can loan apps track you? ›
The headache that is in lending Apps
Some apps go as far as seeking permission to record calls, access phone contacts, monitor SMS data related to financial transactions, device name, model, user habits and location.
Will a loan company ask for online banking details? ›
You are the only one who should have access to your online banking or mobile app. No loan company should ever need to log in to online banking for you. When you give someone else your login credentials, you are giving them complete control over your money, almost like handing them cash.
