Terms in a car loan statement
Your car loan statement provides a detailed overview of your loan account, which you can receive by mail or view online through NetBank. The statement includes several key details:- Statement number: Indicates the position in the series of statements issued since the initiation of your loan.
- Required repayments: The minimum monthly amount needed to ensure the loan is paid off within the agreed term.
- Interest rate: Your current interest rate, with any changes during the statement period displayed on the 'transaction' page.
- Loan balance: The outstanding amount on your loan as of the statement date.
- Repayments: The total amount of loan repayments processed during the statement period.
- Interest: The total interest charged for the current financial year.
Why is a car loan emi statement important?
A car loan EMI statement is crucial for managing your finances effectively. It provides a clear picture of your outstanding loan balance, the interest rate applied, and the repayment schedule. By regularly reviewing your EMI statement, you can ensure timely payments, avoid late fees, and maintain a good credit score. This statement also helps you track your progress in repaying the loan and plan your budget accordingly. Additionally, it can be useful for verifying that all payments are accurately recorded and for identifying any discrepancies early on, enabling you to address them promptly.How to get your car loan statement online?
To access your car loan statement online, follow these steps:- Visit the lender’s website: Go to the official website of your lender.
- Log in to your account: Use your credentials to log in to the your account section. If you don’t have an account, you may need to register first.
- Navigate to the loan section: Look for the section related to loans, usually labelled as 'Loan Statement' or 'Your Loans'.
- Select car loan: Choose your car loan account from the list of loans.
- View statement: Click on the option to view your loan statement.
- Download statement: If available, select the option to download the statement in PDF format for your records.
Other ways to get car loan statement
Besides online access, there are other ways to obtain your car loan statement:Via customer support
You can contact customer support to request your car loan statement. Here’s how:- Call the customer care number: Dial the customer care helpline number (+91 8698010101).
- Provide necessary details: Be ready to provide your loan account number and other verification details.
- Request the statement: Ask the representative to send you your car loan statement via mail or email.
Via branch visit
You can also visit a branch of your lender to request your car loan statement:- Locate a branch: Find the nearest branch of your lender.
- Visit the branch: Go to the branch with your identification and loan details.
- Request the statement: Speak to a representative and request a copy of your car loan statement.
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