How to Check Your Loan Settlement Status

You can check a loan settlement request by signing in to My Account or the app, selecting the loan under Your Relations and comparing the account details with the settlement communication from the lender. Check the settlement amount, payment deadline, payment record and account status, and do not treat the settlement as complete until the payment is recorded and the final status is confirmed. A settled account is reported as Settled, not Closed, and while a request is under review the dues stay payable and the overdue status can continue to be reported.

• Check the settlement terms, including the approved amount, conditions and payment deadline, in the lender's communication.
• Do not assume approval while a request is under review, because a settlement is not guaranteed.
• Dues stay payable while a request is under review, and penal charges and credit reporting can continue.
• Pay only through the official app or My Account, and never share OTPs, PINs or passwords.
• Once you have paid, check that the payment is recorded and the final status is confirmed, and keep the settlement communication and payment acknowledgement.
• A settled account is reported as Settled, not Closed, and the Settled status remains on your credit record.

Checking your loan settlement status shows whether your request is under review, approved or processed, and lets you verify the settlement amount, payment deadline, payment records and current account status. A settlement request or payment does not automatically resolve a legal notice, so check the latest status before you rely on it. Keep the settlement communication, payment acknowledgement and updated loan records. Regular checks show your repayment position and the next step.

What does loan settlement status mean?

Loan settlement status shows the current stage of your settlement request or agreed settlement. Read the status together with the settlement communication, payment records and loan account information. Depending on your account, the status may show that:

• The request is under review: The request is being assessed, so approval should not be assumed.
• Settlement is approved: The lender has communicated the settlement terms and payment requirements.
• Payment is pending: The approved settlement amount or another required payment has not yet been completed.
• Payment is received: The payment has been recorded, subject to further processing or account requirements.
• Settlement is processed: The settlement has been processed according to the agreed terms.

The status labels and service options can vary by loan type and account. Rely on the latest communication and the loan records for your account.

How to check your loan settlement status

You can check your loan settlement status in My Account or the app using your registered details. The steps let you review your account information and request an update. 

Follow these steps:

1. Open My Account or the app and sign in using your registered mobile number and OTP.
2. Verify your details with your date of birth.
3. Go to Service and select the loan under Your Relations.
4. Review the outstanding amount, payment history and account status.
5. Go to Help and Support to see the status of your settlement request.
6. Compare what you see with the settlement communication from the lender.
7. Save the settlement communication, payment acknowledgement and updated loan statement.

If the settlement status is not shown online, raise a request through Help and Support.

A status is useful only when you also verify the financial and account details connected with the settlement. Check these details before you treat the settlement as complete.

A settled loan is not the same as a closed loan. Settlement means the account has been resolved under agreed settlement terms, while closure generally means the loan has been fully repaid. Check the records for your account, not only a payment confirmation.

How does loan settlement affect your CIBIL record?

A settled loan is reported to credit bureaus as Settled, not Closed, and the Settled status remains on your credit record. Settlement is not a way to remove an adverse credit history, and it can affect how future lenders view your account. The status is reported in the lender's regular reporting cycle, so check your credit report afterwards. Compare it with the lender's records to find any mismatch.

If the reported information is wrong, raise a dispute through the official CIBIL process at cibil.com. Keep the settlement communication, payment acknowledgement and final loan statement as evidence.

What happens to your dues while a settlement is under review?

A settlement request does not pause your repayment obligations. Dues stay payable while the request is under review, and if an EMI is not paid by its due date, it becomes overdue and can attract penal charges as set out in your loan agreement. The overdue status is reported to credit bureaus in the lender's regular reporting cycle, and a later payment does not remove the earlier entry. Recovery steps, including notices, can continue while the request is assessed.

If a settlement is approved, pay the agreed amount by the stated deadline. Check the settlement terms for what happens if the payment is not made on time, and do not assume the original dues are cleared until the final status is confirmed. If the request is not approved, the original loan obligations continue to apply.

A legal notice should not be ignored. Read it, check the amount against your loan account, and respond within the stated timeline. A settlement request or payment does not automatically resolve it.