Keeping track of your car loan balance is crucial for effective financial planning, and monitoring your loan status on a regular basis benefits you in the following ways:
- Effectively plan your EMIs to ensure on-time payments and prevent penalties.
- Get ready for loan closure: Planning for prepayments or foreclosure is made easier when you are aware of your remaining balance.
- Keep track of interest payments: Knowing the difference between principal and interest paid aids in financial decision-making.
- Maintain a good credit score: Keeping track of your loan balance helps you avoid missing payments, which might lower your CIBIL score.
There are several ways to check your auto loan balance for major Indian banks, such as SBI, HDFC, ICICI, Axis, Kotak, BOB, PNB, and Tata Capital, which are covered in this tutorial.
General Ways to Check Car Loan Balance in India
1. Internet Banking
- Most banks in India provide car loan details in their NetBanking dashboard; you can view your loan details, including your EMI plan and remaining balance.
- Step-by-step guide :
-
- Go to the online banking portal of your bank and log in
- Go to the “Loans” or “My Accounts” area
- From the list of available loans, choose “Car Loan”
- Examine your loan summary, EMI schedule, and remaining balance.
2. Mobile Banking Apps
- Bank’s mobile banking apps also offer real-time loan account information.
- Step-by-step guide :
-
- Install the official mobile banking app from your bank.
- Enter your login information [password, fingerprint, or MPIN].
- Navigate to the “Loans” area.
- Choose “Car Loan” and review your statements, EMI information, and remaining balance.
3. Customer Care / Phone Banking
- You can call the bank’s customer care helpline to get your loan balance over the phone.
- Step-by-step guide :
-
- Call the customer care service number for your bank.
- From the IVR menu, choose the loan-related option.
- For verification, provide your registered mobile phone or loan account number.
- You might have to use a phone banking PIN or an OTP for authentication.
- The system will either link you to an agent or display the balance of your auto loan.
4. SMS / Missed Call Service
- To check loan balances, several banks provide missed-call or SMS-based services.
- Step-by-step guide :
-
- Text the bank’s SMS banking number with a specified SMS keyword, such as “Loan BAL”.
- As an alternative, use your registered mobile phone to place a missed call on the bank’s assigned number.
- Your remaining auto loan debt will be sent to you via SMS.
5. Visiting Branch
- The last option is to visit your bank branch if online techniques don’t work.
- Step-by-step guide :
-
- Go to the branch in your home where the loan was obtained.
- Keep your loan account information and identification with you.
- Ask the bank officer for the loan balance statement.
- A loan statement will be sent by email or printed by the branch.
Bank-wise Breakdown:
1. How to Check Car Loan Balance in SBI
If you have a car loan with SBI, checking your loan balance is simple and can be done through multiple convenient options. Whether you prefer online methods, mobile apps, or offline assistance, SBI ensures you’re never too far from your loan details.
Here’s how you can check your car loan balance using different methods.
Method 1: Online Banking
- Open SBI internet banking and log in
- Select Loans → Auto Loan
- To view the remaining balance, click View
Method 2: SBI YONO App
- Open the SBI YONO App.
- Go to the Dashboard
- Click on the Loan section to check the balance
Method 3: SMS Service
- From the registered mobile number, send “BAL” to 9223766666
- The balance details will be sent to you via SMS
Method 4: Customer Care
- Dial 1800 2100 or 1800 1234
- Speak with a representative or follow the IVR’s instructions.
2. How to Check Car Loan Balance in HDFC Bank
Keeping track of your HDFC car loan balance helps you stay in control of your finances and plan repayments better. Here’s a quick guide to check your car loan balance easily.
Method 1: NetBanking
- Open HDFC NetBanking and log in
- Navigate to the loans section
- To see your balance, click Loan Account summary
Method 2: HDFC Mobile App
- Open the HDFC Mobile Banking App
- Go to the Car Loan details section
Method 3: SMS Service
- From your registered mobile number, send “BAL” to 5676712
- The loan balance will be sent to you via SMS
Method 4: Customer Care
- Dial 1800 202 6161 and select the IVR option
3. How to Check Car Loan Balance in ICICI Bank
Managing your ICICI car loan is easier when you know how much you owe. Staying updated on your loan balance can help you plan your EMIs smartly. Here’s a quick guide to check your ICICI car loan balance with ease.
Method 1: iMobile App
- Open iMobile App
- Go to Accounts → Loans → Car LOAN
Method 2: NetBanking
- Open ICICI NetBanking and log in
- To examine your balance, select Overview → Loans
Method 3: SMS
- Text the word “BAL” to 9215676766
- Get the loan balance via text message
Method 4: Customer Care
- For queries about balances, call 1860 120 7777
4. How to Check Car Loan Balance in Axis Bank
Want to stay on top of your Axis car loan repayments? Checking your loan balance regularly can help you manage your finances better. Here’s a quick guide to help you view your Axis Bank car loan balance hassle-free.
Method 1: Axis Mobile App
- Open the mobile banking app for Axis
- To view the balance, go to the loan section
Method 2: NetBanking
- Open Axis NetBanking and log in
- Navigate to the View Loans section
Method 3: Customer Care
- Dial 1860 419 5555 and adhere to the IVR’s directions
Method 4: SMS/Email support
- Check via SMS or Email if your number is registered
5. How to Check Car Loan Balance in Kotak Mahindra Bank
If you have a car loan with Kotak Mahindra Bank, keeping track of your balance is important for smooth financial planning. Here’s how you can check your Kotak car loan balance in just a few simple steps:
Method 1: Kotak 811 App
- Open the Kotak 811 App
- Select Loans → Auto Loan
Method 2: NetBanking
- Open NetBanking and log in
- Examine the section on loan account summary
Method 3: SMS Service
- If registered, send “BAL” to 9971056767
- Receive an SMS with the balance data
Method 4: Customer Care
- To get help, dial 1860 266 2666
6. How to Check Car Loan Balance in Bank of Baroda
Tracking your BOB car loan balance helps you stay on top of EMIs. Here’s how to check it quickly.
Method 1: BOB World App
- Open the BOB World App
- Navigate to the Loans area
Method 2: NetBanking
- Open Bank of Baroda NetBanking and log in
- Go to Retail → View Loan Information
Method 3: SMS Service
- Send “LOAN BAL” to 8422009988
- Receive your loan balance via SMS
Method 4: Customer Care
- Dial 1800 5700 for assistance
7. How to Check Car Loan Balance in PNB (Punjab National Bank)
Need to check your PNB car loan balance? Here’s a simple guide to do it in minutes.
Method 1: PNB One App
- Open the PNB One Mobile App
- Navigate to your Loan Account section
Method 2: NetBanking
- Login to PNB NetBanking
- Check your loan balance under the loan accounts section
Method 3: SMS Service
- Send “BAL” to 5607040
- Receive the balance details via SMS
Method 4: Customer Care
- Dial 1800 180 2222 for support
8. How to Check Car Loan Balance in Tata Capital
If you’ve taken a car loan from Tata Capital, staying updated on your loan balance can help you manage EMIs and plan prepayments better. Here’s a quick guide to check your Tata Capital car loan balance easily.
Method 1: Tata Capital App
- Open the Tata Capital app on your phone
- Navigate to the section on loan accounts
Method 2: Tata Capital customer portal login
- Access the Tata Capital Customer Portal and log in
- Examine loan information on the dashboard
Method 3: Customer Care
- To get help, call 1860 267 6060
Method 4: Email/Chat support for balance queries
- For email/chat support alternatives, visit the official website
How to Download Car Loan Statement Online
Most banks and financial institutions offer an easy way to access your car loan statement through their online portals or mobile apps. Here’s how to accomplish it:
- Step 1: Log in to NetBanking/App: To access the online banking platform of your bank, enter your credentials
- Step 2: Select the Loan Section: Select the “Loans” or “Loan Accounts” area.
- Step 3: Look for “Download Statement” or “Loan Passbook.” A lot of institutions offer the ability to download a statement for a specific time frame.
- Step 4. Choose the Time Frame & Download: Select the time frame (such as the previous fiscal year) and download the PDF.
Uses of a Car Loan Statement:
- Filing taxes: Assists in obtaining interest deductions, if any.
- Resale Purposes: Needed to demonstrate loan status when selling the vehicle.
- Pre-Closure Planning: To determine the amount owed and the prepayment fees.
Tips for Managing Your Car Loan Smartly
- Establish EMI Reminders: Preserve your credit score and prevent late fees.
- Track Interest Paid: This aids in tax deductions and financial planning.
- Consider pre-closure or partial payments, which reduce loan terms and lower the overall interest paid.
Comparison of all banks providing the Car Loan Balance checking feature:
|
Bank |
App Available |
Netbanking |
SMS |
Customer Care |
|
SBI |
Yes, via YONO | ✅ – Yes | ✅ – Yes | 1800 1234 |
|
HDFC |
Yes, via the HDFC App |
✅ – Yes |
✅ – Yes |
1800 202 6161 |
|
ICICI |
Yes, via iMobile |
✅ – Yes |
✅ – Yes |
1860 120 7777 |
|
Kotak |
Yes, via Kotak 811 |
✅ – Yes |
✅ – Yes |
1860 266 2666 |
|
Axis |
Yes, via Axis Mobile |
✅ – Yes |
✅ – Yes |
1860 419 5555 |
|
Bank of Baroda |
Yes, via BOB World |
✅ – Yes |
✅ – Yes |
1800 5700 |
| PNB | Yes, via PNB One | ✅ – Yes | ✅ – Yes |
1800 180 2222 |
|
Tata Capital |
Yes, via Tata Capital |
✅ (via portal) |
❌ – No |
1860 267 6060 |
FAQs
- Can I check my car loan balance without net banking?
Ans: Yes, you can check it by going to the bank branch, sending an SMS, or contacting customer service.
- Is checking the loan balance chargeable?
Ans: The bank determines this; while some banks may charge a little fee, others may provide it for free.
- Can I check my car loan balance via the UPI apps?
Ans: While some banks offer loan details in their UPI-connected mobile banking apps, the majority of UPI apps do not allow direct loan balance checks.
- Why is my loan balance not updated in the app?
Ans: A delay in system upgrades, network problems, or unprocessed outstanding payments are a few possible causes.
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