Check Loan Account Number Online: Importance of LAN and How to Find It?

When you borrow from a lender, your Loan Account Number (LAN) acts as an identifier for you as a customer. This alphanumeric code corresponds to your loan account to help you track your loan details on the lender’s web platform. 

When you get a loan, 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. 

Since everything is now digitised, the lender can easily search for your loan in their system using this number. This simplifies the management as it helps them track the number of loans through a system.

Ways to Find Your Loan Account Number

Check out the different ways through which you can find your LAN.

• Look at Your Loan Statement

When you apply for a loan, lenders periodically provide you with a statement. It includes all the essential details of your loan, including your LAN.

• Login 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.

• 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.

• Contact Customer Service

Another method of checking a loan account number is by contacting your lender’s customer service team. You can call the helpline or send an SMS or email to get the information.

• 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 verifying some requested details.

Also Read : Check Your Loan Account Details Online

Significance of Loan Account Number

Now that you are aware of what is a Loan Account number, you must check out the significance of this number. Know more below about how this number helps you make payments and support loan-relevant details while updating your data.

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 EMIs, irrespective 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 Data

Knowing your LAN is also necessary to revise your personal information. This includes updating your contact details, employment status, residential address or other information. 

Now that you know how to perform a loan account number check, you can easily keep track of repayment. To ensure this is easy on your pocket, select a lender who offers affordable financing. Get an Instant Personal 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. A bank account number is a unique number associated with each bank account you maintain with a bank or financial institution. 

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, and checking your credit report. You can also contact the lender’s customer service or visit the lender’s branch.

What is the use of a loan account number?

It can be useful to keep track of your loan status, along with providing details about the pending number of EMIs. This number is also used to track payments, check loan progress, and access account records. It is also be used to resolve loan-related concerns.