how to write a personal statement for finance

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How to Write a Strong Personal Statement

• Ruth Gotian
• Ushma S. Neill

A few adjustments can get your application noticed.

Whether applying for a summer internship, a professional development opportunity, such as a Fulbright, an executive MBA program, or a senior leadership development course, a personal statement threads the ideas of your CV, and is longer and has a different tone and purpose than a traditional cover letter. A few adjustments to your personal statement can get your application noticed by the reviewer.

• Make sure you’re writing what they want to hear. Most organizations that offer a fellowship or internship are using the experience as a pipeline: It’s smart to spend 10 weeks and $15,000 on someone before committing five years and $300,000. Rarely are the organizations being charitable or altruistic, so align your stated goals with theirs
• Know when to bury the lead, and when to get to the point. It’s hard to paint a picture and explain your motivations in 200 words, but if you have two pages, give the reader a story arc or ease into your point by setting the scene.
• Recognize that the reviewer will be reading your statement subjectively, meaning you’re being assessed on unknowable criteria. Most people on evaluation committees are reading for whether or not you’re interesting. Stated differently, do they want to go out to dinner with you to hear more? Write it so that the person reading it wants to hear more.
• Address the elephant in the room (if there is one). Maybe your grades weren’t great in core courses, or perhaps you’ve never worked in the field you’re applying to. Make sure to address the deficiency rather than hoping the reader ignores it because they won’t. A few sentences suffice. Deficiencies do not need to be the cornerstone of the application.

At multiple points in your life, you will need to take action to transition from where you are to where you want to be. This process is layered and time-consuming, and getting yourself to stand out among the masses is an arduous but not impossible task. Having a polished resume that explains what you’ve done is the common first step. But, when an application asks for it, a personal statement can add color and depth to your list of accomplishments. It moves you from a one-dimensional indistinguishable candidate to someone with drive, interest, and nuance.

• Ruth Gotian is the chief learning officer and associate professor of education in anesthesiology at Weill Cornell Medicine in New York City, and the author of The Success Factor and Financial Times Guide to Mentoring . She was named the #1 emerging management thinker by Thinkers50. You can access her free list of conversation starters and test your mentoring impact . RuthGotian
• Ushma S. Neill is the Vice President, Scientific Education & Training at Memorial Sloan Kettering Cancer Center in New York City. She runs several summer internships and is involved with the NYC Marshall Scholar Selection Committee. ushmaneill

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• Finance Personal Statement Examples

Here are two finance personal statement examples from some of the best students in undergraduate and postgraduate programmes. Both examples you can use as inspiration and motivation to write your own personal statement for university . 

Finance Personal Statement

Ever since I discovered my passion for the finance industry at a young age, I have been determined to pursue a career as a financial consultant and advisor. It is this unwavering ambition that has led me to apply for the MSc course in Finance at the esteemed London School of Economics and Political Science (LSE). I firmly believe that this course will provide me with the necessary tools and knowledge to achieve my career goals by expanding my understanding of financial products, the intricate workings of financial markets, and investment banking.

The reputation of LSE as a university of academic excellence is one of the key reasons for my decision to apply. I am aware of the university’s ability to equip students with critical analysis skills that are essential for becoming leaders in their chosen sectors. Moreover, being located in the heart of London provides unparalleled opportunities for networking and professional development in the world of business and finance. The course’s comprehensive approach, which strikes a balance between theoretical and practical modules, is also highly appealing to me.

My educational background in accounting has laid a solid foundation for my advanced studies in finance. Through my coursework in accounting, I have developed strong numerical skills and gained practical experience in management accounting and reporting roles within financial firms. It was during my studies that I discovered a particular interest in Strategic Financial Management, where I was introduced to financial products such as equities, derivatives, fixed income, and bonds, along with their significance in financial markets. Building on this knowledge, I have become a qualified accountant and have gained valuable work experience as an Associate at Deloitte, where I am part of the project management team, responsible for decision support. This role has honed my ability to work under pressure and within tight time constraints, allowing me to meet urgent and conflicting deadlines.

To stay up-to-date with the dynamic financial market, I avidly follow financial news through subscriptions to reputable media platforms such as the Financial Times, the Economist, and Bloomberg. Additionally, I engage in various hobbies such as travelling, watching movies and documentaries, and reading to broaden my knowledge and stay informed about current affairs. As a sports enthusiast, I follow tennis, football, boxing, and Formula One racing. These diverse interests have cultivated qualities such as ambition, intuition, focus, and self-discipline, which drive me to excel in any endeavour. I value the input and opinions of others, making me an effective team player, while also possessing the independence and initiative to work autonomously. I firmly believe that these qualities will contribute to my success as a finance analyst and enable me to excel academically.

Looking toward the future, I aspire to establish a reputable financial consulting firm in my home country, Nigeria. This firm would provide a range of financial services to both companies and public institutions. I recognise that achieving this goal will require years of experience, cultivating the right connections, and personal determination. Pursuing an MSc in Finance from LSE will better equip me to manage corporate, strategic, and financial opportunities, while also providing the opportunity to learn from talented professors and compete with exceptional graduates. I am convinced that this course is a crucial step toward realizing my long-term aspirations.

The increasingly evident impact of financial risk on our world has captivated my interest like never before. The interplay between the financial sector, government, and the general public dominates news stories, emphasizing the significance of understanding the industry. With my passion for finance nurtured from an early age, I have dedicated myself to attaining a comprehensive understanding of both the theoretical and practical aspects of global finance through high-level studies and extensive work experience in diverse industrial and international contexts.

Currently, in my fourth year of a degree in Finance, Risk, and Investment at Caledonian University, I have developed a strong foundation of knowledge in the field. Moreover, I have delved deeper into specific areas

Finance Personal Statement Example

Since my early years, extensive international travel has shaped my perspective on the world, particularly the stark economic contrasts between the ‘Third World’ and the ‘Western World.’ Having the privilege of experiencing different cultures and economies through my parents, who have lived in Africa, Europe, and the USA, I have developed a deep curiosity about the mechanisms that drive global economies. This curiosity has led me to pursue Economics at A Level, as I believe it is at the core of world discussions and can provide a comprehensive understanding of current news articles and their correlation to the subject.

Through my readings, such as Tim Harford’s ‘The Undercover Economist,’ I have come to appreciate the analogy that economics is like engineering, offering insights into how things work and the consequences of changing them. I see economics as an intricate puzzle, requiring economists to integrate economic theories with government policies to solve complex economic problems. Attending conferences at prestigious institutions like the University of Warwick and Oxbridge has broadened my perspective on economics, with theories like Freakonomics intriguing me and sparking a desire to explore the unexpected links between seemingly unrelated phenomena.

My passion for economics is complemented by a strong affinity for mathematics , which has been nurtured since my childhood. From playing mental maths games to tackling complex problem-solving at A Level, I have developed analytical abilities that were put to the test during a taster day at Cass Business School. Through quick thinking and effective teamwork, I excelled in a trading shares simulation, resulting in my group being the most profitable. Furthermore, my participation in a business management enterprise day at the University of the West of England allowed me to showcase my skills, leading to the recognition of the ‘Best Business Idea.’

To gain practical experience in the finance sector, I sought work opportunities that would provide me with invaluable insights. My time at Britannia Building Society exposed me to the inner workings of retail banking, allowing me to shadow the branch manager, work closely with financial planning advisors, and handle transactions at the tills. This experience introduced me to financial assets, including options for investing in bonds, shares, and increasing savings. Additionally, working at Harrison’s Accountancy and Insolvency Agency gave me valuable knowledge about liquidations and insolvencies of businesses, further solidifying my interest in pursuing a career in finance.

Staying updated with current financial affairs is crucial to me, and I regularly read the economy sections of reputable sources such as the BBC website and The Economist. Subscribing to a weekly update from RBS provides me with topical developments in the financial markets. Alongside my commitment to academic and professional pursuits, I have also developed essential skills through my job at O2 Retail. This experience has sharpened my interpersonal skills and honed my ability to negotiate mutually beneficial deals for both customers and the company. As a captain of my football team, I have learned the value of leadership, motivation, and maintaining high team morale, skills that have translated into success in class debates and the trading shares simulation at Cass Business School.

During a recent trip to Switzerland, I had the opportunity to meet with the assistant vice president at Credit Suisse, who shared insights into exchange rate processes within a leading investment bank. These conversations further solidified my understanding of the close relationship between economics and the finance sector.

Through a comprehensive study of Level Economics and practical experiences, I have been able to bridge the gap between theory and real-world situations. Engaging with professionals in the field has deepened my appreciation for the vital connection between economics and finance. I am confident that pursuing a university education will equip me with the necessary knowledge and skills to navigate the dynamic and fast-paced world of financial markets.

My passion for finance and economics was sparked by the Lehman Brothers’ bankruptcy and the subsequent financial crisis when I was 21 years old. The events of that

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Your chance of acceptance, your chancing factors, extracurriculars, personal statement for financial aid: what are some good examples.

Hey everyone, I'm currently working on my financial aid application and I'm stuck at writing a personal statement. Can anyone share some examples of personal statements that have worked for them? I could really use some guidance. Thanks!

Hi! Writing a personal statement for a financial aid application can be challenging, but it's a great opportunity to share your story and explain your financial circumstances. Here are some general tips and examples to help you get started:

1. Start by providing an introduction that outlines your personal background and family situation. You can mention any specific hardships your family has faced, such as job loss, medical expenses, or other challenges that have impacted your ability to afford college.

Example: "I come from a hardworking family of five. My parents have always done their best to provide for us, but over the years, financial hardships have made it difficult to meet all our needs. Two years ago, my father lost his job, which forced my mother to work longer hours at her minimum-wage job."

2. Describe your educational journey and how a lack of financial resources has affected it. This is your opportunity to show your commitment to education and explain how financial aid will be instrumental in helping you achieve your goals.

Example: "Despite the financial challenges my family has faced, I have remained dedicated to my education. I am a first-generation college student and have worked hard throughout high school, maintaining a 3.8 GPA and participating in extracurricular activities. However, I've often had to sacrifice important opportunities, such as attending college prep programs or participating in school trips, due to financial constraints. Receiving financial aid will allow me to fully commit to my college education without these limitations."

3. Emphasize your achievements and the obstacles you've overcome. This can include academic achievements, extracurricular involvement, or any personal triumphs that demonstrate your determination and resilience.

Example: "To help support my family, I've taken on a part-time job while maintaining my academic and extracurricular commitments. I have also volunteered at a local food bank and found new ways to give back to my community despite limited resources. These experiences have taught me the true value of perseverance and hard work."

4. Conclude by expressing your gratitude for the opportunity to apply for financial aid and reiterate how it will impact your future. Explain how receiving financial assistance will not only benefit you but also contribute to your long-term goals and aspirations.

Example: "Receiving financial aid will not only allow me to attend college but will also lessen the burden on my family and provide me the chance to focus on my studies and future career. My goal is to major in computer science and use my education to create innovative solutions that address pressing issues in my community and the wider world. I am grateful for any support that will help me achieve this dream."

Remember to make your personal statement unique to your story and circumstances. Use your own voice, stay authentic, and don't be afraid to showcase your accomplishments and challenges. Best of luck with your financial aid application!

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Vatican conference on ‘climate resilience’ is the latest in a long line of environment initiatives by Pope Francis and the Catholic Church – 5 essential reads

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From May 15-17, 2024, American leaders including California Gov. Gavin Newsom and Massachusetts Gov. Maura Healy will be attending a global conference on environmental issues. The host? The Vatican.

The summit, “ From Climate Crisis to Climate Resilience ,” will focus on human adaptation, not just trying to mitigate climate change. “We need to embark on building climate resilience so that people can bend the emissions curve and bounce back from the climate crisis safer, healthier, wealthier to a sustainable world,” the Pontifical Academy of Sciences said in a statement announcing the workshop.

The Catholic Church might seem a surprising institution to convene a climate change event. But many saints, activists and religious leaders have called on their faith to inspire care for the Earth . Pope Francis in particular has been vocal about the risks of climate change , especially its impact on the world’s poorest and most vulnerable people.

Here are five aspects about Francis’ views – and Catholicism’s broader relationship with the environment – that scholars have written about for The Conversation.

1. God’s creation

Care for the Earth has a long Catholic lineage, dating back centuries.

“One of the basic beliefs of Christianity is that the material world was created directly by God, and thus fundamentally connected with God’s goodness,” explained Joanne M. Pierce , a religious studies scholar at College of the Holy Cross.

One saint who took that teaching to heart was Hildegard of Bingen, who died in the 12th century. A German expert on herbal medicines and botany, she was also a writer, and she “espoused a kind of ‘green’ theology, called viriditas.”

Another Catholic saint famous for his love of nature is Francis of Assisi, the patron saint of ecology: an Italian friar described as treating animals “with the same dignity as human beings.”

Read more: Caring for the environment has a long Catholic lineage – hundreds of years before Pope Francis

2. Faith – and reason

In fact, when Pope Francis published an encyclical on the environment in 2015, he took its title from one of his namesake saint’s poems: “Laudato si.”

The encyclical links concern for climate change with Catholic teachings. But it is not just meant for Catholics; Francis also makes science-based arguments that people can appreciate with or without religious faith, noted Lawrence Torcello, a philosopher at the Rochester Institute of Technology .

“Laudato si” is a notable “example of how reason ought to be incorporated into public discourse ,” Torcello wrote. In a time as polarized as our own, arguments need to be framed in a way that anyone can understand, even if they don’t agree, “regardless of private religious or parochial commitments.”

Read more: The pope as philosopher: faith, climate change and public reason

3. An influential messenger

Similarly, University of Michigan business scholars Andrew Hoffman and Jenna White zoomed in on the pope’s ability to speak to people beyond divides: Catholics and non-Catholics, Republicans and Democrats, people who care deeply about climate change and others that are skeptical about it.

In the United States, they pointed out, debates over climate change are often more about worldviews than about scientific proof. “Calling on people to protect the global climate because it is sacred … will create far more personal commitment than a government call for action on economic grounds or an activist’s call on environmental grounds,” the pair wrote.

Read more: The pope as messenger: making climate change a moral issue

4. Environmental front line

Francis has often highlighted climate change’s unequal impact on people across the globe. That was on display in 2019, when the Vatican hosted a “ Synod of the Amazon ” – a region especially threatened by environmental destruction.

“As a theologian who studies religious responses to the environmental crisis, I find the pope’s effort to learn from the indigenous people of the Amazon noteworthy,” wrote University of Dayton professor Vincent Miller .

“Some might dismiss this synod as just a meeting,” he acknowledged. But “the Synod of the Amazon marks a significant shift from high-minded papal exhortations about taking climate action to a global religious community that gives voice to those living on the front lines of ecological destruction.”

Read more: Pope affirms Catholic Church's duty to indigenous Amazonians hurt by climate change

5. Warnings and wonder

In 2023, Francis released an addendum to “Laudato Si.” Like the original document, it linked environmental, social and technological challenges – such as by rebuking wealthy countries and individualistic attitudes for ignoring climate change’s impact.

In the pope’s eyes, “all life exists in relationships,” wrote Lisa Sideris, an environmental ethicist at UC Santa Barbara: nature, human beings and the divine. “Francis’ social critique, I believe, stems from his vision of life – one filled with awe for the depth of meaning and mystery to be found in an interconnected world.”

Part of the problem, as Francis presents it, is that people have forgotten just how deeply bound together we are – a theme likely to be front and center at this week’s summit.

Read more: The pope's new letter isn't just an 'exhortation' on the environment – for Francis, everything is connected, which is a source of wonder

This story is a roundup of articles from The Conversation’s archives.

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• Roman Catholic Church
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How To Apply for a Personal Loan

Before you apply for a personal loan, apply for a personal loan, alternatives to a personal loan, the bottom line.

• Personal Loans

Katie Miller is a consumer financial services expert. She worked for almost two decades as an executive, leading multi-billion dollar mortgage, credit card, and savings portfolios with operations worldwide and a unique focus on the consumer. Her mortgage expertise was honed post-2008 crisis as she implemented the significant changes resulting from Dodd-Frank required regulations.

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A personal loan can help you finance a wide range of expenses, such as unexpected expenses, debt consolidation, or large purchases like a new appliance or vacation.

Applying for a personal loan may seem intimidating, but it's fairly straightforward. Let's walk through the key steps for how to apply for a personal loan as well as actions you can take ahead of time to make the process go more smoothly.

Key Takeaways

• Determine how much money you need and the amount of monthly payments you can afford to pay so you avoid borrowing too much.
• Check your credit score and credit report to understand how lenders will view you as a borrower.
• Research lenders and then get pre-qualified to narrow your personal loan choices.
• Gather copies of required documents to save time.

When you apply for a personal loan from any lender, you’ll likely go through each of these key steps, which we review in more detail below:

• Determine how much you need : Is the loan for a home improvement ? A vacation? To consolidate debt ? Whatever the need, be sure you understand how much you need, as a first step.
• Review your finances : With an amount in mind, look at your financial situation. Can your budget support another monthly payment? How is your credit score?
• Research and compare lenders : Lender options are limitless. Narrow your options by starting with your current bank and researching lender reviews , including those from Investopedia.
• Pre-qualify : Most lenders will allow you to pre-qualify—without damaging your credit score. Go through the process with at least three lenders to review rates, terms, fees, and estimated payment amounts.
• Apply : Once you've selected a lender, complete a formal application.

Most loan applications take only a few minutes to complete (and funding can arrive the next day—or sooner). But the process before you apply can take a little longer.

Determine How Much You Need

Consider why you're applying for a personal loan and estimate how much you'll need to borrow. This is a key step in getting a personal loan. You can borrow between $250 and $100,000, so honing in on an appropriate amount will prevent you from borrowing more than you need. Later in the process, this information can help you narrow your options because permitted loan amounts and interest rates vary by lender.

Review Your Finances

Assess your finances to figure out what you can afford before you apply for the loan. Review your income and expenses to understand your budget , or how much money you have coming in and going out each month. Can your budget handle another monthly payment? How much can you comfortably add?

Check your credit score , too, because it will play a role in your loan eligibility and interest rate. Higher credit scores improve your odds of approval and allow you to qualify for lower rates. If your credit score is lower than you expected, review your credit report to see whether it includes errors that need to be disputed.

Research and Compare Lenders

Shop around with banks, credit unions, and online lenders to compare loan amounts, interest rates, terms, and fees. Review loan requirements, if they're available. For example, some lenders have a minimum credit score, income, or loan amount requirement, or only offer loans in certain states.

Read personal loan and lender reviews and ratings to help you zero in on the best personal loan lenders , and then rank your top choices. Interest rate is always a key consideration, but many borrowers say they are most satisfied when they work with a lender whose products, such as credit cards, savings accounts, and other types of loans, they already have, according to J.D. Power.

J.D. Power, an industry intelligence research firm, also found that, in the current climate of high interest rates, customer satisfaction with consumer loans is highest among those with the greatest levels of financial health and significantly lower among those who are overextended or financially vulnerable.

Lenders that ask for an upfront fee or that guarantee approval are often scammers.

Pre-Qualify

Most lenders offer pre-qualification that allows you to view the loan terms you are likely to be approved for. To pre-qualify, you usually only have to enter a minimum amount of information: your personal identifying information, income or employment details, and desired loan amount. The lender will review your information and do a soft credit check , which unlike a hard inquiry that will occur when you officially apply, won't affect your credit. A soft credit check can give you a preliminary decision, but keep in mind it doesn't guarantee you'll get approved.

With the preparation out of the way, and your choice of lender set, you can apply.

Many lenders offer online applications, which are quick and convenient. Some lenders, particularly traditional banks, may require you to apply in person. Either way, the loan application will ask for personal and financial information, like your name, home address, and employment information. You may have to provide additional documents, including your:

• State-issued ID
• Proof of residence
• Income documents, like a bank statement or pay stub

After you submit the application, wait for the results, which may be within minutes or may arrive in a few days. You'll receive a decision faster if your application is complete and free of errors.

If you're approved, the next step for how to apply for a personal loan is to review your final loan documents, then accept and sign them. Your loan documents will include the loan amount, interest rate, repayment term, and monthly payment amount. Within a few days of acceptance, you should receive funds in your bank account or in a check, if you opt for that method of payment.

Loan applications involve a hard credit pull , which can hurt your credit score. If you're shopping around with multiple lenders, your applications will be treated as one credit inquiry if they are made within a 14-day window. That limits damage to your credit score.

Investopedia / Jake Shi

If you need financing for a large expense but don’t want to use a personal loan, you can consider alternative options. Some of them include:

• Credit card installment plan : You can pay off large transactions with fixed payments with a credit card installment plan. If your purchase is eligible, you can select the installment plan option through your online account.
• Home equity loan or line of credit : If you use your home equity as collateral for a loan, you can usually get a lower interest rate. If you have enough equity and good credit, you can borrow a percentage of your home equity, typically no more than 80%.
• Savings-secured loan : You can use your savings account balance as collateral for a loan with a savings-secured loan. These loans are generally fixed-rate loans that may allow you to borrow up to 100% of the amount in your savings account. However, if you can’t afford to repay the loan, you will lose your savings to the lender.
• Family loan : Borrowing from family members can provide funds for your expenses, but this strategy does have downsides to consider. Late payments or unpaid loans can potentially damage your relationship.

How Much Can You Borrow With a Personal Loan?

You can generally take out a personal loan for up to $100,000, but several factors affect the amount you can borrow with a personal loan . Maximum amounts vary by lender and your state. Lenders will consider your credit history, ability to pay, and other factors to determine your loan amount.

How Long Does It Take To Get a Personal Loan After You Apply?

It can take several business days to get a personal loan . First, the lender will review and approve your application. You'll have to review and accept the loan agreement . After signing, you could receive your funds the next day or it may take several business days to receive your funds, depending on the lender.

Can You Return a Personal Loan If You Don’t Use It?

Depending on the lender, you may have a limited time to cancel and return a personal loan with no interest or penalty. Otherwise, if your lender doesn't offer the option to return your loan, you can pay it off immediately, although you may be subject to interest and prepayment penalties .

Does Your Credit Score Go Up After Paying Off a Personal Loan?

The impact on your credit score of paying off a personal loan depends on the information in your credit history. Your credit score may drop after paying off a personal loan if you don't have any other open installment loans on your credit report because it will affect your credit mix.

When preparing to apply for a personal loan, figure out how much money you need and the amount of monthly payments you can afford so you avoid taking out too large a loan. Next, check your credit score and credit report to understand how lenders will view you as a borrower.

Research lenders and get pre-qualified to narrow your lender choices. Finally, pull together copies of required documents to save time when you start applying to get a personal loan. Many lenders offer online applications, which are quick and convenient.

SoFi. " Frequently Asked Questions ."

Navy Federal Credit Union. " Personal Loans ."

Consumer Financial Protection Bureau. “ Where Can I Get My Credit Score ?”

U.S. Bank. " Apply for a Personal Loan ."

J.D. Power. " Consumer Loan Satisfaction Strained by High Rates and Deteriorating Financial Health, J.D. Power Finds ."

Federal Trade Commission. " What To Know About Advance-Fee Loans ."

Wells Fargo. “ Personal Loans FAQs .”

Office of the Comptroller of the Currency. " Is the Bank Required To Provide Truth in Lending Disclosures for All Loans ?"

Consumer Financial Protection Bureau. " Will a Lender Getting a Copy of My Credit Report Affect My Score ?"

Federal Trade Commission. " Home Equity Loans and Home Equity Lines of Credit ."

Regions. “ Deposit Secured Loan .”

LendEDU. “ Personal Loan Limit .”

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• Personal Loan Statement – How to download and view the...

Personal Loan Statement – How to download and view the statement

Whenever you take a personal loan from a bank, there is a lot of documentation involved in the entire process. Once the loan application is approved, you get the amount deposited in your bank and your repayment process also starts. Now, how do you keep track of how much you have to repay each month? How much is the interest? By which date do you have to complete the personal loan EMI payment? All of this is recorded within one single document, which is known as the personal loan statement. 

Read this blog to find out how you can read your personal statement, download the statement and how to get the most out of it.

What is a personal loan statement?

Your personal loan statement is a document generated by the bank that issues you the personal loan. This document has detailed records of all the payments you have made, how much is left and a lot more. 

Read more: What is the minimum salary required to get a personal loan?

How to download your personal loan statement?

There are many ways via which you can download your personal loan statement. Here are some of them:

Use a Net banking platform

Net banking facilities are very commonplace now. Every well-established institution or bank offers these facilities nowadays. You can use the Net Banking platform of the bank from which you applied for the personal loan to generate your personal loan statement. Ideally, you will find the loan-related options right under the loan section.

Through the mobile app

If you do not want to use the net banking platform, you could also take the help of the mobile app from the bank that lent you the personal loan. Most of the financial institutions and banks in India now have their very own apps, which you can use to download and view personal loan statements. 

On your e-mail ID

There are many banks that also use an automatic e-mail service to send your personal loan statement. However, if you do not receive it automatically, you could also reach out to the bank and provide them with your e-mail ID to send it. 

Call the customer care

If the above steps are not working, you can always call the customer care of your bank. Inform that you wish to receive your personal loan statement every month. The bank personnel will also help you with the steps on how to view your personal loan statement easily.

Go the offline way

Finally, you can always visit the nearest branch of the bank which lent you the personal loan and ask to see the statement. 

Read more: How to get a personal loan for self-employed in India?

What can you view in your personal loan statement?

Not sure what are the things in your personal loan statement and how you can read it? Here’s what you should look at:

• You will be able to see all the crucial details of your personal loan statement – the loan amount you borrowed, the loan tenure, if your rate of interest is floating or fixed and more
• The last date of the EMI payment will also be clearly mentioned within the personal loan statement
• The complete history of all the EMIs that you have paid till now will also be visible 
• If you ever miss out on an EMI payment, that will also be highlighted
• Any fines for late payments will also be mentioned
• If you have partly foreclosed your personal loan, that will also be mentioned within the personal loan statement

Thus, your personal loan statement is a very key piece of document. As long as the loan is not being completely repaid, it is advised that you hold on to the monthly statements. 

FAQs on Personal Loan Statement

• How long does a personal loan require bank statements?

You will only need to provide a bank statement while you are applying for a personal loan.

• How do I get a copy of my loan statement?

You can get a copy of your loan statement by going to the net banking platform of your bank, click on loans and download your statement from there.

• What details are included in a personal loan statement?

You will find details such as principal loan amount, rate of interest, tenure, EMI payments due, any late payment fees due, etc.

• Why is the statement for my personal loan significant?

Your personal loan statement will provide all the information that you want regarding your personal loan. It is an important document which helps you keep track of all your personal loan details.

• How often is a statement for a personal loan produced?

Your personal loan statement is generated each month.

• Why do lenders require access to bank statements?

Your lenders always ask for access to bank statements as it helps them determine whether you are a responsible spender or not.

• What should I do if my personal loan statement has errors?

Reach out to the customer care of your bank or visit the nearest branch for any issues with the personal loan statement.

• Can I use the statement from my personal loan for taxes?

Personal loans are not taxable so you will not have to worry about presenting the personal loan statement for taxes.

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