Buddy Loan Personal Loan
Buddy Loan online allows you to get a loan up to Rs 15 lakhs if you meet the personal loan eligibility criterion. Within 15 minutes after submitting the application, you will receive a response.
A personal loan is a standard loan that Buddy Loan aggregators may provide. You don’t have to put up any collateral to get a personal loan. Applying for one is simple (you may do it online) and you can use the funds for nearly any purpose.
Leading banks and non-banking financial companies (NBFCs) provide loans at competitive interest rates.
Personal loan highlights:
Get it immediately, with an approval rate of 80%.
Loan Approval:
Take advantage of the opportunity to network with executives from other financial institutions (banks & NBFCs). There is less space for a personal loan!
Minimal & swift documentation:
With the correct collection of documentation, loan acceptance is easier and faster. The procedure necessitates a basic document set and may differ slightly from lender to lender based on your unique loan needs.
Collateral-free loans:
Quick Personal Loans does not require any security submitted for approval.
It collects information from lenders and borrowers to improve lending transparency.
Flexible repayment options:
Personal loans are simple to get and have open-ended repayment terms. Here you may select your loan repayment type and term. (Ranges from three months to five years)
High Approval Rates & Safety:
Increase your trustworthiness by applying for an online personal loan with a high acceptance rate. There are no unlawful or unapproved practices on the API platform. It is entirely risk-free.
Get Instant Assistance:
Our Buddy Loan support staff can help you with various EMIs, questions, and problems, transactions, loan terms, pre and post-payment, and acknowledgment.
Documents for personal loans and eligibility:
Proof of identity & address: You may submit your Aadhaar card and PAN card for quick personal loan approvals.
- Voter ID
- Passports
- Driving Licence
On the other hand, are acceptable.
Proof of income: A three-month wage slip from your current employer or company can be used as proof of income for a personal loan. Please keep in mind that the list of papers may differ somewhat from one lender to the next.
Eligibility Criteria:
Any salaried or self-employed person is eligible for a personal loan:
- The ideal age range is between 24 and 60.
- A basic income of 20,000 or more qualifies you for a personal loan online.
- You can acquire a personal loan for a minimum of Rs. 10,000 and a highest of Rs.1.5 Lakhs you are salaried or self-employed.
- Buddy Loan services are offered in India’s main cities and towns.
- Provide the last 3 months’ salary slips, which should support the current income criteria.
- Have a CIBIL score of between (700 – and 900).
- If you have a good credit history, you can get a loan approved faster and at a cheaper interest rate.
Calculate your EMI for a personal loan.
Now is the time to make a proactive decision to satisfy your financial needs. The better technique to choose your lender and the necessary loan amount for your loan application:
Personal loan amount based on your salary:
Your monthly payout – EMI = [P x R x (1+R) ^N]/ [(1+R) ^N-1]
Representative Example:
For Rs.1,00,000/- borrowed for 1 year, with interest rate @13% per annum*, a user would pay:
- Processing fee (@ 2%) = Rs.2,000/- + GST = Rs.2,360/-
- (Line setup fee of Rs.499/- +GST = Rs.588/- to be paid before starting the credit line
- Interest = Rs.7,181/-
- EMI = Rs.8,932/-
- Total amount to be repaid after a year = Rs.1,10,129/-
- *Your interest rate is determined by your risk profile.
- The maximum Annual Interest Rate (APR) can go up to 36%
- (However, only a small percentage of our clients receive an interest rate greater than 30% every year.)
FAQs
Q-1 Q-1 which situation can we apply for a personal loan?
- Any necessity or price may be met with a personal loan. It can assist you in managing a range of financial issues, including:
- Travel \wedding
- Employed by a multinational corporation, a public or private enterprise, or self-employed.
- Emergencies in medicine
- Renovating your home
- With the right education comes many more emergencies.
Q-2 How can I Calculate EMI for a Personal Loan?
- The application process for a personal loan with Buddy loan is straightforward.
Q-3 Does Buddy loan have any pre-payment charges to disburse a personal loan?
- No, there are no pre-payment penalties with a Buddy loan.
Q-4 What is the minimum loan salary required to avail of a personal loan?
- Buddy Loan Aggregator provides the simplest personal loan application process.
Q-5 Why should you choose a personal loan by buddy loan?
- Instant Loan
- There is very little documentation.
- Term lengths that are flexible
- There are no hidden fees.
- Fill out the online application form to get a personal loan.
Q-6 How to apply for a personal loan with Buddy loan?
- A personal loan may be obtained quickly with no collateral, minimum documentation, and a variety of financing alternatives. The procedure is simple, quick, and directed to ensure a smooth lending transaction.
Improve your loan’s reputation by taking out a personal loan with no defaults.
1: Go to https://www.buddyloan.com/ and download the Buddy Loan app from the Google Play Store. To verify and compare loan features online, go to our website.
2: Fill in all of your personal information as well as the projected loan amount.
3: Upload all of your supporting documents to the internet.
4: From the dashboard panel, select a lender.
5: Submit an application for a loan.
Disclaimer: We only provide information regarding applications, loans, NBFCs, jobs, and new programs after thoroughly reviewing their official websites. Buddy Loan App will provide you with the loan.
