In today’s world, getting a loan has become a basic need. Buddy Loan App is a leading online platform for instant personal loans in India. The platform offers collateral-free personal loans at competitive interest rates with flexible repayment options and quick disbursal of funds. Buddy Loans aims to make personal loans accessible regardless of credit score or financial history.
Buddy App offers personal loans for multiple purposes, including home renovation, medical emergencies, education, travel, and more. Buddy Loan is available up to Rs 15 lakhs at an attractive interest rate of 11.99% per annum with flexible tenure of up to 5 years. Here, I will explain the features, benefits, and charges of an Instant Personal loan with Buddy Loan.
Buddy Loan Details
|Article Topic||Instant Personal Loan with Buddy Loan|
|Interest Rate||Competitive Interest Rate starting from 11.99% per annum.|
|Tenure Time||6 months to 5 years|
|Loan Amount||10k to 15 lakhs|
|Age||18 to 60 years|
|Buddy Loan Customer Care Number||[email protected]|
What is Buddy Loan?
Buddy Loans is a digital platform that connects borrowers with lenders. It offers a wide range of loan types like personal loans, business loans, and medical loans. Buddy Loans has a simple application process. That is designed to make it easy for you to apply for a loan. All you have to do is fill out the online application form and provide basic information about yourself and your financial situation. Buddy Loans will then match you with the best lenders for your needs.
Why choose Buddy Loan?
Buddy Loans is an online platform that offers a wide range of loans such as personal loans, business loans, medical loans, etc. Here are some of the key features and benefits of availing of a personal loan from Buddy Loans:
Easy Application Process: The application process for Buddy Loans is simple and easy. You can apply for a loan online in a matter of minutes, and you will get an instant decision.
Wide Range of Loans: Buddy App offers a wide range of loans, such as personal loans, business loans, and medical loans. This means you can find the right loan for your needs, regardless of your financial situation.
Instant Approval: With Buddy App, you can get an instant approval for your loan application. This means you can get the money you need quickly and easily without any delay.
No Collateral Required: Many loans require collateral, such as a home or car, to secure the loan. With Buddy App, you can get an unsecured loan, which means you don’t need to deposit any collateral.
Competitive Interest Rates: Buddy App offers competitive interest rates on its loans. This means you can get the money you need without paying a lot of interest.
High Approval Rate: Buddy Loans have a High personal loan approval rate, which means that even if you have a low credit score, you may still be able to avail of the loan. Buddy Loans uses advanced algorithms to match borrowers with lenders most likely to approve their loan applications.
Transparent Terms: Buddy App is transparent about its loan terms. When you take out a loan, you’ll know exactly what you’re agreeing to, and there are no hidden fees or charges.
Quick Disbursement: Once you are approved for the loan, you can receive the money in your bank account within 48 hours.
Flexible loan tenure: Buddy App offers flexible loan tenure, which means you can choose the repayment tenure to suit your needs. You can choose to repay your loan in 6 months to 60 months.
No Hidden Charges: Buddy App is transparent about its loan terms and conditions. There are no hidden charges or fees associated with its loans, which means you can be sure of the total cost of your loan.
Safe and Secure: Buddy App takes the safety and security of your loan seriously. All personal loan applications and transactions are protected by industry-standard security measures
Disbursement Amount for Loan Interest Rate: You will get loan amounts of up to Rs 15 lakhs at interest rates starting from 11.99% per annum. This means you can get the money you need at a lower interest rate, which can help you save money on your loan.
How do Buddy Loans work?
Buddy Loans works by matching borrowers with lenders. Here’s how the process works:
Fill out Online Application: The first step is to fill out the online application form. You will need to provide basic information about yourself, such as your name, address, and income.
Match you with lenders: Buddy App will then match you with the best lenders for your needs. You may receive multiple loan offers from different lenders.
Choose a loan offer: Once you have received the loan offer, you can choose the one that best suits your needs. You will be able to see the interest rate, repayment terms, and any fees or charges associated with the loan.
Accept the Loan: If you decide to accept a loan offer, you will need to sign a loan agreement and provide the lender with any additional information required.
Receive Money: Once the lender approves your loan, you will receive the money in your bank account.
Eligibility Criteria for Buddy Loan
- Age: You must be at least 21 years old and not more than 60 years old to apply for a personal loan through Buddy App.
- Income: You must have a stable source of income with a minimum monthly income of Rs. 15,000. This can be from employment, self-employment, or any other regular source of income.
- Credit Score: Buddy Loans considers your credit score while evaluating your loan application. While a low credit score doesn’t necessarily disqualify you from getting a loan, a high score can improve your chances of approval.
- Employment Status: You must be a salaried employee, self-employed professional, or business owner to be eligible for a personal loan through Buddy App. You must have at least 6 months of work experience if you are a salaried employee, and at least 3 years of professional experience if you are self-employed.
- Residence: You must be a resident of India.
Documents Required for Buddy Loan (Self & Self-employed)
To apply for a personal loan through Buddy App, you will provide certain documents to complete the application process. Here are the documents that are usually required:
- Identity proof: You will need to provide government-issued identity proof, such as a passport, Aadhaar card, driving license, or voter ID card.
- Address proof: You will also need to provide address proof, such as a utility bill, rent agreement, Aadhaar card, or driving license.
- Income proof: You will need to provide your income proof, such as salary slips for the last 3 months, bank statements for the last 6 months, or IT returns for the last 2 years (if you are self-employed).
- Employment proof: If you are a salaried employee, you will need to provide proof of employment, such as your employment contract or a letter from your employer. If you are self-employed, you will provide business proof, such as a business registration certification or GST certificate.
- Passport Size Photograph: You will also provide your recent passport-size photograph.
What are the loan types offered by Buddy Loan App?
The Buddy app offers various types of loans to its customers. Some of the loan types offered by the app are:
Personal Loan: This loan type is a multipurpose loan that can be used for any personal expenses, including medical emergencies, wedding expenses, education, travel, etc.
Business Loan: This loan type is designed for business owners and entrepreneurs who require funding for their business growth and expansion.
Home Loan: This loan type is designed for individuals who want to purchase or construct a new house or apartment.
Two-Wheeler Loan: This loan type is designed for individuals who want to purchase a two-wheeler vehicle.
Car Loan: This loan type is designed for individuals who want to purchase a car.
Education Loan: This loan type is designed for students who require funding for their higher education.
Medical Loan: This loan type is designed for individuals who require funding for their medical expenses.
How to Apply for Instant Personal Loan with Buddy Loan App?
If you want to apply for an instant personal loan through the Buddy app, you can follow these simple steps:
- Download and Install the Buddy App: Firstly, you need to download and install the Buddy Loan app from the Google Play Store or Apple App Store.
- Create an Account: After installing the app, create an account by providing your basic personal and contact details like your name, mobile number, email address, and PAN card number.
- Check Eligibility: Once you have created an account, check your eligibility for a personal loan by filling out the required details such as your income, employment status, credit score, etc.
- Choose Loan Amount and Tenure: After checking your eligibility, choose the loan amount and tenure that suits your requirements.
- Upload Required Documents: To complete your loan application, you need to upload the required documents such as your identity proof, address proof, income proof, and bank statements.
- Complete KYC Process: Next, complete the KYC (Know Your Customer) process by verifying your identity through Aadhaar Card, PAN Card, or other acceptable ID proofs.
- Receive Loan Approval: After verification of your documents, you will receive loan approval within minutes. The loan amount will be disbursed directly to your bank account within 24-48 hours.
Overall, the process of applying for an instant personal loan through the Buddy Loan app is simple and hassle-free.
Buddy Loan Repayment
Buddy App offers multiple repayment options to make it convenient for customers to repay their loans. You can choose the repayment option that suits you best. Here’s how to pay off your Badi loan:
Auto-debit facility: You can set up an auto-debit facility with your bank to ensure that the EMI amount is automatically deducted from your bank account on the due date.
Mobile App or Website: You can log in to your Buddy Loan account through the mobile app or website and pay the EMI using a net banking facility or debit card.
FAQs Related to Buddy Loan
What is Buddy Loan?
Buddy Loan is an online platform that offers personal loans to individuals who are looking for financial assistance.
How can I apply for a personal loan with Buddy Loan?
To apply for an Instant personal loan with Buddy Loan, you can download the app from Google Play Store or Apple App Store or visit the Buddy Loan website. You will fill out an online application form and submit the required documents.
What are the documents required to apply for a loan with Buddy Loan?
The documents required for a loan with Buddy Loan are Aadhar Card, PAN Card, Bank Statement, Salary Slip, and Passport size photograph.
What is the loan amount and tenure offered by Buddy Loan?
Buddy Loan offers personal loans ranging from Rs. 10,000 to Rs. 15 lakhs with a tenure of 6 months to 5 years.
How long does it take for Buddy Loan to disburse the loan amount?
The loan amount is usually disbursed within 24-48 hours after the loan is successfully approved.
What is the interest rate charged by Buddy Loan?
The interest rate charged by Buddy Loan starts from 11.99% p.a. and varies based on the borrower’s profile, loan amount, and tenure.
How can I track my loan application status with Buddy Loan?
You can track your loan application status through the Buddy Loan app or website. Once you log in to your account, you can check the status of your application.
What is the repayment process for Buddy Loan?
You can repay your Buddy Loan through equated monthly installments (EMIs) using the mobile app or website. You can also set up an auto-debit facility or make payments by visiting the nearest bank branch.
What happens if I miss an EMI payment with Buddy Loan?
If you miss an EMI payment, Buddy Loan will charge a late payment fee. It is necessary to make loan repayments on time to avoid late payment charges and maintain a good credit score.
How can I contact Buddy Loan customer support?
You can contact Buddy Loan customer support through the mobile app, or website, or by calling their customer support number.
Buddy Loan is a reliable and convenient online platform that offers personal loans to individuals who need financial assistance. With easy and quick online application processes, borrowers can get loans ranging from Rs. 10,000 to Rs. 15 lakhs with a tenure of 6 months to 5 years. Buddy Loan offers affordable interest rates starting from 11.99% p.a., and the loan amount is usually disbursed within 24-48 hours of loan approval.
Buddy Loan has a user-friendly mobile app and website that allows borrowers to track their loan application status, make repayments, and access customer support. Choosing Buddy Loan for your financial needs can help you save time, money, and effort.