It becomes extremely difficult to meet such financial emergencies if you do not have savings, and asking for major financial support from your friends or relatives may not be a good idea. During such circumstances, a personal loan can help you. If you are looking for a personal loan to meet any financial requirement choose the Buddy Loan app.
Buddy Loan is not just an instant personal loan app from where you can apply for a personal loan online in the most seamless way, it is your one-stop solution that helps you find and apply for your dream job, discover numerous deals and offers from brands across sectors, and earn and redeem reward points for exciting products.
Features of Buddy Loan
Following are the some attractive Buddy loan details and features:
The approval rate of buddy personal loan is 80%.
Buddy loan is instant and hassle-free. Your loan request approved within 48 hours of submitting the application.
You can choose the loan amount of your choice starting from Rs. 1,000 to Rs. 15 Lakhs.
You will required to pay a line setup fee of Rs. 499 + GST = Rs. 588before starting the credit line.
Buddy loan interest rate starts from as low as 11.99% p.a.
The processing fee for Buddy Loan is 2% of the sanctioned loan amount + GST = Rs. 2,360.
You will required to pay a line setup fee of Rs. 499 + GST = Rs. 588before starting the credit line.
Why Apply For Buddy Loan ?
Buddy loan offers the following benefits:
Buddy loan follows an easy online application,approval and disbursal process. The entire process is paperless and you can repay the loan in EMIs online.
Buddy loan platform is completely safe and secure. Your details are not shared with anyone. Also, there are no hidden charges. It’s safe, instant and reliable.
The loan buddy app doesn’t levy any charges on the prepayment of the loan.
Buddy personal loans are offered with minimum documentation based on the borrower credit history and there is no need to pledge any security.
Buddy Loan offers 24×7 customer care service. You can call the Buddy loan customer care number anytime to ask for anything related to Buddy Loan products.
Buddy Loan helps you build a strong credit history and score you repay the loan on time and regularly.
Buddy Loan Eligibility Criteria
Salaried, well as self-employed persons can apply for the loan.
The applicant must be an indian citizen.
The applicant must be age between 18 to 60 years.
Salaried applicants must have least 2 years of employment with their present organization for salary purposes.
Self-employed applicants should have a minimum of 2 to 3 years in the current profession/ business.
The minimum net monthly income of applicant must be at least Rs. 15,000.
The credit score of the applicant should be at least 750 or above.
Documents Required for Buddy loan
Once you meet the eligibility criteria mentioned above you must submit the following documents are
Documents Required for Salaried Applicant:
Completely filled and duly signed with recent photograph.
Driving License or Passport or PAN Card or Voter ID Card.
Driving License, Passport, Postpaid Bill, Landline Bill, Utility Bills (electricity, water or gas), Voter ID Card, Aadhar Card.
Bank statements of the last 3 months preferably of salary account salary slips of last 3 months, Form 16/ Income Tax Returns of the last 3 months.
Document Required for Self-employed Applicant:
The Completely filled and duly signed with a recent photograph.
Driving License or Passport or PAN Card or Voter ID Card.
Driving License/ Passport/ Postpaid Bill/ Landline Bill/ Utility Bills (electricity, water or gas)/ Voter ID Card/ Pan Card/ Aadhar Card.
The Bank statements of the last 3 months preferably of salary account salary slips of last 3 months or Income Tax Returns of the last 3 months with computation of income or Balance Sheet and Profit & Loss Statements of the last 3 years and audited by a CA.
Type of Personal Loans
You can apply for any of the following buddy loan Personal loan depending on your need:
Personal loan to finance a wedding / Personal loan to get a home improvement / Personal loan to finance your travel vacation / Overdraft personal loan / Top-up personal loan / Personal loan for consumer durables.
How to Apply for Buddy Loan
The steps by steps mentioned below to apply for a personal loan through the Buddy Loan app:
Download the Buddy Loan app from Google Play Store.
After downloading the app, opt for buddy loans log in.
Fill in all your details in the application form.
Enter the desired loan amount and tenure.
Enter your phone number.
You will get an option to apply for the loan.
Fill in the eligibility form, which includes the following details are Email ID, Employment type, Company type, Industry type, Current company’s name, Company address, Year of employment, Monthly in-hand salary, Mode of salary, PAN card details, Full name as per your PAN card, PIN Code of current residence, Mobile number.
Now will have an option to select from the multiple offers. You will be shown various lenders’ options based on your eligibility.
Submit the details and complete your application process.
Representative of Buddy Loan will contact you to confirm the details entered by you before sharing your application with the lender.
Wait for the approval and amount disbursal is directly to your bank account.
You can also check the Buddy loan application status through the app.
Products Offered by Buddy Loan
You can also avail of the following products from the buddy loan app are business loan, travel loan, marriage loan, car loan, two-wheeler loan, medical loan, education loan, home loan, gold loan.
FAQs
Is buddy loan RBI approved?
Buddy loan is the personal loan aggregator platform partnered with various NBFC lending partners which are RBI registered.
Conclusion
Taking loan from Buddy Loan app is easy and fast. All you need to do is download the app, set up your profile and upload the required documents. After verification, if your application is found correct, then the loan is transferred to your bank account within some time.