Buddy Loan, a first-of-its-kind platform, built with the latest features and technology, lets you experience a hassle-free journey of getting a personal loan to meet your personal financing needs. By applying for a loan through Buddy Loan, you can now turn the odds in your favor and can fulfil your dreams of going on that dream vacation, having a dream wedding, pursuing that international academic course, getting a renovation done, or even buying your own dream bike or car.
With the highest loan approval rate in the industry, a solution to each of your financial nuance – be it a medical emergency or a personal loan requirement to turn your dreams into a reality - is now at your fingertip.
Completely online process, best interest rate, a pool of transparent and trustworthy loan providers, flexible repayment options, complete transparency, easy process, minimal documentation and customer-friendly approach are just some of the many reasons why Buddy Loan might just be the best platform to use to meet all your personal financing requirements. Helping people realize their dreams is our foremost priority. So, come and help your dreams to manifest in reality by applying for a loan from Buddy Loan.
Any Indian citizen - be it salaried, professional or self-employed - can apply for a personal loan.
Should have a valid Aadhaar card and PAN card
Should have valid income proofs (if salaried) and company and GST documents and details (if self-employed)
Should meet the minimum edibility criteria of the lender. However, the criteria may differ from one lender to another.
Factors that lenders usually consider while granting or rejecting your loan application:
Lenders rely on the repayment analyzing your credit history. If you have poor credit history, your loans are approved at a higher interest rate.
Your income is an assurance for repayment. Lenders easily approve loans for salaried citizens. You could benefit a lower interest rate for your loans.
Most banks and NBFC’s offer loan amount to people between 21 and 60 years of age. The younger you’re the more will be the chances of getting the loan approvals easily.
If your employment is temporary the lenders are skeptical about approving your loans.
If you decide to avail a loan from the bank which has your account, then a good relationship with your lender could get you a loan from the same bank for a lower interest rate for the loan.
Lenders also rely on the reputation of the organization you work with to access your loan application for lower interest rates.
Your loans are rejected on the go if you have an outstanding loan pending in your credit history.