Personal Loan

Get Instant Personal Loan Online in Minutes

Today, getting a personal loan is not difficult, especially if you have a financial emergency. This sort of loan allows you to access the money instantly and requires minimum documentation, making them convenient for you to use.

What is a Personal Loan?

Personal loans are sums of money that can be borrowed for various purposes. It can be used for multiple things, including consolidating debts, home renovation, or for planning a dream wedding. Personal loans can be obtained from a bank, credit union, or an online lender. Typically, you must repay the borrowed money with interest over time, and there may also be fees associated with the personal loans.

Personal loans can be used for just about anything. However, sometimes some lenders want to know what you will do with the money they lend you, but as long as you've borrowed it for a responsible and legal reason, you can do what you want with it. The approval rate of personal loans has been based on the individual's credit history.

Know About Instant Personal Loans

People can have any kind of financial emergency at any time in today's world. Many people, however, don't know how to handle them. Although you may think you can deal with such situations with your savings, you never know when an emergency may arise and how expensive it may be. Hence, at the time of emergency, applying for instant personal loans can be a wise decision since they come unsecured and at a low interest rate.

An Instant personal loan online via Buddy Loan one of the easiest ways to apply for funds and to meet your financial requirements on time. It is easy to apply for a Personal loan online get it approved instantly in this digital age.

If you apply for a personal loan from Buddy Loan, you might get multiple benefits like instant funds, attractive rates, and easy EMIs. Personal loans don't need any collateral, pledges, or heavy documentation. Thus, no more lengthy applications!

There are ample benefits in store for the applicants who avail an instant personal loan via Buddy Loan.

Instant Personal Loan Features and Benefits

A personal loan via Buddy Loan is free of collateral, and there is no need to pledge on the asset guarantee to get an personal loan instant approval.

  • Online Personal Loan Overview

    It has an easy application process to get an instant personal loan. Buddy Loan has a feature integrated to help ease the application process.

    The applicant can repay the loan through EMIs over the tenure from 6 months to 5 years. Buddy Loan has a paper-free process to avail for an instant personal loan.

  • Collateral Free Instant Personal Loan

    A personal loan via Buddy Loan can be availed easily as there is no need for the applicant to submit any surety for applying for an instant loan.

    Please note that if the applicant has a record of better credit score, the chances of getting personal loan at a lower interest are high. The process is easy and faster and requires minimal documentation.

  • Flexible Loan Tenures

    The applicant can borrow up to Rs. 15 Lakhs as much as you need and then repay the loan amount through the EMI options over a tenure from 6 months to 60 months.

  • High Personal Loan Approval Rates

    Buddy Loan aggregator has disbursed loans across the country. Thanks to the hassle-free process and vast pool of instant loan providers.

    Therefore, if you are looking for a personal loan to invest & grow your savings liquidity, Buddy Loan aggregator is the right place. To stand a chance for a better approval rate, get the necessary documents and ensure they are up to date.

    As a result, the minimal and hassle-free documentation can ease and make the personal loan availing journey enjoyable.

  • Disbursal Amount for Your personal Loan Interest rate

    The minimum and maximum loan amount you can opt for when applying for a personal loan online are between Rs.10000 to Rs. 15 lakhs.

  • Better Interest Rates

    Buddy Loan personal loans are disbursed starting with an interest rate of 11.99% p.a. If the applicant's credit history is good, it can be availed at lower interest rates. It means that you can avail of a loan instantly. Banks charge fixed rates or variable rates on the personal loan.

  • Swift Personal Loan Approval

    Your personal loan is sanctioned within 48 hours of submission, and the disbursement time is, however, less than the expected time.

    Applying for instant loans is never that difficult and time-consuming anymore. We connect as promised!

  • No Hidden Charges

    No prepayment charges or any hidden fees to sort. There is no pre-booking of the personal loan that is assisted through a third-party situation. Buddy loans don't hold any fast agreements that could moderate the means between you and the lender.

  • Safety Of Your Loan

    By law, the applicant's information is held confidential with Buddy Loan from any other party apart from the lender. Buddy Loan aggregator has instantly disbursed many personal loans to applicants who hold good credit history.

What Are The Types Of Personal Loan?

Personal loans can be categorized into the following:

Personal Loans To Finance A Wedding

Weddings in India are costly compared to other countries. It can even blow away all your savings. A wedding budget that involves all your savings is not a wise choice. Wedding Loan can ease this problem and give you the chance to have the marriage of your dreams. Thus, planning a wedding is now easier than ever.

Personal Loan To Get A Home Improvement.

Are you aware of what you can do if your old house is badly in need of repairs? The costs of renovating a house often deter people from doing so. Fortunately, an instant loan can help you fulfill your dreams, from remodeling your kitchen to increasing your house's durability and comfort while also increasing its market value. Hence taking a Home Improvement Loan can help you fulfill all your needs.

Personal Loan To Finance Your Travel/Vacation.

A personal loan is an excellent option if you plan a vacation and want to pay your travel expenses without breaking the bank or affecting your monthly budget. Even though credit cards can also fulfill your needs, a holiday loan can make your travel plans easier and at a lower interest rate. Due to its convenience and economic appeal, Personal Loan for Travel be a viable alternative.

Overdraft Personal Loan

No one can predict what will happen tomorrow, but you need to prepare for the worst, don't you think? Having a personal loan enables you to have enough money in your account if there is an emergency to avoid running out of money. Compared to a traditional loan, this one comes with a higher interest rate, and you only pay interest when you use it.

Top-Up Personal Loan

Top-up loans are offered by the same lender from whom you have already taken out a loan. In a top-up loan, you need to repay it within the current term to borrow a certain amount of money over your existing loan.

Personal Loan for Consumer Durables

It is easy to get a consumer durable loan with no EMI. A durable consumer loan can be used to purchase phones, refrigerators, furniture, washing machines, microwaves, etc. An amount of the product can be divided into EMIs and repaid over a specified period. In some cases, there will be down-payments or processing fees, while in others, there may not.

Personal Loan Eligibility Criteria

Personal loans are offered by nearly all banks and NBFCs, though eligibility requirements may vary. Depending on the bank and the lending company, personal loan eligibility criteria may differ. Still, specific criteria apply to all financial institutions.

For salaried and self-employed individuals, you need to satisfy the following criteria to be approved for the online loan process:

  1. You must be a citizen of India.
  2. Your age must be between 18 to 60 years.
  3. You should have a minimum of two years of employment with your present organization for salary purposes
  4. Your monthly income should be minimum of Rs.15,000
  5. If you are self-employed, you should have minimum of two to three years in the profession/business you have now
  6. You should have a credit score of at least 750

Documentation needed for personal loan

The following are the most common documents required for personal loan online approval salaried and self-employed individuals:

Individuals Who Are Salaried

  1. Identity & Age Proof(Passport/Driving License/Voter ID/PAN Card)
  2. Completely filled the application with a photograph
  3. Residence proof - (Passport, Driving license, Postpaid/Landline Bill, Utility Bills- electricity/water/gas, Voter ID)
  4. Aadhar Card
  5. Proof of Income: Bank Statements for the past three months (preferably your salary account)
  6. Last three months' salary slips
  7. Form 16 or the last three years' income tax returns

Individuals Who Are Self-Employed

  1. Identity & Age Proof (Passport/Driving License/Voter ID/PAN Card)
  2. Completely filled the application with a photograph
  3. PAN Card/Aadhar Card
  4. Residence proof - Passport driving license, Voter ID, postpaid/landline bill, utility bills (electricity/water/gas)
  5. Bank statements for the past three months (preferably a salary account)
  6. Last three months' salary slips
  7. Income Tax Returns for the last three years with computations
  8. Balance Sheet and Profit & Loss Statements for the last three years audited by a CA

Calculate Your Emis For Personal Loans

The EMI is the most critical factor when you consider a personal loan. When you decide which loan to take, you should consider whether or not the EMI matches your monthly budget. You can use an EMI calculator to figure this out. The following are the results of using a loan calculator:

  • Monthly Repayments - The amount you will pay per month in EMI
  • Total interest payable - Your total interest owed
  • Payment total - The amount which is a combination of principal and interest

What Is The Benefit Of Having A Good Credit Score?

  • It helps the applicant avail of a loan at lower interest rates.
  • Has better chances for loan approval
  • No more bragging rights.

How To Apply For An Instant Personal Loan Online?

It's instant, seamless, and paperless to avail a loan up to Rs. 15 lakhs. What's more? Get competitive interest rates, flexible loan tenures, and manageable loan repayment options. You can apply for a quick loan online and your information remains highly confidential.

  1. Fill in your personal, financial, and employment details.
  2. Submit the required documents online, proof of identity, and proof of income.
  3. Select loan amount and tenure that you need to get instant online approval.
  4. Receive the loan amount in your bank account within 48 hours.

Why Should You Apply For A Personal Loan At Buddy Loan?

The Buddy loan is the perfect one-stop solution for all of your financial worries. Here,you will be able to get a loan that is hassle-free and quick, and you might also get competitive repayment and rate of interest. Additionally, we compare what different banks can offer you and help you in making your final decision.

The following are some reasons why you should apply for personal loan at Buddy Loan:

  1. Buddy Loan offers 24/7 customer service to all its customers. You can frequently ask questions from our customer service team as they are always available during business hours and will try to respond as quickly as possible.
  2. The process for approval of loans in Buddy Loan is fast and quick and it requires minimal documentation.
  3. The needs of our customers are our top priority. Our services are tailored to fit your needs. To provide you with an individualized experience, we handpick the best offers based on your profile.
  4. You can compare the different offers from various lenders to make the right choice. It is always good to find the best lender based on your eligibility requirements with our assistance.
  5. You can even choose the lender of your choice with the help of a personalised relationship lender from Buddy Loan.
  6. Buddy Loan even helps you to build up your credibility.
  7. The Buddy Loan proactive and user-friendly support team will help you cross the risk of confusion, debt risk, and defaults.
  8. Buddy Loan gives transparency to you and 0 complexity in the loan process.
  9. We offer flexible repayment options with six months to 5 years of loan tenure.
  10. We have a fast and efficient customer service team that is ready to answer all your questions about loan eligibility, procedures, offers, documentation, and repayment options.
  11. From Buddy Loan, you can get a loan amount up to 15 lakhs only on your aadhaar and PAN card

How To Apply For A Personal Loan At Buddy Loan?

In Buddy Loan, you can apply for a loan with the minimal documentation and the loan application process is easy as they involve these simple steps:

Step-1: First, you just need to download the Buddy Loan app from the google play store, you can even visit the website to compare and learn more about the features.

Step- 2: After you download the app fill all your details in the application form then the customer needs to fill the desired loan amount, tenures months and phone number. After that, you will get an option to apply for a loan.

Step- 3: After that, you will get an option to apply for a loan. Then you have to fill out the eligibility form, which includes filling in the following details:

  • Email Address
  • Employment Type
  • Company type
  • Your Industry type
  • Current Company Name
  • Enter Company address
  • Year of employment
  • Monthly in-hand salary
  • Mode of Salary
  • PAN Card details
  • Full Name (As per PAN Card)
  • Current Residence Pin code
  • Mobile Number

Step-4: After that, you will get an option to select from the multiple offer(s). Based on the information you provided above, you will be given a list of potential lenders. Depending on your profile, you may receive one or more offers. You are eligible to choose the lenders from the list.

Be sure to keep these points in mind when choosing a lender:

  • Interest rate offered
  • Loan amount
  • Loan Tenure

Step-5: Now, you can complete the application process. Hence, after submitting your application, our representative will follow up with you to cross-verify the details before sending the application to the lender.

Step- 6: Now you should patiently wait for the loan amount to be disbursed in your bank account.

FAQs (Frequently Asked Questions)

A personal loan is a standard loan that you can avail of from Buddy Loan aggregator. There is no need to pledge any collateral to avail of it. All you must do is apply online, and you will be able to use the loan amount however you like. 

Getting approval for the application process for a personal loan via Buddy Loan is easy. You need to keep all your documents ready as the documents vary from one lender to another. However, the approval of most applications mostly depends on your credit history.

Buddy loan aggregator has the most straightforward application process to apply for. However, the minimum salary required is ₹15,000 for non-metro cities and ₹20,000 for metro cities.

Here are the requirements you need to meet:

  • You must be a citizen of India.
  • Your age must be between 23 and 57 years.
  • You must be employed with an MNC, public agency, a private firm, or self-employed individuals.
  • You must meet the salary requirements as specified based on your city of residence.

You can use the handy personal loan EMI Calculator to determine your monthly installments.

The banks review an application for a loan by considering the following factors:

  1. Age
  2. Monthly Income
  3. Credit Score
  4. Credit History
  5. Document

You can use the handy Personal Loan EMI Calculator to determine your monthly installments.

No, Buddy Loan does not have any prepayment charges for the disbursement of a loan.

Applicants can borrow the loan amount up to 15 lakhs from Buddy Loan without having to pledge any assets. They can repay the loan over a flexible six- to 60-month period.

Buddy Loan aggregator offers a range of attractive benefits, including:

  • Instant approval
  • Minimal documentation
  • Flexible tenure
  • No hidden charges

Complete the application from Buddy Loan App.

To get a personal loan from Buddy Loan, you can contact us at our official website or apply at the Buddy loan app for easy approval and fast disbursal.

There is no such thing as a perfect personal loan, and it is imperative that every borrower chooses a lender that meets their needs. This can be done by comparing the lenders offline or by applying through a platform such as Buddy Loan, which helps you find the lender that meets your needs.

To get one of the best rates of interest on instant personal loans, one must have a good credit profile. An individual must have good credit, a consistent source of income, and be salaried or self-employed to qualify for the best rate of interest.

A personal loan may have an interest rate ranging from 10.75% to 35%, depending on the lender.

Early repayment of a personal loan is possible, which is called prepaying the loan. However, lenders will charge a different amount as a penalty for this.

The best personal loan differs from borrower to borrower's credit profile. A credit profile includes the credit score, monthly income, employer, employment type, etc. All the above factors are considered to find the best loan.

Personal loans are loans that you can use for many different purposes and fulfill your emergency funds needs. In addition to being processed more quickly, these loans require minimal documents. The application process is simple, and your money should arrive within two to five business days.

A credit score of 750 or higher is considered healthy and can significantly boost the chance of being approved for a personal loan. However, every lender has a different eligibility criterion and all rights are reserved upon them for the approval of a loan.

When the economy is in a slump, it can be a good solution. Getting a loan is an ideal way to meet an immediate financial need in various situations, from wedding expenses to home renovations to medical emergencies, since they are easy to get, fast to disburse, and do not require collateral.

Your personal loans heavily influence your credit score. If you miss an EMI, your credit score can be adversely affected. Personal loans are unsecured loans, and thus, they can be a reason for affecting your credit score.