Loanbaba Personal Loan

Loanbaba Personal Loan Interest Rates

When considering a personal loan, it is essential to assess the interest rates offered by the lending bank or NBFC. The interest rate for these personal loans at Loanbaba starts from 10.50% p.a., which is lower than the interest on credit card loans.

Primary factors that help you get a personal loan at a lower interest rate in Loanbaba are your income, repayment capacity, credit score, loan amount requirement, preferred tenure, & other relevant aspects. Loanbaba provides competitive interest rates, customised to meet diverse financial needs.

Loanbaba Personal Loan Fees & Charges

Apart from the interest rates, it is essential to know the cost of borrowing when applying for personal loans through Loanbaba. To provide transparency and clarity, here is a table that outlines the processing fees and other associated charges for Loanbaba personal loans.

Loanbaba Personal Loan Eligibility Criteria

Before you apply for a personal loan from Loanbaba, ensure that you meet these eligibility criteria:

• Age: Applicants must be at least 21 years old.
• Income: A minimum net monthly income of ₹25,000 is required.
• Credit Score: A good credit score of 650+ is recommended to qualify for the loan.
• Employment History: A minimum work experience of 1 year is preferred, with the ability to provide income proof.
• Ongoing EMIs: The total ongoing EMIs should not exceed 60% of your income as a general guideline.

Documents Required for Loanbaba Personal Loan

To avail of a personal loan, you have to submit the necessary documents. Here is a list of documents required for a personal loan from Loanbaba:

Documents For Salaried Individual:

• Proof of Identity (Any one): PAN card, Driving License, Passport, Voter ID, Govt issued i-card, Aadhaar Card
• Proof of Income (Any one): Last 6 months' salary slip, last 2 years Form 16, bank account statement of the last 6 months reflecting credited salary.
• Proof of Address (Any one): Driving License, Election ID card, Passport, Telephone/bank statement, Electricity / Mobile bill (latest up to 3 months old).
• Proof of Age (Any one): Birth certificate, School/college leaving certificate, Passport, Driving License, PAN card, Voter id card, Employee ID card (only for PSU/ Government employees).
• Other Documents: Filled and signed application form

Documents For Self-Employed:

• Proof of Identity (Any one):PAN card, Driving License, Passport, Voter ID, Govt issued i-card, Aadhaar Card
• Proof of Income (Any one): Bank account statement of the last 6 months and last 2 years ITR
• Proof of Address (Any one):Utility bill/bank statement latest up to 3 months old, TAN allotment letter, lease or rent agreement, registry copy
• Proof of Age (Any one): Birth certificate, School/college leaving certificate, Passport, Driving License, PAN card, Voter id card, Employee ID card (only for PSU/ Government employees)
• Business Existence Proof (Any one): Certificate of practice, PAN, VAT/ sales tax/ excise/service tax registration, Trade licence, Copy of partnership deed, registration certificate issued by RBI, SEBI.
• Other Documents: Filled and signed application form

Calculate EMI For Loanbaba Personal Loan

Planning to apply for a Personal Loan through Loanbaba? Don't forget to assess your Equated Monthly Instalment (EMI) beforehand to ensure it aligns with your budget. To simplify this process, take advantage of Buddy Loans Personal Loan EMI Calculator.

With just a few inputs, such as the loan amount, interest rate, and loan tenure, you can swiftly calculate your monthly instalment. This user-friendly calculator provides accurate figures, empowering you to determine the exact amount you'll be paying each month.

Loan Amount :

₹

Interest Rate (p.a.):

%

Months to Pay:

Monthly EMI	₹86
Principal Amount	₹1,000
Total Interest	₹32
Total Amount	₹1,032.00

Principal Amount Interest Amount

Year	Month	Principal (A)	Interest (B)	EMI (A+B)	Balance	Loan Paid to Date (%)

Show Details

Compare Loanbaba Personal Loans Over Other NBFCs

Before you apply for a Loanbaba personal loan, it is important to compare the interest rates with other NBFCs to take informed decisions.

NBFCs	Interest Rates (p.a.)
Loanbaba	10.50%
Fullerton India	11.99%
Fibe	12%
Paysense	16.8%
HDB Financial services	Upto 36%
CASHe	27%
Home Credit	24%
Money View	15.96%
RBL Bank	17.50%
KreditBee	15%
Muthoot Finance	14.50%
IIFL	16.50%
mPokket	24%
InCred	21%
L&T Financial Services	11%

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Note: The interest rates mentioned above are subject to change at the lenders' discretion.

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Features & Benefits of Loanbaba Personal Loan

Now experience the exclusive features and benefits of a Loanbaba Personal Loan:

Collateral-Free Loan

You can borrow loan without securing any asset.

Quick Disbursal

Get your Loan disbursed in 48 hours

Multi-purpose Loan

Utilize your personal loan for various needs.

Low Interest Rates

interest rates starting from 10.50% p.a.

Flexible Repayment

Choose your preferred tenure from 1 to 9 Years.

Online Application

You can apply for personal loan online.

Types of Loanbaba Personal Loans

Loanbaba offers multi-purpose personal loans to cater all your financial needs. Here is how you can use your personal loan from Loanbaba:

• Debt Consolidation: You can utilize a personal loan to consolidate your debts, bringing together soft loans, credit card bills, and other existing loans into a single manageable loan.
• Major Purchases: When you're considering big-ticket items like an iPhone, smartphone, laptop, or computer, a personal loan can provide you with the necessary funds to make these purchases.
• Holiday or Travel Financing: If you're planning a well-deserved vacation, a business trip, or any other travel-related expenses, a personal loan for travel can offer you the financial support you need to cover the costs associated with your holiday or travel plans.
• Home Renovation and Repairs: Whenever you need to cover home renovations or repairs, a personal loan can be a valuable resource for managing the expenses involved in improving your living space.
• Wedding Expenses: When organizing events such as weddings or engagements, a personal loan can be a helpful tool for you to cover the various costs associated with these special occasions.
• Medical Emergencies: In the event of unexpected medical or educational emergencies, a personal loan can provide you with the necessary funds to handle the urgent expenses that arise.
• Education Funding: Funding your children’s higher education now gets easy with a personal loan at Loanbaba. Easy and ontime approval for personal loan makes it convenient for claiming your seat at the university of your choice.

How Do You Apply for Loanbaba Loans with Buddy Loan?

Steps To Apply For a Personal Loan with Buddy Loan

• Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
• Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
• Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
• Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
• Step 5: Enter your work details (Including company name, years of service and Designation)
• Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
• Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.

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