Buddy Loan Lite: Personal Loan 35.5.29

The Buddy Loan application serves as a comprehensive platform for securing personal loans ranging from Rs. 5,000 to Rs. 15 lakhs. Through a streamlined digital interface, it connects users with preferred lenders while offering competitive interest rates starting at 11.99% per annum.

For instance, consider a loan of ₹1,00,000 with an interest rate of 13% over a repayment period of one year. The associated processing fee is 2%, amounting to ₹2,000 plus GST, resulting in a total initial cost of ₹2,360. Additional line setup fees may apply. The monthly EMI stands at ₹8,932, with the total interest payable being ₹7,181 and the overall repayment amount after one year totaling ₹1,10,129. It is noteworthy that the maximum Annual Percentage Rate (APR) can ascend to 36%, dictated by lender parameters approved by the Reserve Bank of India.

Key features of the Buddy Loan app include:

• Instant loan approvals up to ₹50 lakhs.
• Attractive interest rates starting from 11.99% per annum.
• A network of over 20 RBI-approved lenders.
• Completely paperless application process.
• High approval rates with prompt disbursement.
• Flexible repayment options spanning from 6 months to 5 years.
• Transparent and straightforward loan procedures.
• Robust data protection measures implemented.

The application ensures user data is transmitted securely via HTTPS with 128-bit SSL encryption to maintain confidentiality and integrity during transactions.

Eligibility Criteria:

• Age: Minimum 21 years and maximum 60 years.
• Residency: Must be an Indian resident.
• Income: A minimum monthly income of ₹15,000 for salaried individuals; self-employed borrowers must meet specific annual turnover thresholds defined by lenders.
• Credit Score: A CIBIL score of 650 or above is required (subject to lender approval).
• Employment: Applicants should either be salaried within recognized sectors or demonstrate a consistent self-employed income stream.
• Business Vintage: A minimum experience of two years for business loans (lender-specific).

The Buddy Loan app facilitates several loan types:

• Personal Loans: Designed for immediate cash requirements or financial obligations such as emergencies, shopping, weddings, or home renovations.
• Salaried/Self-Employed Loans: Simplified loans for professionals offering quick approvals and flexible repayment terms ranging from 6 to 60 months.
• Business Loans: Targeting small and medium enterprises (SMEs), these loans are provided through RBI-approved lenders, allowing access up to ₹50 lakhs to bolster business growth.

The application process is straightforward, involving the following steps:

1. Login to the Buddy Loan app.
2. Input basic personal information.
3. Select the desired loan amount.
4. Connect with RBI-approved lenders.
5. A fast direct deposit into your bank account will follow.

As a personal loan aggregator partnering with RBI-registered NBFCs, Buddy Loan emphasizes responsible lending while facilitating prompt access to financial resources tailored for personal needs. For customer support or further inquiries regarding personal loans, users can reach out through:

Email: [email protected]
Phone: 080-47097512
Address: No: 1187, 5th main, 21st Cross Rd, Sector 7, HSR Layout, Bengaluru, Karnataka 560102.