Stop worrying about instant personal loans and go with Buddy Loan. Buddy loan is always with you if you have a financial crisis and need urgent cash. Match loan eligibility and get up to Rs. 15 lakh loan that is 100% online.
The loan repayment period ranges from 1 to 5 years with 11.99% to 36% APR. Loans are available for both salaried employees and business owners.
Buddy Loan Quick Recap
| Loan Amount Available | Rs. 10,000 to Rs.15 lakh |
| Duration | 12 months to 60 months |
| Interest rate | 11.99%- 36% APR |
| Per Month Income | Rs. 15,000 Required |
| Age | 18 to 60 years |
| Eligible Person | Salaried / Self Employed |
Features & Benefits of Buddy Loan
Maximum Loan Amount: Buddy Loan offers a maximum loan of up to Rs. 15 lakh without security or mortgage. Get your loan as much as possible for personal expenses.
Lower APR: Buddy Loan tries to keep a lower interest rate. The yearly APR may be 11.99% to 36%.
Tenure is high: Borrower may extend the loan tenure from 12 to 60 months.
Approval Rate Higher: Buddy’s personal loan approval rate is much higher which is 80% to 85%. So, your loan application may get approval.
No Burden: Self-employed persons or salaried persons apply for Buddy loans. Make sure that your monthly income is more than Rs. 15,000 or more.
Processing Charge: Buddy loan processing fee is 2% of the loan approval amount and a GST charge will be levied.
Buddy Personal Loan Eligibility
- Your residential address must be in India.
- Both Salaried and self-employed are eligible to apply.
- Borrowers Age: 18 to 60 years
- Salaried must be 2 years experience in current position.
- The applicant’s monthly income of Rs. 15,000 or more is required for the loan.
- Borrower’s credit score minimum 750+ need.
Also Read: Instant Personal Loan: Get Emergency Loan to Manage Expenses
Essentials Documents for Buddy Loan Application
You must submit the following documents list for Buddy loan:
Salaried Person
- Identity Proof: PAN card/ Aadhaar card / Passport / Driving License
- Age Proof: Pan Card/ Aadhaar Card
- Residential address proof: Aadhaar Card/ Electricity bill / Landline bill
- 3 months’ Bank Statement where your salary is credited
- Salary slip of recent 3 months
- Form 16 if required
Self-employed Person
- Identity Proof: PAN card/ Aadhaar card / Passport / Driving License
- Age Proof: Pan Card/ Aadhaar Card
- Residential address proof: Aadhaar Card/ Electricity bill / Landline bill
- 2 years Income Tax file with profit & loss and Balance sheet
- Bank Statement of 3 months
Buddy Loan Interest Rate & Charges
| Interest rate | 11.99%- 36% APR |
| Processing Fees | 2% of approval loan amount + GST charge |
| Late Fees | Applicable by Lender |
How to Start the Buddy Loan Apply Process
1. The journey starts with Buddy’s loan application. Download the Buddy app and start the procedure.
2. Log in to the Buddy app with your own phone number.
3. Provide your details for the loan procedure.
4. Give your phone number and email id.
5. Now, fill out your income-related form.
6. Choose your desired loan from multiple loan offers.
7. Wait for loan eligibility checks and other creditworthiness.
8. The loan will be approved within 24 hours.
Buddy Loan Customer Care
You may contact Buddy Loan from the details below about your personal loan-related queries.
Email ID: [email protected]
Phone: 080-47097512
Office Address: No: 1187, 5th main, 21st Cross Rd, Sector 7, HSR Layout, Bengaluru, Karnataka 560102
FAQs on Buddy Loan
Is Buddy Loan safe for users?
Buddy Loan is a safe and secure platform for users. This application is connected with other NBFCs such as Upward, Lendingkart, DRP finance, mPokket, etc.
May I get a Buddy loan without income proof?
Buddy loans provide for self-employed and salaried persons. But with a good credit score and banking, may apply for a loan for the Buddy app.
What is the interest of Buddy Loan?
Buddy’s personal loan interest rate is 11.99% to 36% APR.