Buddyloan Review – Buddy Loan App is a instant loan provider. This app will provide loans for different kinds of persons. It will provide Loans for self employed, job holders and unemployed people based on the their Credir score. In this article we are going to konw the complate review of the buddyloan app.
Features of Buddy Loan
Highest loan approval rate
It have more than 80% of the loan approvel rates. It is the one of the main factore we have to consider when we are applying for a loan
Loan Amount
In this app you can select how much amount of loan you want based on your need. You can select a minimum loan of 5000 to 100000 in this app. It is a good amount of money when when you are checking for a instant loan.
Flexible Repayment tenure
In the time of applying loan in the app, you can select the tenure of the loan as you want. They will provide different repayment options. Different tenure terms from 5 months to 5 years as will be your choice to repay the money you have taken.
Low Intrest rates
This is the middle man for you and NBFCs. So there will be different percentage of intrest rates when you are getting loan. The intrest rates will be from the 12% to 24% . It is the best intrest rates present. that intrest rates is per anum.
Type of loans in Buddyloan
Buddy Loan Offers different type of loans. Here are the some the type of loans
- Personal Loan to Finance a Wedding
- Personal Loan to Get a Home Improvement
- Personal Loan to Finance Your Travel/Vacation
- Overdraft Personal Loan
- Top-Up Personal Loan or Level Up Loan
Buddyloan Application Process
You can apply for the buddy loan in webapp or mobile app. I will recommend to use the mobile app, you can download it from play store or app store. After downloading the app from the playstore follow the steps to apply for the loan.
After downloading the app you will need to enter the mobile nuber, enter otp. Then you will be logged in to the buddyloan app
You can select the amount of the loan you want. After Selecting the amount of loan we have to enter out details.
You have to enter some details to follow feather. These are the details you have to enter.
- Email ID
- Employment type
- Company type
- Industry type
- Current company’s name
- Company address
- Year of employment
- Monthly in-hand salary
- Mode of salary
- PAN card details
- Full name as per your PAN card
- PIN Code of current residence
- Mobile number
After entering all the details you have to select from whic NBFC you want to take loan. It will show the options based on your eligibility.
Now wait for the approvel process. The approval process in buddyloan app is very fast you will get a message that your eligible or not for the loan. You can also check the loan status in the App.
Interest Rates and Fees in Buddy Loan
| Personal Loan | 11.99% p.a. onwards |
|---|---|
| Loan Amount | Starting from ₹10,000 to ₹15 lakhs |
| Tenure | Flexible loan tenures starting from 6 months to 5 years |
| Processing Fees | 0.5% to 4% of the loan amount (may vary across lenders) |
| Documentation | E – Documentation (PAN, Aadhaar, Income Proof) |
Who can apply for loan In buddyloan?
Both employees and self employee can apply for the loan in the buddy loan. Here is the documents you need to provide for them whey applying for the loan.
For Employees
You have to give sign and a recent photo.
Providing your identity and age proof.
Providing your proof of residence. (you can give any recent bills you have paid or your voter id card)
Need to submit the Income proof (Bank statement of the last 6monts to 1 year )
For self Employed
For the people who are self employed they also need to submit the same documents that employed people are submitting
Buddyloan Review
As my experiance it is a one of the best loan provider app. You can trust this app and take loand from this app. This app is a middle man for you and the NBFC’s. Buddy Loan Will not give you loan directly.
Buddyloan Review and rating in Playstore
Buddyloan review in the playstore is verygood. It has 4.4 rating and morethan 32.5 lakh’s people rated this loan app. You can trust the buddyloan it is a legit app.
FAQ’s
What is the approval time in Buddy Loan?
You will know the approvel rejected or approved within the 1 days after applying in the buddyloan
Is Buddy Loan approved by the RBI?
Absolutely! Buddy Loan teams up with a bunch of NBFC lending mates given the nod by the RBI.
Worried if Buddy Loans are safe?
No worries at all! Buddy Loan’s spot is like Fort Knox. Your details stay put—no funny business, no hidden fees. It’s safe, quick, and dead reliable.
Wondering about the interest rate on a Buddy Loan?
Hold onto your hat! The interest rate for a Buddy Loan personal jaunt starts at a tidy 11.99% per year. Smooth sailing from here on out!