Buddy Loan

Buddy Loan Review: Instant Loan Approval App

In this article, we will discuss how Buddy Loan is helpful for applicants requiring instant loan approval. Personal loans are a great tool that lets you access finances for various reasons, from planning your big day to dealing with unanticipated cash shortages. An unsecured loan, such as a personal loan, can be obtained without any security or guarantor. For various reasons, you can seek specialized loans, and we offer them all. You can borrow up to Rs. 15 lakh with an instant personal loan and get speedy approval to improve your financial situation.

What is Buddy Loan?

Buddy Loan is your one-stop solution for finding and applying for your dream job, exploring a wide range of deals and offers from brands across all industries, and earning and redeeming reward points for exciting products. It was founded by Satish Saraf in Bangalore, Karnataka, on 1 September 2006. Buddy Loan App is not just an instant personal loan app where you can apply for an online personal loan in the easiest way possible.

With this loan app, you can get a loan for the following:

  • Business Loan
  • Travel Loan
  • Marriage Loan
  • Car Loan
  • Two-Wheeler Loan
  • Medical Loan
  • Education Loan
  • Home Loan
  • Gold Loan

Buddy Loan Details

Company NameBuddy Loan
Also Known AsBuddy Loan, Buddy Loans, Buddy Loan App
HeadquartersBangalore, Karnataka, India
Number of Employees51 to 100
IPO StatusPrivate
CB Rank171,584
Industry TypeFintech
Funded On1 September 2006
Founded bySatish Saraf
Company TypeProfit

Contact Buddy Loan Customer Care Details

  • Buddy Loan customer care number in India: 0800 802 1061 and 0161 850 4141
  • Chat Support: support@buddyloans.com and customerservices@buddyloans.com

What is Buddy Loan Interest Rate?

Buddy Loan is the most reputable online lender to use if you need a rapid personal loan. Both salaried professionals and business owners can apply for our loans, which have reduced interest rates starting at 11.99% and no prepayment or additional fees.

You can repay the amount at your convenience over a flexible tenure of 6 months to 5 years. Trust the best personal loans to fill your financial gaps since they are quick, flexible, and affordable.

The largest loan aggregator in India, It has the funding you need!

  • The personal buddy loan has the highest loan approval rate at 80%.
  • Loans are instantly approved and hassle-free. Within 48 hours of filing your loan request, it is authorized.
  • You are free to choose a loan amount between Rs. 1000 and Rs. 15 lakh.
  • The loaned amount may be repaid over a period of six months to five years.
  • The annual percentage rate for buddy loans is as low as 11.99%.
  • The processing charge for a Buddy Loan is 2% of the loan amount approved plus GST.
  • Before the credit line may be used, you must pay a setup charge of Rs. 499 + GST = Rs. 588.

Buddy Loan Eligibility

It has simple eligibility requirements for rapid loan approval and uses minimal paperless documents to obtain loans online during difficult times.

  • Both salaried employees and self-employed persons may apply for the loan.
  • The candidate must be a citizen of India.
  • The applicant must be between the ages of 18 and 60.
  • To qualify as salaried candidates, applicants must have worked for their current employer for at least two years.
  • Self-employed applicants should have two to three years of experience in their current line of work.
  • The applicant’s net monthly income must be at least Rs. 15,000 per month.
  • To apply for a Buddy Loan credit score of the applicant should be 750 or higher.

What are the documents required for Buddy Loan?

For salaried employees

  • Completely filled out, officially signed application form with a current photo.
  • Driving license, passport, PAN card, voter ID card as evidence of identity and age
  • A driving license, passport, postpaid bill, landline bill, utility bill (electricity, water, or gas), and voter ID card are all acceptable forms of identification to prove residency.
  • Card Aadhar
  • Income documentation can be provided by Form 16/Income Tax Returns from the previous three months, bank statements from the previous three months (ideally from a salary account), and recent pay stubs.

For self-employed

  • Completely filled out, officially signed application form with a current photo.
  • Driving license, passport, PAN card, voter ID card as evidence of identity and age
  • A driving license, passport, postpaid bill, landline bill, utility bill (electricity, water, or gas), and voter ID card are all acceptable forms of identification to prove residency.
  • Aadhar Card/PAN Card
  • Income documentation includes salary slips from the previous three months, bank statements from the previous three months, income tax returns from the previous three months showing the amount of income reported, and balance sheets and profit and loss statements from the previous three years (audited by a CA).

How to apply for Buddy Loan?

To apply for a personal loan using the Buddy Loan app, adhere to the steps listed below.

  • Visit the Google Play Store and download the Budd Loan app.
  • Choose to log in to buddy loans after downloading the app.
  • Complete the application form with all of your information.
  • Type in the loan amount and term that you want.
  • Type your phone number in.
  • You’ll have the option to apply for a loan.
  • Fill in the following details:
    • 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
  • You will have the option to choose from a number of offers based on your eligibility.
  • Send the information in to finish the application process.
  • Before sending your application to the lender, a representative from the company will get in touch with you to validate the information you provided.

Await the approval and the direct transfer of the funds to your bank account. Through the app, you can also look up the status of your Buddy loan application.

Advantages of Buddy Loan

  • It has a simple online application, approval, and disbursal process. Online EMI repayment for the loan is possible, and the entire procedure is paperless.
  • It is 100 percent secure. Your information is kept private. Furthermore, there are no additional fees. It is trustworthy, quick, and safe.
  • The loan buddy app levies no fees for prepaying the loan.
  • Buddy offers personal loans based on the applicant’s credit history and requires little to no collateral.
  • It provides 24X7 customer support. You may contact Buddy Loan customer care anytime with questions about their services.
  • If you return the loan on time and regularly, it will help you establish a solid credit history and score.

FAQ

What is Buddy Loan customer care number?

Call 0800 802 1061 or 0161 850 4141 to reach Buddy Loan customer care if you have any questions or concerns about the services.

Is the Buddy loan app RBI approved?

It is a personal loan aggregator platform that has teamed up with several RBI-registered NBFC lending partners.

Is the Buddy loan app safe?

Yes! It is 100 percent secure. Your information is kept private. Furthermore, there are no additional fees. Therefore, is trustworthy, quick, and safe.

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