Having a good credit score and meeting all the loan eligibility criteria can help you to avail a personal loan quickly with lower interest rates.
Are you in sudden need of funds? A best personal loan is the best way to fulfill all your financial goals. It can be used to accomplish wedding expenses, medical treatments, travel expenses, home renovation, educational expenses, and many more. Having a good credit score and meeting all the loan eligibility criteria can help you to avail a personal loan quickly with lower interest rates. It’s always recommended to check and do proper research before you apply for a loan. Check out the below FAQs that will help you with all your queries and doubts regarding loans.
What is a Personal Loan?
A personal loan is an unsecured loan provided by banks, non-banking financing companies, or lending platforms without any collateral or guarantor. Generally, it is used for debt consolidation, meeting medical emergencies, home renovation, business needs, buying certain assets, and many more.
How to Check the Eligibility Criteria for Getting a Loan?
Most lenders update the personal loan eligibility criteria on their respective websites. Go through the information and know whether you can avail a loan or not.
What is the Maximum Loan Amount that Can be Borrowed?
The maximum loan amount that you can acquire depends on whether you are a salaried person or self-employed. And depending on the lender and your monthly income, the amount may vary. Well, a instant personal loan through Buddy Loan is always easy, instant, and hassle-free. On this platform, you can apply for a loan amount of up to Rs 15 lakh or more depending on the needs.
What are the Documents Required to Apply for a Loan?
These are the general documents that you need to submit. But check with the lenders if you need to provide any other document.
What is the Repayment Tenure for Personal Loan?
The tenure can be between 1-5 years. Before you apply for a loan, check the details with your lender.
What are the Things You Need to Look for Before Applying for a Loan?
Before applying for a personal loan, you need to look at all the below key elements and compare them to choose the best.
Why It is Necessary to Have a Good Credit Score?
Your credit score determines your creditworthiness. Be sure the score is good enough to avail the best personal loan at lower interest rates. If you are planning for a personal loan, maintain it from now onwards.
Conclusion!!
It is vital to do your research before you apply for the best personal loan. There are lots of factors to look for and based on your convenience, make the decision accordingly. Talk to an expert, compare the interest rates, tenure period, processing fee, loan amount, everything to choose the best lender.
Loan on Aadhaar card – Buddy Loan for All!
Buddy Loan, one of the reputed aggregators in the industry, features private & public sector banks for loan aggregation. Aadhaar card, a document held as proof for loan disbursal validates your accountability, nationality & instant online verification.
The trusted financial expert: Buddy Loan
Buddy Loan now requires minimal documents. The loan approval process has cautiously decreased over the last 5 years. With the online verification process, personal loan sanction is complete.
Aadhaar card loan: Apply for a personal loan with Buddy Loan!
Buddy Loan encumbers both private & public sector banks for loan dispenses. Since the introduction of Aadhaar card, the KYC process is fast and easy. It holds the biometrics of the borrower & his authentic details, there are fewer documents required for availing a loan.
