A personal loan is a loan that does not require collateral or security and is offered with minimal documentation.
You can use the funds from this loan for any legitimate financial need. Like any other loan, you must repay it according to the agreed terms with the bank. Normally this can include a few months to a few years in easy equated monthly instalments.
Apart from easy accessibility and application, a personal loan gives you complete freedom to use the amount as you wish to. However, whether your needs are planned or unplanned, it’s important to know the amount of time that you must wait for the approval. Get personal loan.
Personal loan approval time can take anywhere between a few days to a few weeks and is dependent on the type of lender you choose and their lending policy. Additionally, how diligent you are with abiding by loan application rules also counts.
What is a Personal Loan Used For?
You are free to use the funds you get from a personal loan any way you wish – fund a holiday, buy a gadget, pay for medical treatment, use on home renovation, spend on a wedding, finance your children’s education, etc.
How Long Does it take to get a Personal Loan Approved?
You can get a personal loan very quickly. With Buddy Loan expect your loan to be approved within 48 hours of submission. Once the loan is approved, the money is transferred to the Guarantors account within hours.
Buddy Loan has the highest loan approval rate for a personal loan in the industry, thanks to the wide pool of loan providers we have in our circle.
What About Interest rates, tenure etc?
Tenure: Opt. for a loan tenure of your preference, ranging from 3 months to 5 years.