|Institution||Minimum Loan Amount||Maximum Loan Amount||Minimum Tenure||Maximum Tenure||APR||Fees & Charges|
|Finance Buddha||₹50,000||₹5,000,000||12 months||60 months||10.5% - 24%||Processing Fee - 1.50% to 2.00% + Service Taxes|
Finance Buddha offers Instant Personal Loans in 180 Cities across India. Apply for personal loan online and get money in bank account in as soon as 2 Hours. Anyone can avail instant loan online from ₹50,000 to ₹50 Lakhs without any physical paperwork. We have an 100% online loan process with instant loan approval .
In an emergency every second count. And, getting money in a hassle-free manner will be the need of the time. As an applicant, you have to fill the easy online application form and apply online. Finance Buddha Personal Loan is an instant personal loan and offers disbursal within 2 hours. Furthermore, it is one of the fastest personal loans you can get in India.
We have brought together experts in the banking sector. They have top-notch competence in loan management, and time management skills. Hence, we deliver you high-quality services through our online instant loan facility.
As such, Finance Buddha can assist all individuals with their instant personal loan application.
Due to the high demand for online loans, we have extended our services to this stream. This is to make sure we provide more and more opportunity for those who are in need of loans for any personal purpose. Make use of our online loan service and get a personal loan in one day.
In recent years, the banking sector witnessed many changes and Instant Personal Loan is such one among other changes. This loan is the change, which was the need of the time.
Ever since the start of banking, the process to apply for a personal loan has been a lengthy process followed with lots of stress, tension and time consumption too. Because of all these reasons, it was very important to introduce a new kind of lending instrument which would be easier for the people to avail.
Instant Personal Loans are the solution to all the above problems and a new age in the domain of lending.
Loan Type: Personal Loan
Loan Approval Time: Instant
Loan Disbursal Time: 2 Hours
Application Process: 100% Online
Interest Rate: 10.50% to 36.00%
Loan Tenure: 12 months to 60 months
Age: 23 years to 58 years (at the time of loan maturity)
Minimum Loan Amount: ₹50,000
Maximum Loan Amount: ₹5,000,000
Processing Fee: 1.50% to 2.00% + GST as applicable
Lock-in Period: 6 months
Prepayment / Pre-closure Charges: Up to 5% per annum of the principal outstanding plus service tax
Physical Documents Required: None
Availability: 180 Cities
Personal loans are popular among the borrowers as they are one of the simplest ways to secure the needed fund. There are a number of features which make them choice-worthy.
The online application feature enables you to apply on the go. You can apply while being in office, relaxing on your sofa, while in travel or from outstations too. The flexibility makes instant loans popular among busy professionals.
It takes no time for our system to determine the eligibility of the applicant. Hence you get approval in an instant.
The Instant loan takes just 2 hours to get disbursed. If all the data you have provided to us is correct, it takes just 2 hours to get the loan amount in your bank account.
The fast disbursal makes it the best tool to fight financial emergencies.
One just needs to submit the basic documents like address proof, ID proof, and income proof to get the loan sanction. Moreover, you can share the soft copies of the needful documents which makes the loan processing much faster and smoother.
Here are some of the benefits of personal loans from Finance Buddha.
Not everybody's need is the same. It varies from individual to individual, depending on the situation they are facing. Hence, we offer a wide range of loan amount. The loan starts from ₹50,000 and goes up to 5,000,000 to have you covered in the times of need.
An emergency situation can arise anytime. And, the only solution out might be an instant personal loan. But that does not mean that you have to carry the burden of a one-time need for a long period of time. The tenure for personal loans is 5 years so that you do not remain overburdened with the loan for a long period of time.
Desperate times need desperate measures. Emergencies may not leave enough time to arrange all the paperwork required for a personal loan.
Hence we created a completely online process. Here, you can upload all the documents required from your computer, mobile or tablet. Hence, saving you a lot of time to focus on other important things.
Finance Buddha Personal Loan offers instant approval and disbursal within 2 hours. Within seconds you will get to know the status of your loan.
As the process is online, we will have all the required information with the loan application. Then our proprietary algorithm runs in the background to decide your eligibility. The amount gets credited to the applicant's account after final approval.
The loan amount will get disbursed after you accept the offer letter and sign the loan agreement.
Our instant loan interest rate is the same as that of conventional personal loans. As such, instant loans are personal loans sans paperwork.
As soon as all the information provided by you is verified and all the steps required have been completed, you will receive the loan amount instantly in your account.
Our personal loans offer a completely online, quick and hassle-free process. We strive to complete the process in under 2 hours. As such you get a personal loan the same day you apply for it.
This makes the instant loans the preferred option for emergency scenarios where there is an urgent need of money.
You can avail Instant Loan in any of the 180 cities in India, such as: Agra, Ahmedabad, Amritsar, Aurangabad, Bangalore, Baroda, Bhubaneswar, Bhopal, Chandigarh, Chennai, Cochin, Coimbatore, Dehradun, New Delhi, Faridabad, Ghaziabad, Gurgaon, Hyderabad, Indore, Jaipur, Jamshedpur, Kanpur, Karnal, Kolhapur, Kolkata, Lucknow, Ludhiana, Madurai, Mumbai, Mohali, Nasik, Nellore, Noida, Pondicherry, Pune, Rohtak, Salem, Satara, Surat, Thane, Tiruchirappalli (Trichy), Vijayawada and Visakhapatnam (Vizag).
Whatever be your need, we are here to help!
Few incidents in life leave you with not many options. In a situation like where all your advance preparations might also not be enough. If you are in such a need, Finance Buddha's Instant Loan will help you overcome in a quick, efficient and hassle-free manner.
Our instant personal loans can be availed for different emergency situations. The money borrowed is available immediately. We do not require any physical documentation for processing this loan. As all need required documents have to be uploaded online.
Life is Unpredictable! Nobody ever knows what might happen the next instant, so unsure are we about our lives. Accidents can happen to anyone anytime.
Such situations require quick response and immediate treatment and every second count! And you would not want to spare any expenses whether for yourself or your near and dear ones.
Nowadays even medical expenses are also soaring high, so much so that sometimes even medical insurance and emergency savings combined cannot cover the total expenses. An instant loan in one day is definitely your saviour in such times which minimizes the effects.
Finance Buddha understands the urgent need, which arises in medical emergencies. Finance Buddha and its team do its best when such a requirement arises. This is a completely online loan process hence you do not need to visit any of our branches or arrange for the hard copy of the documents. You just need to fill in the application form online and upload all the required documents. And that is it.
In the cases of emergency, Finance Buddha will always be by your side.
You can now avail Finance Buddha's Instant Loan to meet your urgent travel expenses.
Whether it is to a destination in India or abroad, whether it is for a personal reason or a business deal, or any medical requirement, Finance Buddha has got you covered. Just apply online. And, then upload your required documents.
We work hard to ensure that you get instant loan approval and the disbursal happens on the same day, within 2 hours of approval (provided that you are eligible).
The wedding is one of the most important events, if not the most important event in anybody's life. As such everybody wants their wedding to be a dream wedding. But the conversion of the dream to reality comes at a price.
Sometimes unexpected may happen and leave you in a cash crunch, unable to meet the need of the hour. In many instances, it might not be possible to cut down the expenses.
Wedding expenses do not include just the cost of the main wedding function, but also things like pieces of jewellery, clothes, gifts, engagement, reception, and honeymoon. The price for all these is normally much more than what a middle-class income group can afford to spend.
Use our same day loans facility, whenever you need immediate cash loans in India from Finance Buddha. This is an entirely online loan process.
Online loans make sense for weddings as these are very convenient to apply for, especially for weddings, when you are in a shortage of time.
You are innocent until proven guilty and sometimes, you might not be guilty at all. And sometimes, it might not be you but someone who is very near and dear to you.
But, the police need to follow rules set by our lawmakers, and the bail amounts can be high (depending on the charges) and might not be possible for everyone to have that much money available to them at their disposal. But you can have it in 2 hours with Finance Buddha's Instant Loans.
We understand that emergencies like an arrest can affect you and your family severely. Hence we have made instant loan process 100% online wherein you can apply online anytime from anywhere. As soon as we have everything we need, your loan processing starts and based on your eligibility criteria your application is approved and disbursed within 2 hours.
It never remains sunny throughout the year! All the business owners know and understand this very well. Urgent situations demand speedy solutions. Finance Buddha is here with its Instant Loan to cover you in that rainy season.
Instant Loans are a completely online product where you get instant approval and disbursal within next 2 hours, should you satisfy all the eligibility criteria for the same. Thus, the process is quick and hassle-free.
Fulltime with at least 2 years of experience
At least 5 years of earning turnover
Eligibility basically means ‘Fit to be chosen'. That implies are you worthy for which you are applying.
Finance Buddha's personal loan is an unsecured loan. Hence it becomes more important to check the eligibility of the borrower before the loan disbursal to determine the repayment capability. This is a big point to consider.
There are many factors on which your personal loan eligibility will depend.
The younger you are more is your probability of getting a loan.
When you are young you are more capable of repaying the loan. To avail personal loan the applicant's age should be between 25 to 65 years.
Your income is the most important factor on which your eligibility depends. The more you earn, the more is the possibility of timely repayments.
In the case of our personal loan, if you are a salaried employee your yearly minimum income should be ₹400,000. And, if you are a self-employed professional your minimum income should be ₹600,000.
Employment stability is also an important factor on which your eligibility depends.
A salaried person should have at least 2 years of full-time work experience in the current profession. And the self-employed individuals should have at least 5 years of earning turnover.
Your credit rating holds a lot of value. It reflects your financial borrowing history and your repayments history too.
If your credit score is high your probability of getting a loan is more. Generally, a credit score of 750 is considered good. With a CIBIL score of less than 750 the chance to get approved is less. And in some case, you may get the loan but then your interest rate will be higher.
The employer with whom the borrower is working with is the most ideal approach to gauge the credit-worthiness of the candidate. Being a piece of high turnover organizations is an advantage with regards to applying for the loan.
Finance Buddha Personal Loan is an instant loan without documents. This means that no physical documents are required at all. And instead, digital versions of all the required documents are to be uploaded through the mobile app.
Along with meeting the eligibility criteria, you will still require to submit some documents so that we can confirm your identity along with other criteria. This is compulsory, and the below documents should be furnished upon request.
PAN Card, Passport, Driving License, Aadhaar Card, Voter ID, Govt. issued ID-card
PAN Card, Passport, Driving License, Aadhaar Card, Voter ID, Govt. issued ID-card
Certificate and Proof of Business Existence
PAN, Sales Tax / Excise / VAT / Service Tax Registration, Copy of Partnership Deed, Trade License, Certificate of Practice, Registration Certificate issued by RBI, SEBI
Passport, Driving License, Voter ID Card, Electricity / Telephone / Mobile Postpaid Bill
Bank Statement, Utility Bill, Registry Copy, Lease or Rent Agreement, TAN Allotment Letter
Bank statement (not more than 3 months old)
Bank statement (not more than 3 months old)
Paperless Personal Loans can help you get a loan within a very short duration of time, without having to deal with any paperwork as the process is 100% online from start to finish.
With such loans, you don't have to spend hours visiting us and filling up the form. This loan makes you free from the traditional lending process where you have to spend your time in collecting and piling up the documents required.
A paperless loan is a completely online process, where your personal loan is just a click away. You don't have to submit any document physically. All you need to do is to just fill the details required. Only a few documents such as ID and address proof are required which is to be submitted online by scanning and uploading them online.
The ease and flexibility in the application method have made them a popular debt instrument among the masses.
Paperless loans provide flexibility and comfort in the borrowing process. People who are already occupied with one or the other thing can now apply for loans as per their comfort.
Paperless loans are unsecured loans where no collateral or security is required. Also, the loan amount can be used for any personal purpose as per the need and wish of the borrower. It's fast processing and quick disbursal is another reason for which makes it a go-to product when the money is required immediately.
The tenure of an instant loan is up to 5 years.
The interest rate is a profit a lender charges against their lending annually. Normally if the borrower is at low risk i.e. the lender finds it that they can easily repay the loan, then the interest rate is low. And if the lender finds that the borrower it at high risk then they charge a high-interest rate to them.
There are many factors which decide the interest rate of personal loans.
Suppose a person has a yearly income of ₹400,000 & applies for a loan of ₹600,000 and a tenure of 2 years. Then for the lender, it is a risky case as in this case there is more possibility of default. To be on the safe side the lender will charge more interest rate. So for the interest rate, the loan amount and individual income play a very important role.
The tenure period is also one of the important factors which play an important role in determining the interest rate. If the tenure is shorter, higher will be the interest rate and vice-versa.
Each and every lender or financial institution checks your credit score when you apply for a loan. The credit score always reflects your present as well as past financial borrowing history and your repayments as well. A low credit score means that monthly repayments regarding any of the previous loans were not on time. Whereas, a good credit score of 750+ indicates that the borrower is good and has been timely with the repayments.
The other fees charged for a personal loan are:-
Every borrower has to pay the processing fees. Processing fees are a charge that passes on expenses to the borrowers. The expenses include documentation, evaluations, work, and record of loan repayment, or some other data essential for the lender's endorsing office. This is a non-refundable. The processing charge for Finance Buddha Personal Loan is 1.50% to 2.00% of the loan amount in addition to service taxes.
Finance Buddha also provides part payment and part prepayment options. But terms and conditions apply. This charge depends on many factors such as the principal loan amount, the outstanding amount, monthly EMIs and so on.
There is always a penalty charge for the delay in payments. There are penalty charges for delay in payment this depends on the outstanding loan amount with us. This late payment doesn't lead to penalty only but it leads to a bad credit score as well. This can affect you in the future when you will apply for some other loan. To avoid these charges and difficulties you should also pay EMIs regarding any kind of loan on time.
Tenure is also considered for personal loan's interest rates.
Let us understand this with an Example: You take a personal loan of ₹300,000, for a tenure of 3 years, offered at an interest rate of 10.5% on a reducing principal and you are charged a processing fee of 2.5% which you can give directly at the time of loan processing or that it will be deducted from your loan amount when sanctioned.
EMI of the loan will cost you ₹9,751 per month
Total payable amount in 3 years (Principal + Interest) = 36 * ₹9,751 = ₹351,036
Total Interest paid in 3 years = ₹51,036, hence, annual interest paid = ₹17,012.
While there are many ways to apply, many still prefer to apply for a personal loan online through Finance Buddha, the reason for this is pretty simple and straight forward.
In case of emergencies situations, nobody will have time to run to banks and financial institutions to get the application form, apply online, submit documents and get instant approval. All the services will be taken over by Finance Buddha.
Just visit Finance Buddha platform, apply for the personal loan by filling all necessary information and get instant loan approval and disbursal within the same day.
The advantages of Finance Buddha's Insta Loan can be summed up as below.
One does not need to provide any physical documents when applying online. Just upload the scanned or digital copies of all the required documents and upload them through the mobile app.
Applying for a loan online makes the process much faster. Online loan applications are processed through algorithms. Hence, it takes much less time as compared to manual processing.
Applying is very easy as you never need to visit the lender's office. You can apply for a loan while being in your office or relaxing at home.
An online loan gives the convenience of tracking the application. As soon as you apply for a loan, the lender will provide you with a login ID. You can log into your loan account and check the progress of the application at any time.
We provide you a 24X7 service. Unlike a traditional loan application where you must abide by the timings of the bank's functioning hours, an online loan can be applied any time and any day, even on bank holidays.
Finance Buddha's Personal Loans are essentially 100% online loans, where all the steps involved are done online both on the applicant's side and the lender's side. The applicant has to just apply online, upload the documents as well as the sign the loan agreement.
The application is processed as soon as it is received.
Finance Buddha's proprietary algorithm works in the background to determine the eligibility of the applicant and find the best offer available if eligible, post which the application gets approved.
The removal of the human element from the approval process significantly improves the time involved, reducing it to a maximum of 2 hours. We use our proprietary algorithm to scrutinize all the received documents to verify their authenticity. As soon as the processing is over, the applicant receives the confirmation and the disbursal of loan amount soon after.
Taking the loan process completely online has not only reduced the time but has made the application process more streamlined, easy and completely hassle-free. There is no need for any physical visits or documents as the process is completely online throughout. As a result of the availability of online loans to more and more people. Finance Buddha's online loans provide the comfort and freedom to apply from a place of their comfort at a time of their choice.
The availability of loans (to eligible applicants) within 2 hours of applying make instant loans ideal for those who are in urgent need of money. This loan is also ideal for those who don't have time and means to go through a conventional loan process. Hence, don't wait and apply for a loan online today.
If you want to avail a personal loan, visit the Finance Buddha website. Fill the application form above online and submit. After the form's submission, the applicant's details will get scrutinized using our algorithm. Hence, saving both the time and effort. Soon after verification, we will let you know if you are eligible for an instant personal loan. And finally, your online loan application will get processed and disbursed within 2 hours, same day. This makes our Insta Loan the best online loan for those who want an urgent personal loan.
The 5 simple steps to apply for personal loan online are:
A quick loan is nothing but a personal loan which is processed entirely online and disbursed on the same day. The processing is done with pre-set computer programs which make the loan processing faster than one can imagine.
Such loans are very popular among young professionals because of the quick processing and instant approval. Despite being costlier than a secured loan, quick loans are ruling the credit market just because of the appreciable services provided by FinTech lenders. The lenders have made the loan processing so very simple that, any needy who is eligible for a loan can get the desired amount in his bank account instantly.
The pulling force because of which the lenders can make the processing fast is the internet. Lenders nowadays do the entire loan processing online which saves a lot of time and effort of both the lender and the borrower. If you are eligible for the loan and have submitted the documents properly, it takes just a few minutes to get an e-approval on your loan.
At present in India, there are many quick loan providers. Quick loan lenders include national banks, private banks, and NBFCs. But, Finance Buddha stands out from the crowd for quick loans because of its fast processing, dedicated customer support team and instant approval.
Personal Loans, even though handy in times of need, are still a loan, the burden of which you would need to bear throughout the tenor of the loan.
The applicant should have a CIBIL score of more than 750. CIBIL Score denotes a person's credit usage and repayment history. The better a person has utilized their loan and credit card facilities, i.e. have not remained overburdened with multiple loans, did not have a history of revolving credit and a record of timely repayments without defaulting on any payments will have a high CIBIL Score, in comparison to a person who has failed to achieve this. A good CIBIL Score (750+) denotes that an applicant is credit-worthy and if allotted the loan, will be timely with the repayments.
Hence before you apply for applying for a personal loan, it would be a good idea to be aware of your CIBIL Score. There are chances based on the discretion of the lender that even an applicant with low CIBIL Score can also get loans online, but they would get it at the higher interest rates.
Even though the interest rate offered will depend on multiple criteria, it has a direct impact on the EMIs. The higher the interest rate, the higher would be monthly installments. High monthly installments can leave you short of the money required every month for the necessities, hence disrupting your budget. If you feel that the offered interest rate and the EMI is higher than that you can afford, it will be better to look for an alternate option.
Hence be sure of the interest rate and the EMI before you sign the loan agreement so that your budget does not get affected negatively.
Finance Buddha's Instant Loan is offered at an interest rate higher than conventional bank loans. Hence the reason for availing the loan should be justified. If it is an urgent need, and immediate cash is required, then it makes complete sense to avail an Instant Loan. But, opting for an Instant Loan for shopping, a costly gadget or vacation abroad makes no sense.
Online loans are very helpful in times of need but can be a big burden if availed for unjustified reasons.
All loans include a processing fee which gets deducted from the total loan amount before disbursal hence lowering the amount you actually receive. Apart from processing fees, there are charges of late payments and prepayments.
Hence it will be wiser to know these in advance rather than discovering them after the loan has been disbursed.
Here are a few tips to make your Instant Loan application hassle free and increase your chances of getting approved the first time itself.
All financial transactions like online loans have a few terms and conditions to which the consumer is obligated should they choose to avail them. These terms and conditions are there to ensure the full repayment of the loan amount and charges that apply to different situations and requirements.
In general, the before the e-signing of the loan agreement, the customer is made aware of the rules, terms, conditions, and charges, but still, it is the responsibility of the borrower to be aware of every detail before they choose to sign the agreement. This saves them from future shocks and surprises and also makes them aware of their responsibility as a borrower.
Finance Buddha provides everyone to choose an instant personal loan amount between ₹50,000 and ₹5,000,000. But this does not imply that everyone should be choosing the maximum loan amount option available.
The choice of instant personal loan amount should be based on first and foremost your exact requirement. Secondly, on your repayment capability and finally your eligibility. Being greedy might result in, excess loan burden than the requirement, a disturbed budget and loan rejection (which has a negative impact on your CIBIL Score).
You should always make use of a Personal Loan Eligibility Calculator and Personal Loan EMI Calculator to know in advance, the maximum loan amount you are eligible for and should that loan amount get approved, what will be your EMIs and the charges involved. This will make clear in advance what would be the EMI that you would be paying every month thereon and will help in planning the budget accordingly.
Keeping your documents ready even before starting the online personal loan application will save you the last minute hassle of arranging documents while applying.
Documents like photographs, bank statement, and address and identification proof can all be saved as PDFs and images on devices like computers, smartphones, and tablets. Having these ready in advance, you can upload them when prompted. This will ensure a break free process of the online personal loan application.
Providing the correct and authentic information as requested for the loan will ensure that you will get the best offer available for you and will also decrease the chances of your application getting rejected.
Finance Buddha goes to multiple extents to verify and cross verify each piece of information provided by each applicant before approving or disapproving the loan application. Your loan application will get rejected even if single fake or misleading information is provided.
Hence it is in the best interest of both the applicant and us, that the applicant provides online correct, genuine and authentic information.
# Tip No. 1: Check Your Credit Report
The credit report is the first checklist of the lender prior to sanctioning any kind of loan. The credit information companies keep a track of all the credit-related behaviour of any person and based on the same a credit report has been prepared. So, check the credit report before reaching the lender and if there are any flaws make sure that you correct them before reaching the lender.
# Tip No. 2: Find your Credit Score
Along with the credit history, the credit score is also an important criterion to be checked. Your credit score will be considered as excellent if it is more than 750. If the credit score is less than 750, your loan application may get rejected. So before applying for a loan, it is highly recommended to check the credit score.
# Tip No. 3: Avoid Making Multiple Personal Loan Applications
Multiple loan application can create a negative impression of yours. When you apply for a loan with multiple lenders without much gap, it shows your credit hungry behaviour which is a negative remark for the borrower. So keep yourself away from such activities to get instant approval on your loan application.
# Tip No. 4: Your FOIR Should Not Be More Than 50%
The FOIR (Fixed-Obligation-to-Income ratio) is used to find the repayment capacity of the lender. If the total payable of a person including the applied loan is more than 50% of his net monthly income, the lender assumes that the person may default the loan in coming days. So, try to keep your FOIR low before you apply for the loan.
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Try Applying for a higher Loan Amount as most bank reduce interest rates as loan amount increases
Try Adding the income of a co-applicant like a working spouse
Financebuddha can help you consolidate all your loans into one to increase your eligibility