Instant Personal loan -Apply Online for a Personal Loan in India for Low Interests - Buddyloan

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PERSONAL LOAN

• BUDDY LOAN

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DEFINATION OF PERSONAL LOAN

• Personal loan is a short to medium term unsecured
  loan (no collateral) that you can use to meet
  your financial needs.
• Though most commonly used to meet expenses
  related to debt consolidation, vacations and
  unexpected medical expenses, a personal loan may
  be used for practically any type of expense.

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Features and Benefits of Personal Loan

• No Collateral Required
• Multipurpose Use
• Flexible Tenure
• Simple Documentation Process
• Flexible Quantum of Loan

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When Should I Apply for a Personal Loan?

• At the time of financial or medical emergency
• When you wish for less documentation
• When you wish for less documentation
• To consolidate your debts
• You do not have collateral

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Factors that Affect Personal Loan Approval

• Credit score
• Income
• Employment stability
• Age
• Outstanding debt

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SOME OF THE MAJOR FACTORS ARE

• Credit History Your credit history helps lenders
  analyze your repayment behavior . If you have a
  poor credit history, you will get personal loan
  at higher interest rates.
• Income For lender your income is an assurance
  of repayment. Therefore, the more you earn,
  lesser will be your personal loan interest rate.
• Employer When examining your loan application,
  lenders also consider the reputation of the
  organization you work with. You can enjoy lower
  interest rates on personal loans if you are
  associated with a well-known and stable
  organization.
• Lender-customer Relationship If you are planning
  to apply for personal loan with the bank you have
  an account with, your good relationship with your
  lender can also help in getting you lower
  personal loan interest rates. In addition to the
  rate of interest, borrowers must also consider
  other charges such as pre-processing fees,
  foreclosure charges, etc. before applying for
  personal loan.

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