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.

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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.

By Haadi