Hello, friend. I had intended to apply for a personal loan from Buddy Loan a few months ago based on a friend's recommendation. As he already took out a loan from Buddy Loan last year, I asked him about the Buddy loan rate of interest. He said the personal loan interest rate for Buddy Loan normally starts at 11.99%. Furthermore, it varies based on several aspects, which I have included below.
What is a Buddy Cash Loan Interest Rate?
He further informed me that the interest rate for a personal loan through Buddy Loan can vary depending on multiple factors, including the lender, the borrower’s credit score, income, loan amount, and tenure.
He said if as a borrower you have a high credit score and stable income, then you may secure a loan at the lower end of the interest rate range. But, someone with a lower credit score might be offered a higher rate.
He also said that borrowers with a credit score of 750 and above are more likely to receive lower interest rates, as they are considered low-risk by lenders.
Steady and sufficient income can lead to better interest rates, as lenders view this as a sign of the borrower’s ability to repay the loan.
Higher interest rates may be associated with larger loan amounts and longer loan terms, although this will depend on the lender's policies.
At the end, he said to secure the best Buddy Loan personal loan interest rate, it’s advisable to maintain a high credit score, opt for a shorter loan tenure, and ensure all necessary documents are in order. I hope you found this answer helpful.
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What is Buddy Loan Personal Loan Interest Rate?
Ravi
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57 days
2024-09-12T23:31:36+00:00 2024-09-29T10:34:34+00:00Comment
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