Any resident of India above the age of 21 years with a 1 year long business or who is salaried or has a monthly source of income, any registered sole proprietorship or partnership company with a 1 year long business, may apply for loan from Paisabuddy.

The processing time of each loan varies. Once the complete set of documents as mentioned in document segment are submitted, it usually take 3-4 business days to complete the loan process.

The Company looks at criteria like Income, age, stability, existing loans the condition and location of property etc. For further details, please visit product section.

The loan which you take by keeping a self-owned property / security as collateral is called a Loan Against Property (LAP) or a secured loan. The value of the property determines the amount of loan that can be sanctioned.

For disbursement clearance of securities provided is a must e.g in Loan against property – legal and technical clearance is to be availed from panel professionals of PaisaBuddy. However customer need not run around to get this done. This process is managed by team PaisaBuddy. Customer needs to sign agreement and provide repayment instruments.

Yes, in case technical evaluation has not happened before sanction, then in such cases if valuation of proposed property is lower than estimated then disbursement / eligibility may go down.

No. Currently we do not offer such facility

Yes you can avail, in such conditions PaisaBuddy would evaluate the requirements and in case viable PaisaBuddy would part disburse the loan. Customer in such cases need to service simple interest on disbursement. EMI would start only after full disbursement

Yes, ONLY if the loan has been pre-closed. With ongoing loan, property cannot be sold as it is a legal offence. PaisaBuddy can help getting buyer of property with a loan and hence can do an internal transfer.

No, PaisaBuddy offers loan against self-owned properties of self or of blood relative

Yes, for details please refer your sanction letter or get details from our Relationship Officer at the time of proposal.

Yes. You can avail subject to eligibility.

Yes, it is mandatory to take all owners as borrowers / co-borrowers to the loan.

Yes. PaisaBuddy on case to case basis takes such property as security, however initial funds provided will be for completing the property. Balance funds can be used for business / personal use.

Loan provided by an NBFC / Bank is guided by rules and regulations of RBI which might change from time to time. e.g Usage of funds for Business expansion / machinery purchase/ small working capital requirement or personal uses like education / medical emergency / marriage etc is allowed. Use for speculative / criminal activities etc are not allowed

Yes, you can change your tenure by connecting with the branch.

Request needs to be submitted in written along with ID proof at the branch

Yes, you can repay your loan before due date, however, pre-closure charges would be applied as per the terms mentioned in sanction letter.

You can request a payment link by reaching out to us on our number (+91 7230074650) by your registered mobile number or reach out to us on [email protected].

It is very important that you pay your EMI on time in order to avoid delayed additional charges, maintain a good credit rating, and avoid collections follow up. Please maintain adequate balance in your bank account around the repayment date. Not paying your EMI on time could result in your credit bureau score being affected, and also legal proceedings as per the guided law and regulations.

Usually it takes more than a week to process any loan from bank and the process of applying the loan requires a lot of documents and frequent visits to the bank. However, with Paisabuddy you can apply the loan online, requires less documentation, and it hardly takes 15 minutes in the entire process. The amount is processed in lesser time and it’s transferred directly to your bank account, available for use anytime and anywhere as per your convenience.

A Credit Score represents your credibility to pay back the loan. It can come between 300 and 850. The higher the score, the more likely you can get a loan. You need a minimum of 650 credit score to apply loan from Paisabuddy.

You can check your credit limit or maximum disbursement amount on the Paisabuddy website in you’re my Account/Profile section.

You can check your credit score on our website by providing the relevant information.

Credit report to be rectified either direct approach to CIBIL through CIBIL site www.CIBIL.com or mail or call to the customer care of the respective financier.

Yes, you can avail loan from Paisabuddy without any credit history. Check the eligibility required for loans in “Our Products” section.

Yes, your credit report provides the company with the information regarding your CIBIL score, your credit history, and credit worthiness. These criteria help in the process of loan approval.