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Showing posts from July, 2020

What is the difference between a co-applicant and a guarantor?

Availing an instant personal loan isn’t difficult if you are doing so with a joint venture. Be it a guarantor or a co-applicant, we all have help in hand if we learn to ask. But how do a guarantor & a co-applicant differ? This article clarifies this and also persuades you to choose the wiser options while availing an instant personal loan . Today, Buddy Loan is one of the biggest loan aggregators that has dispensed personal loans with lower interest rates starting at 11.99%p.a., customized EMI options, etc. However, will a co-applicant or a guarantor ease your burden on repayment or credit score? We shall check that below:   Co applicant for a personal loan In order to get a better deal on your personal loan , we avail a co- applicant or a co-borrower. Your loan approval or eligibility increases if your co-applicant has good income & credit score. The next question is who can be co-borrowers? In most of the scenarios, it is usually the family members, like your ...

WHAT IS A CREDIT SCORE?

Are you availing an instant personal loan or investing in a property? This article will help you analyze your credit score to carry the extra benefits while availing any instant personal loan. Let’s understand what exactly is credit score? It is a numerical range/scale that grades your financial behavior. Credit score often appears in the form of 3-digit number that varies between 300-900. By financial behavior we mean, how you repay your loan amount on or before the due date.   Buddy Loan , which is one of the biggest loan aggregators in India disburses instant personal loans with enormous benefits. Enhance your credit with Buddy Loan by availing an instant personal loan on the go. “The average score” So, with the help of this score, you can earn your trustworthiness of the financial institution, NBFC or the lender himself. It is one of the factors they look into before lending you a loan to check your credit worthiness. Banks, lenders and other institutions prefer cre...

If I have a guarantor, what will happen if I don’t repay my loan on time?

Any bank or financial institution requires a guarantor for the loan approval or disbursal. When you or another person who signs up as a guarantor will hold the responsibility of the loan as a principal borrower. This article will help you understand the key responsibilities of a guarantor and what the consequence proves in case of default. Also, if you are looking out at an instant personal loan , look no further than Buddy Loan , one of the biggest loan aggregators in India.   Buddy Loan disburses personal loans at lower interest rates starting at 11.99%p.a., customized EMIs to enhance your credit score.    The role of guarantor: If you are likely to pursue the role of a guarantor for your friend who need an instant personal loan at, he earliest, here is what you should know. You are basically giving consent to the lender that you'll be financially backing the borrower in case the borrower defaults. Not paying your loan on time If your borrower or you as a b...

If I have a guarantor, what will happen if I default on my EMIs?

Any bank or financial institution requires a guarantor for the loan approval or disbursal. When you or another person who signs up as a guarantor will hold the responsibility of the loan as a principal borrower. This article will help you understand the key responsibilities of a guarantor and what the consequence proves in case of default. Also, if you are looking out at an instant personal loan , look no further than Buddy Loan , one of the biggest loan aggregators in India.  Buddy Loan disburses personal loans at lower interest rates starting at 11.99%p.a., customized EMIs to enhance your credit score.    The role of guarantor: If you are likely to pursue the role of a guarantor for your friend who need an instant personal loan at, he earliest, here is what you should know. You are basically giving consent to the lender that you'll be financially backing the borrower in case the borrower defaults. Not paying your EMIs on time If your borrower or you as a bo...

If I have a co-applicant, what will happen if I don’t repay my loan on time?

Who will not like an extra support while applying for an instant personal loan ? Especially, if it means to include your spouse too. Co-applicant’s hand makes it easier for the approval of heavy amount loan. This article will help you understand the key responsibilities of a co-applicant and what the consequence proves in case of default. Also, if you are looking out at an instant personal loan , look no further than Buddy Loan , one of the biggest loan aggregators in India.   Buddy Loan disburses personal loans at lower interest rates starting at 11.99%p.a., customized EMIs to enhance your credit score.      The role of a co-applicant: Co-applicant is a person who applies along with the applicant from a bank or financial institution. He/ She accepts the equal responsibility of repaying the installment on time if the borrower doesn’t pay. So, only co-owners can become co-applicants. In which case, the co-applicants are none other than your spouses or in s...

If I have a co-applicant, what will happen if I default on my EMIs?

Who will not like an extra support while applying for an instant personal loan ? Especially, if it means to include your spouse too. Co-applicant’s hand makes it easier for the approval of heavy amount loan. This article will help you understand the key responsibilities of a co-applicant and what the consequence proves in case of default. Also, if you are looking out at an instant personal loan , look no further than Buddy Loan , one of the biggest loan aggregators in India.   Buddy Loan disburses personal loans at lower interest rates starting at 11.99%p.a., customized EMIs to enhance your credit score.      The role of a co-applicant: Co-applicant is a person who applies along with the applicant from a bank or financial institution. He/ She accepts the equal responsibility of repaying the installment on time if the borrower doesn’t pay. So, only co-owners can become co-applicants. In which case, the co-applicants are none other than your spouses or in s...