Privo Personal Loan

Features & Benefits of Privo Personal Loan

Privo is regulated by RBI as an NBFC, ensuring its safety. Below are some of the important features and benefits of Privo personal loan.

• Get a Short-Term Instant Personal Loan in Minutes: You can access a convenient, fully web-based platform for quick personal loans online. The digital process is simple and fast, allowing you to access funds quickly.
• E-Documentation & No Paperwork: With the Privo app, you can easily upload your data and KYC details. All documents can be verified and e-signed, enabling you to borrow multiple times with just one approval.
• Low Interest Rates: Your personal loans start at 9.99% p.a., much lower than credit cards, which can charge 42–45% for late payments. You can borrow up to ₹ 5 lakhs on your first loan.
• No Pre Closure Fees: You won’t face pre closure fees, unlike traditional banks, thanks to the digital operations.
• Trusted Ratings: You can trust the AAA+ rating from CARE and AAA from CRISIL, ensuring reliability.
• Lower Interest for Repeat Borrowers: You may receive lower interest rates on future loans based on your repayment history, leading to savings.

Ways to Use Privo Personal Loans

Here are some of the ways you can use Privo Personal loans for your financial requirements.

• Debt Consolidation: You can use a Privo Personal Loan to simplify your finances by consolidating multiple debts into one manageable payment. This can reduce your financial stress and help you save money with potentially lower interest rates.
• Home Renovations: You can fund home improvements or cover emergency repairs with a Privo Personal Loan, enhancing your home’s value and comfort without relying on high-interest credit cards.
• Medical Expenses: You can use a Privo Personal Loan to cover unexpected medical bills or elective procedures, ensuring you have financial support when your health insurance doesn’t cover everything.
• Education and Career Development: You can invest in your education or career by using a Privo Personal Loan for professional certifications, courses, or necessary tools, helping you advance in your field.
• Wedding Expenses: You can finance your dream wedding or manage unexpected costs with a Privo Personal Loan, ensuring that your special day is both memorable and financially stress-free.
• Travel and Vacation: You can fund your dream vacation or cover emergency travel costs with a Privo Personal Loan, allowing you to enjoy your travel experiences without draining your savings.
• Large Purchases: You can make big-ticket purchases more affordable by using a Privo Personal Loan to spread payments over time, whether it’s for furniture, electronics, or a new vehicle.
• Special Events and Celebrations: You can finance special occasions like milestone birthdays or charity events with a Privo Personal Loan, ensuring you create memorable experiences without upfront financial pressure.

Steps to Apply for Privo Loans

It's simple to create your account and request an immediate unsecured personal loan. You can begin in just a few simple steps:

Step 1:Start by creating your account. You need to set up your profile by providing basic details such as your name, PAN card number, monthly salary, workplace information, and email ID.

Step 2:Next, fill in your KYC details. This includes your Aadhaar number and uploading a selfie. The system will fetch your information from the CKYC portal. You can review and confirm the displayed details to continue with the application process.

Step 3:Finally, select the amount you wish to borrow, specify the purpose of the loan, and choose the tenure. The system will then assess your eligibility and approve your quick personal loan.

Steps to Apply for Privo Loans with Buddy Loan

Here are the steps you can follow to apply for a Privo personal loan through Buddy Loan.

Step 1:Visit buddyloan.com or download & install the Buddy Loan app (Android or iOS).

Step 2: Open the personal loan application page. Provide the mobile number and enter the received OTP.

Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option

Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).

Step 5: Enter your work details (Including company name, years of service and Designation)

Step 6: Enter your personal details (Including Full Name, PAN, address, DOB & Gender)

Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.