Loanbaba Personal Loan 

Following are the key details of personal loans offered by the Loanbaba app:

Note: LoanBaba is powered by  https://www.loanbaba.com/ and the information mentioned here is provided by LoanBaba.

Following are the features of personal loans available on baba loan app:

• Loan amount: The loan amount available for personal loans on Loanbaba upto 2 Lakhs. 
• Eligible applicants: These loans are usually offered to salaried individuals only. However, some banks and NBFCs may also offer personal loans for self-employed professionals (architects, lawyers, doctors, and Chartered accountants), firms, and enterprises.
• No security required: These loans are collateral-free. You can borrow funds up to Rs. 1 Crore without pledging any asset as collateral with the lending bank/NBFC.
• Affordable rate of interest: The personal loan interest rates at Loanbaba start from just 10.50% p.a.
• Flexible tenure: The repayment tenure is flexible and ranges between 1 year and 5 years. You can choose tenure as per your repayment ability.
• Instant small cash loan: Apart from offering the personal loan products of partner banks and NBFCs, Loanbaba also offers its flagship instant loan of Rs. 1,00,000 for up to18 months tenure in just 30 minutes at zero prepayment and pre-closure charges.

Following are the benefits of applying for a personal loan through the loan baba app:

• Easy repayments: You can opt for a tenure of up to 5 years and can foreclose anytime.
• Quick disbursal: The loan amount is disbursed quickly in your bank account on approval from the lender.
• Online application: Most partner lenders of Loanbaba allow you to apply for a personal loan online. This reduces the chances of branch visits to request the funds.
• Completely paperless application process: The application and disbursal process is completely digital. Even the KYC is done via the RBI-approved video KYC process.
• Data safety: The app is highly secure HTTPS with 256-bit encryption, so your Data is always in safe hands.
• Minimal documentation: You are just required to submit the basic KYC and income documents to avail of the loan. 
• No restriction on the end-use of the fund: The sanctioned loan amount can be used for any financial need, including a marriage, vacation, education, medical treatment, and so on.

One of the important things to do before you apply for a personal loan is to check the interest rates offered by the lending bank or NBFC. The personal loan interest rate at Loanbaba starts at 10.50% per annum, which is much lower than the interest charged on a credit card loan. The personal loan interest rates differ from one financial institution to another depending on the borrower’s individual profile, income, repayment capacity, credit score, loan amount requirement, loan tenure preference, and other factors.

Following are the personal loan eligibility norms to be met when applying through the baba loan app:

• Age: You must be aged above 21 years
• Income: Your minimum net monthly income must be Rs. 25,000 or more.
• Credit score: A credit score of 650 or above is considered good to avail of the loan via the Loanbaba app.
• Employment history: Most lenders at Loanbaba prefer a minimum work experience of 1 year. You must be able to provide your income proof. Also, a cash salary is not acceptable.
• Ongoing EMIs: As a thumb rule, your ongoing Equated Monthly Instalment (EMIs) should not be more than 60% of your net monthly income.

Below is the list of documents required for salaried, professional, and self-employed applicants to apply for a personal loan via Loanbaba:

Follow the steps mentioned below to apply for a personal loan at Loanbaba:

• Download and install the Loanbaba app. Loan baba app download can be done on Android phones only as of now.
• After installation, create your profile and complete the Loanbaba login process.
• Now scroll to the top of the page and complete your loan application online.
• Fill in the required details like your name, loan amount required, employment status, etc.
• Now, you can check the personal loan offers of top banks and NBFCs in India and apply for paperless loans to get immediate quotes.

Steps to Apply for Small Cash Loan through Loanbaba:

• Install the Loanbaba app on your Android mobile device.
• Select Small Cash Loan and apply.
• Then verify your internet banking when asked.
• Accept loan terms as displayed and select the preferred repayment tenure.
• Keep your PAN Card and Aadhaar Card handy to complete the Video KYC process.
• Configure Auto Debit for EMI deduction.
• eSign the Loan Agreement
• Voilla! Your loan is disbursed.For more information regarding the application process or for any other query, you 
• can contact the customer care team at loan baba customer care number +91 7875380889 or 7057280385. 

For any help regarding Loanbaba and the products & services offered by it, get in touch with the customer care team by dialling the Loanbaba customer care number, i.e. +91 7875380889/ 7057280385.  
You can also share your concern or query via email at customersupport@loanbaba.com.