Srikanth Bureddy & Satish Saraf's fintech startup- Buddy Loan offers higher disbursal rate on personal loan application through AI
Mar 11, 2021
Bangalore (Karnataka) [India], March 11 (ANI/Veritas Digital): Bangalore-based fintech startup - Buddy Loan, one of the fastest-growing personal loan aggregators cofounded by serial entrepreneur duo Srikanth Bureddy and Satish Saraf, offers 2x higher disbursal rate than the industry standards through an Artificial Intelligence (AI) powered platform. It also generates over 10,000 daily loan applications.
Srikanth and Satish's creation Buddy Loan offer collateral-free best lending options to its customers from India's top lenders on an AI-driven platform. The technologically advanced platform matches each customer's loan needs with the onboarded lenders' eligibility requirements, thereby presenting the best-suited loan options to the customers. Since the screening is designed to match the borrower's and lenders' requirements, it ensures a higher loan disbursal rate than the industry standards.
Satish Saraf, Co-Founder of Buddy Loan, said, "Buddy Loan is a one-stop-shop for borrowers. The AI-powered platform reduces the nuisance of checking loan eligibility with various lenders and offers the best options on a single platform. At the same time, it enables lenders to process and grant loans quickly as they receive only those loan applications that fit their eligibility requirements. This ensures higher loan disbursal rates."
Srikanth Bureddy, Co-Founder of Buddy Loan, said, "The idea behind creating this platform was to ensure higher efficiency in the personal lending space by making the process easy for lenders and borrowers both. And we achieved that in a very short period. After building the platform successfully, our aim now is to add more features to the platform to provide a superior experience."
Personal loan application through Buddy Loan is easy, instant, and document-free. Borrowers can use the loans to meet any financial needs, and they only need to fill a digital form for the loan application. A loan gets sanctioned within 48 hours through Buddy Loan's lending partners. The lenders offer affordable interest rates starting at 11.99 per cent p.a. There are no prepayment charges and hidden fees.
Buddy Loan has generated over 7 million loan applications amounting to Rs. 6640 Crores in a span of just 17 months since its launch in Sept 2019. It is a user-friendly digital-only platform, accessible 24/7 through the web, iOS, and android app. Using the app, users can also avail exciting deals and offers, earn and redeem points at multiple levels.
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