A personal loan is the best option to meet your cash needs when unexpected financial problems arise. With Buddy Loan App, you can get instant approval for a personal loan of up to ₹15 lakhs in just 3 minutes. A personal loan is an unsecured loan you can receive without collateral or security.
Buddy Loan is a Personal Loan aggregator platform partnered with RBI-registered NBFC lending partners. You can get a Personal Loan from ₹5000 to ₹15 Lakh at an interest rate starting at 11.99% per annum with a tenure of 6 months to 5 years, and a hassle-free process with no paperwork. Apply online today!
Buddy Loan App Review
| App Name | Buddy Loan – Personal Loan App |
| Interest Rate | Interest rate starting from 11.99% per annum. |
| Personal Loan Amount | ₹5000 to ₹15 lakhs |
| Tenure | 6 months to 5 years |
| Application Process | 100% Digital Process |
| Buddy Loan app customer Care Number | 080-47097512 Email ID: info@buddyloan.com |
Why Choose the Buddy Loan App?
Buddy Loans makes it easy to provide pre-approved personal loans by connecting with over 30 banks and NBFC/RBI-approved lenders, offering potentially competitive interest rates starting at 11.99%.
With over 3 crore downloads, its fully digital process ensures a quick and convenient application with high approval rates and instant loan approval in just 3 minutes.
You can also check your credit score in the app while applying for a loan.
Features of Buddy Loan App
The Buddy Loan app provides several amazing offers, which are mentioned below and will help you understand this loan.
Instant Approval: Get instant loan approval in 3 minutes by submitting a loan application online through a 100% digital process with Buddy Loan App.
Loan Amount: You can get an instant personal loan from ₹5000 to ₹15 Lakh to meet your financial needs through Buddy Loans. This gives you complete freedom to use the money as per your needs.
Quick Disbursal: After loan approval, you don’t have to wait endlessly to receive your funds. The funds will be credited to your account within a few hours so that you can meet your financial needs without any delay.
Collateral-Free Loan: Unsecured funds keep you worry-free. Buddy Personal Loans are unsecured, you can avail of this loan without worrying about providing any collateral.
Affordable interest rates: Buddy Loan provides you with the funds you need when you need them, and that too at an affordable interest rate. Personal loan Interest rates start from 11.99% p.a.
Safe and Secure: Buddy Loans emphasises the safety and security of your data. Buddy App says your information is transferred over a secure HTTPS connection and uses advanced security measures to ensure your personal and financial information remains safe and confidential throughout the loan process.
Buddy Loan App Eligibility Criteria
Instant loan approval depends entirely on the eligibility criteria. Eligibility criteria differ for each lender; below are some necessary criteria.
- Age: You must be above 21 years of age.
- Nationality: Must be an Indian citizen.
- Source of Income: It is necessary to have a source of monthly income so that you can pay the monthly EMIS on time.
- Credit History: Lenders check your credit report to know your creditworthiness. If your score is 700+, you can apply for a loan. A good credit score attracts higher loan amounts.
- Mobile Number Linked to Aadhaar: To do online KYC, you must have a mobile number linked to your Aadhaar card, which you must keep with you while applying for a loan.
Documents Required for Buddy Personal Loan App
To apply for a personal loan, a borrower needs some necessary documents, which are listed below:
- Identity Proof: Any one of the documents – PAN Card, Ration Card, Aadhar Card, Voter’s ID Card, Driving Licence
- Address Proof: Any one of the documents – Aadhar Card, Passport, Voter ID Card.
- Income Proof: If you are applying for a higher loan amount, you must submit proof of regular income, such as a 6-month bank statement, salary slip, or income tax return.
How to apply for a personal loan on the Buddy Loan App?
To apply for a personal loan on the Buddy Loan app and get loan approval in 3 minutes, you need to follow a few simple steps, which are mentioned below.
Step 1: Download, Install, and Register
Download and install the app. Open the app and register using your mobile number and email ID to create an account.
Step 2: Fill out the application form:
After creating the account, you fill out the “New Loan” application Form by entering your PAN, Aadhaar number, employment status, residence proof, bank details, etc.
Step 3: Complete the KYC process:
After filling out the application form, you complete the KYC process with your Aadhaar and take a selfie through the app.
Step 4: Choose the loan amount and tenure:
After the KYC process is completed, you can choose the loan amount and select the repayment tenure, then submit your application for approval.
Step 5: Approval and Disbursement:
After submitting your application form, you get approval in 3 Minutes, and the loan amount is disbursed to your bank account within a few hours.
FAQS Related to Buddy Loan App
What is the minimum CIBIL score for Buddy Loan?
CIBIL score plays the most important role in personal loan approval. You are more likely to get loan approval if your credit score is high. As per the Buddy Loan app, the minimum CIBIL score required for a personal loan is 750 or above.
What is the salary requirement for Buddy Loan?
Buddy Personal Loan is an unsecured loan. Hence, lenders require proof of income, such as a salary slip and bank account details, to confirm repayment. A minimum salary of Rs 15,000 is required for Buddy Loan to provide an instant personal loan.
