Buddy Loan Eligibility

At Buddy Loan, we comprehend the significance of having a dependable financial support by your side, particularly with personal loans and business loans. Our offerings extend across a spectrum of needs, including personal loans for marriage expenses, travel plans, vehicle purchases, home renovations, and more.

Personal Loan Amount ₹10,000/-* to 15 Lakhs*
Business Loan Amount ₹50,000* to 50 Lakhs*
*note that the loan amount approvals is at the decision of the lender and depends on one’e creditworthiness and other financial factors.

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Buddy Loan Personal Loan Eligibility

While the specific eligibility criteria may differ depending on the lender, the general eligibility for a personal loan from Buddy Loan includes:

Buddy Loan Business Loan Eligibility

Starting a business venture requires a reliable partner rather than just passion. At Buddy Loan, we understand the significance of providing robust support to entrepreneurs, and our Business Loan offerings are designed to empower your entrepreneurial journey.

Here's a guide to understanding the eligibility criteria for Buddy Loan Business Loans:

Age Min 21 - Max 65 (at the time of loan maturity)
Business Vintage Min 2 years or above
Annual Turnover As per banks
Credit Score 750 or above
Nationality Indian

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Eligibility Criteria By Buddy Loan Lenders

Buddy Loan is more than a Digital Fintech Marketplace; it's a collaborative space where RBI-approved lenders and borrowers can meet each other's requirements & together fulfill financial aspirations. The eligibility criteria vary from lender to lender. However, note that the majority of the lenders expect you to be an Indian citizen with a good credit score of above 750.

Personal Loan Eligibility Criteria By Buddy Loan Lenders

Here is the overview of the eligibility criteria of each lender for a personal loan:

Lenders Eligible Loan Amount Minimum Income Age range
PaySense ₹5,000 to ₹5 Lakh ₹18,000 per month 21-60 years
CASHe ₹1,000 to ₹4,00,000 ₹12,000 per month 23- 58 years
Fibe (EarlySalary) Up to ₹5 Lakhs ₹15,000 per month 21-55 years
Muthoot Finance ₹50,000 onwards ₹15,000 per month 21 - 60 years
Axis Bank ₹50,000 to ₹40 Lakh ₹15,000 per month 21-60 years
ICICI Bank Up to Rs 50 Lakh ₹30,000 per month 23-65 years

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Business Loan Eligibility Criteria By Buddy Loan Lenders

Here is the overview of the eligibility criteria of each lender for a business loan:

Lenders Eligible Loan Amount Age range Credit Score
SMEcorner (AmbitFivest) Up to ₹50 lakhs 23 to 65 years 650+
mCapital Upto ₹15 Lakh 25 - 60 years 650+
mCapital Upto ₹15 Lakh 25 - 60 years 650+
Lendingkart ₹50,000 to ₹1 Crore Min 21 years 650+
Bajaj Finserv Up to ₹55 Lakhs 23-55 650+
Protium Up to ₹30 lakhs Above 21 years 650+
Aditya Birla Capital Up to ₹15 lakhs Above 21 years 650+
Tata Capital Up to ₹75 lakhs Above 21 years 650+

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Personal Loan Eligibility Calculator

It is crucial to have an idea of the loan amount you you can avail based on your present income or salary. To ease this calculation, you can use an Personal Loan Eligibility Calculator, using which you can, check your loan eligibility amount.

₹
%
Monthly EMI ₹86
Principal Amount ₹1,000
Total Interest ₹32
Total Amount ₹1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

The eligibility criteria for personal loan will vary depending on lender, however, largely the eligibility criteria and the set of documents needed generally remains the same. Make sure to go through the eligibility criteria carefully before applying for a personal loan.

Steps to Apply For a Personal Loan with Buddy Loan

Once you are well equipped with the eligibility details, its time to apply for a personal loan. Here are the 4 simple steps to apply for instant personal loan with 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.

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Frequently Asked Questions On Education Loan

The minimum age requirement for Buddy Loan personal loans is 21 years.

Yes, the maximum age for eligibility for Buddy Loan personal loans is 60 years.

Yes, self-employed professionals can apply for Buddy Loan personal loans.

Generally, a credit score of 750 and above is recommended to increase the likelihood of obtaining a Buddy Loan personal loan.

Yes, proper documentation, including income proof and identification documents, is necessary for the Buddy Loan personal loan application process. Ensure you have all the required documents for a smooth application.

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