At Buddy Loan, we comprehend the significance of having 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 approval is at the decision of the lender and depends on one’s creditworthiness and other financial factors.
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:
- Citizenship: must be an Indian resident.
- Age Range: minimum age of 21 years and maximum age of 60 years.
- Employment: eligible categories include salaried individuals, public/private sector employees, government workers, and self-employed professionals/non-professionals.
- Minimum Salary: ₹15,000 per month
- Creditworthiness: a credit score of 750 or higher enhances the chances of securing a personal loan.
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 |
Eligibility Criteria By Buddy Loan Lenders
Buddy Loan is more than a Digital Fintech Marketplace; it’s a collaborative space where verified 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 |
| Loanbaba | ₹1 Lakh to ₹15 Lakhs | ₹25,000 per month | Min 21 years |
| MoneyTap | ₹3000 to ₹5 Lakhs | ₹30,000 per month | Min 23 years |
| KreditBee | ₹10,000 to ₹4 Lakhs | ₹10,000 per month | 21- 60 years |
| mPokket | ₹500 to ₹30,000 | ₹9000 per month | 18- 60 Years |
| Upwards | ₹20,000 to ₹5 Lakhs | ₹20,000 per month | Min 21 years |
| Money View | ₹5,000 – ₹5 Lakh | ₹13,500 per month | 21-57 years |
| Prefr | ₹10,000 to ₹3 Lakhs | ₹15,000 per month | 22 – 60 Years |
| Incred | Up to ₹3 Lakhs | ₹15,000 per month | 21- 55 Years |
| L&T Finance | ₹50,000 to ₹7 Lakhs | – | 23 – 58 Years |
| NIRA | ₹5,000 to ₹1 Lakh | ₹12,000 per month | 21- 55 Years |
| Zype | ₹10,000 to ₹5 Lakhs | – | – |
Get Personal Loan Online Up to ₹15 Lakhs
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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+ |
| 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+ |
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.
Your Amortization Schedule (Yearly/Monthly)
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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