Introduction
Buddy Loan: Hello there, we hope that everything has been going we for you guys reading this. Are you low on money and cash? Furthermore, do you feel like taking help from short term loans? And lastly, are you on the internet to find more information about Buddy Loan? If your answers to these questions are yes, then you should rest assured due to the fact that you are at the right place. You will find everything you need in this comprehensive blog. We will try to be as elaborate as possible. For the same reason, try sticking with us till the end. Surely, you will find reading this beneficial and worth your time.
What is Buddy Loan?
Buddy Loan is basically an online platform that lenders money to its users. Evidently, their services offer loans with starting amounts of Rs. 10000. Thereafter, it goes up till Rs. 15 lakhs. Meanwhile, these are considered to be short term loans. it comes with repayment options which are considered to be flexible. In addition, it can be simply described as a personal loan aggregating platform. Through this platform, users can get instant personal loans with interest rates starting from 11.99 percent per annum. Undoubtedly, this platform is available as both application and website.
More about the Buddy Loan platform & how it works
Buddy Loan claims to have the integration of the largest numbers of personal loan providing organizations. These include NBFCs and the banks. At the same time, there are many loan seekers that are already associated with them. And, more keep coming every day. The users in need of instant loans heavily take advantage of their services. Moreover, they also claim that they have managed to reach the masses efficiently. Also, according to them these are the reasons behind them having the highest number of personal loan approvals in the nation. They aim at providing best matches for lenders as well as borrowers. In this way they act as a bridge between the both parties. Evidently, their advanced AI based software and systems are highly responsible for their efficient working process. Lastly, their credit approval process is also very fast because of their API enabled systems.
Overview and details of the Buddy Loan
- Platform name: Buddy Loan
- Legal Name: BValue Services Pvt. Ltd.
- Headquarters: Bengaluru, Karnataka, India
- Business Model: B2C
- Founding Date: 2019
- No. of Employees: 101 to 150
- Founding Members (Core Team): Satish Saraf and Srikanth Bureddy
What are the advantages of using Buddy Loan?
They provide online loans which are hassle free.
- Both their websites and application have a user-friendly interface. Therefore, making it easy for the users to navigate.
- Minimal documentation required to apply for a loan online.
- Evidently, the application process is very fast and easy to configure.
- Mostly, their loan approvals come withing 48 hours. For the same reason, they offer it quickly.
- Users who have urgent needs of some money do not have to wait.
- The interests rate depends on how credit worthy an individual is. However, interest rates start from 11.99 percent per annum. In comparison to other lenders their rates are very competitive.
- The way you can choose your repayment tenure makes it very flexible. Evidently, they provide an option to choose between 12 months to 5 years.
Disadvantages of Buddy Loan
- According to many users the maximum loan amount limit of Rs. 15 lakhs might be very low. Hence, they might have need of more funds for whatever purposes.
- Users who have low credit scores might get loans which have high interest rates. Therefore, the loan becomes even more expensive to have.
- Lastly, they are not loan providers themselves. This platform just connects borrowers with lenders. Hence, many terms of your loan depend on the lender that you are assigned with.
- Sometimes, the borrowers get stuck with debt that they are not able to repay afterwards.
Often, such platforms do no have licenses that make them less reliable for business operations.
What should you keep in mind while borrowing money from Buddy Loan?
Indeed, borrowing money with any entity comes with a responsibility. Same thing applies here as well. That is why each and every individual should be completely sure while taking money from lenders on this platform. There are certain factors that one needs to keep in mind. First, you should not blindly rely on the rates that they advertise. You should focus on comparing rates with different vendors and platforms. This way you can ensure that you get the best deal possible. You should carefully read the entire terms and conditions before actually signing any loan agreement. Look for details like interest rate, repayment terms and any associated fees. Also, you should borrow responsibly. You should ensure that you only take amounts that you will be able to repay without any hassle. Hence, this will help you avoid getting stuck with debt.

Eligibility criteria for getting personal loans by Buddy Loan
Here loans are provided to individuals who are either salaried or self-employed.
- Only Indian citizens are allowed to apply here.
- The age of the individual who is applying should be in between 18 to 60 years.
- The individuals who are salaried are required to have at least 2 years of employment at the particular organization.
- Lastly, to take benefit of their services you are necessary to have a credit score that is above 750.
Conclusion
With this, we conclude this blog. We expect you to have found what you were looking for. Indeed, Buddy Loan is a great beneficial platform. We hope that you found this blog useful and informative. We tried to give you all the important information. Lastly, if you liked this blog consider checking out some of our other ones as well.
AUTHOR- Piyush Chauhan