Alternate Ways to Get a Personal Loan Online Without Documents

During a sudden financial crisis, the best source of instant funds is personal loans. You can avail of a personal loan to fulfill various financial needs such as medical expenses, wedding plans, business expansions, etc. As it is an unsecured loan, you don’t have to pledge any asset to get this loan. You can repay the loan through EMIs starting from 6 months to 60 months. Therefore, you can also apply personal loan online using Buddy Loan at affordable rates instantly.

Eligibility Criteria

Before applying for a loan, make sure you meet all the eligibility criteria your banks or lending institution mentions.

  1. The age of the applicant must be between 21 to 59 years.
  2. The minimum monthly salary must be above INR 20,000
  3. The applicant should be a working employee or self-employed
  4. Must have a high credit score above 700.

How can you get a Personal Loan without documents?

Some banks and lending institutions offer loans without documents based on a few factors:

  • Have a good relationship with your lender
  • Pay all your dues on time
  • Maintain a high credit score
  • Do not miss out on any payments

The following points show alternate ways you can apply for a personal loan without any documents:

A good relationship with your lender

Buddy Loan offers you personal loan that makes it possible to take out a loan at your convenience. We believe in making finances easier and more convenient for our users. So, whether you are looking to improve your home or want to do holiday shopping, we can help you get the funds you need faster than ever before. Apply loan online now..!

If you are an existing customer in your bank and have a good relationship with your lender, you have a higher chance of getting a loan without any documents. The reason is that the lender trusts based on how consistently you repay your loans and will know your financial status.

Debt-to-Income Ratio

A Debt-to-Income ratio (DTI) is a percentage of your gross monthly income to monthly debts. Ensure that your Debt-to-Income ratio is less than or equal to 50%. It will indicate that you can manage your new debts and have a good repayment capability. As a result, your lender might consider offering you the loan without documentation.

High Credit Score

Having a high credit score will help you get a loan without documents as it shows that you are a credible borrower. A score above 750 indicates you have a good repayment history and creditworthiness, and it shows that you will repay your loan amount within the specified time. This score is generated based on payment history, new credit, credit mix, number of hard inquiries, etc. If you want to know about your credit score, you can check it using Buddy Score to get an instant report about your credit behavior.

You can improve your score by the following steps:

  • Make repayments on time without defaulting
  • Clear your past debts as soon as possible
  • Review your credit report to resolve any potential errors.


From the points mentioned above, the possibility of getting a personal loan without documents is high when you have good relationships with your creditors, have high credit scores, and maintain a stable debt-to-income ratio. However, you must submit minimum mandatory documents like Aadhar Card, PAN Card, Passport, etc., for KYC verification.

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