Qrates

Is BankBazaar safe and registered in India? Licences and complaints

BankBazaar is a loan aggregator, not a direct lender, so it does not hold a direct RBI licence. We checked its phone permissions, regulator warnings, and 385 recent reviews to see if it is safe to use and what goes wrong with credit reports and spam calls.

By Qrates research desk · 2026-10-27

BankBazaar is a financial marketplace and loan aggregator, not a direct lender. Because it acts as a bridge to other banks, we could not match a licence on the registers we check. Out of 385 recent reviews we read, 23 users reported credit report problems and 7 felt pushed into things, though the app maintains a 91 percent reply rate to complaints (Qrates directory).

Quick answer: Is BankBazaar safe and RBI registered?

BankBazaar is a financial marketplace and loan aggregator, not a direct lender. Because it is an aggregator, we could not match a licence on the registers we check (RBI, SEBI, IRDAI).

The app has over 1 crore installs and an overall Google Play rating of 4.53 from 1,44,858 ratings (Qrates directory). If you use it to check your free CIBIL score or compare loans, your data is shared with partner banks and RBI registered NBFCs. You can browse similar platforms in the loan and credit apps section.

Licence and registration: Who is behind BankBazaar?

The BankBazaar app is published by A&A Dukaan Financial Services Private Limited. We could not match a licence for this company on the RBI, SEBI, or IRDAI registers we check (Qrates directory).

This is common for loan aggregators, as they do not lend their own money. They act as a bridge between you and licensed banks or NBFCs who issue the loans and co-branded credit cards. You can compare how other platforms handle these relationships in our BankBazaar vs Olyv: Loan Apps, Permissions And Complaints Compared guide.

Regulator warnings

There are no active alerts or warnings from the RBI against BankBazaar or A&A Dukaan Financial Services Private Limited. The RBI Sachet portal, which lists unauthorised lending apps, does not flag this platform.

What BankBazaar can read on your phone

According to the Google Play Store, the BankBazaar app requests permission to see your location (Qrates directory). It does not ask for permission to read your SMS messages, contacts, or photo gallery. This limited access is a positive sign for data privacy compared to many instant loan apps. For a deeper look at how these permissions vary across the industry, see our BankBazaar vs GoodScore: App permissions, spam calls and RBI rules in 2026 analysis.

What users complain about: Spam calls and credit reports

The average rating from recent reviews over the last 90 days is 3.67 (Qrates directory). The company actively manages its reputation, replying to 91 percent of one and two-star reviews.

We read 385 recent Google Play reviews to see what goes wrong and what works well.

What users say Mentions (out of 385 reviews)
Credit report problems 23
Easy to use 17
Nobody answers 11
Pushed into things 7
Cheap to run 5

The 7 users who felt pushed into things align with common worries about spam calls after sharing phone numbers on financial marketplaces.

How to check if a financial app is genuine yourself

  1. Find the exact publisher name at the bottom of the app store page (for BankBazaar, it is A&A Dukaan Financial Services Private Limited).
  2. Open the official RBI website and download the latest list of registered NBFCs.
  3. Search the document for the publisher name to see if they hold a direct lending licence.
  4. Check the RBI Sachet portal to see if the regulator has issued any warnings about the company. If you ever feel a company has acted unfairly, learn how to complain to the RBI Ombudsman on cms.rbi.org.in.

FAQs

Is BankBazaar approved by RBI?

BankBazaar does not have a direct RBI lending licence because it is an aggregator, but it partners with RBI approved banks and NBFCs. It operates on a commission-based model by generating leads for third-party lending partners.

Is it safe to check free CIBIL score on BankBazaar?

Checking your CIBIL score on BankBazaar is a soft inquiry. A soft inquiry does not lower your credit score, regardless of how often it is done. You can also compare this experience with other credit score apps.

Does BankBazaar sell my data?

BankBazaar shares your data with its lending partners when you apply for a product, which is outlined in their privacy policy. You cannot opt out of this sharing if you apply through the platform.

Why is BankBazaar calling me?

You may receive calls because submitting an inquiry on the platform gives partner banks permission to contact you with loan or card offers. By using the service, you consent to being contacted via email, telephone, or SMS, expressly waiving any Do Not Disturb registry preferences.

The short version

  • BankBazaar is a loan aggregator and financial marketplace, not a direct lender.
  • The app is published by A&A Dukaan Financial Services Private Limited, which has no direct lending licence on the registers we check.
  • The app asks for permission to see your location, but does not ask to read your SMS or contacts.
  • Recent complaints focus on credit report problems and customer care, though the developer replies to 91 percent of negative reviews.

Sources

Disclaimer

Qrates is an information directory. It takes no commission from any company listed and does not recommend products. Figures are taken from the sources named and dated, and they change; check the company's own page before you decide. This is not investment, credit, insurance or tax advice for your situation. A licence or a clean record today does not guarantee how a company behaves later. To complain, use the regulator's own portal (RBI CMS, SEBI SCORES or IRDAI Bima Bharosa).

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