Unsecured Loan in Bangalore

Loans are the smartest solution to any kind of financial deficits. Unsecured loans in Bangalore from fintech companies like Qbera are an excellent way to tide over immediate monetary needs. Being unsecured there are no assets that are to be pledged with the company. This makes them high risk loans along with high interest rates. However, Qbera offers economical interest rate starting at 10.99% and long repayment tenures as well. Personal loans can be used to fund a variety of needs and so its important to analyze the requirement before applying for an unsecured loan in Bangalore. Loan amounts ranging from Rs. 50 000 to Rs. 25 00 000 can be applied from Qbera that cab fund a wide variety of requirements. 

Unsecured Loans in Bangalore - Qbera vs Banks

Features of an unsecured loan in Bangalore

• Instant approvals: the digital process involves online document submission and instant approvals after verification. Qbera promises the amount in your bank account within 24-48 hours of successful verification.

• Economical interest rate and long repayment tenure: with an interest rate that starts at 10.99% and a long repayment tenure that spans up to 5 years, an unsecured personal loan is quite economic and competitive.

• Low- income group: Qbera caters to the low-income category that faced trouble in getting a loan. You can apply for a Qbera loan if you have a minimum take home salary of Rs18,000.

• loans for employees of unlisted companies: Qbera does have a vast database of more than 7 lakh companies which makes the probability of rejection considerably less. They also do consider applicants working with unlisted companies. 

• Loan for individuals in shared accommodation:  Those who choose to stay as paying guests or are in shared accommodation with friends in the city find that most banks reject their loan applications. The stability of a person staying in shares accommodation being the point to consider. Fintechs like Qbera offers respite for such individuals seeking quick unsecured personal loans in the city.

Tips to ensure manageable Interest rate despite Low CIBIL:

• To counter your low credit points, you can establish your ability to manage regular EMI payments and sufficient income with supporting documents. The tenure at the job and overall job stability is a contributing factor.

• To bring down the rate of interest, you can apply for an unsecured personal loan along with a co-applicant or a guarantor. This helps if your spouse or co-applicant has a good credit history.

• It is a possibility that your previous loan closure reports haven’t been communicated with the bureau. So, do a regular screening of your credit report and take corrective measures, if needed.