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Loan amounts range from Rs.50,000 to Rs.25,00,000. APR ranges from 10.99% to 35.99%. Loan lengths range from 12 to 60 months. Administration fee ranges from 1% to 5%.

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

Parameters Qbera Banks

Parameters

Qbera

Banks

Processing fee

1% -5%

2.25% of principal + GST

Interest rate

Starting at 10.99%

Starting at 11.99%

Credit Score required

600 and above

750 and above

Loan amount 

Up to Rs 25 00 000

Up to Rs 15 00 000

Minimum age required

23 years

21 years

Pre-closure charges

5% + GST

5% + GST after a lock in period

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.


View a complete list of our FAQs at our help center
Getting a Qbera Smart Loan is Simple
Fill out our online application form
Step 1: Online Application Form
Get approved instantly
Fill out our online application form by answering a few questions about yourself, your employment, your education, expenses and needs. This process would take no longer than 10 minutes.
Connect your Bank Account
Step 2: Connect bank account
Submit your bank statements
Connect securely to your bank via netbanking and submit bank statements as part of the easy loan application form. Alternatively, you can upload bank generated pdf bank statements.
Select your loan term
Step 3: Loan term
Choose your Loan Term
Using our proprietary Credit Scoring Algorithm we determine your loan eligibility in real-time. Our algorithm uses the information about you, to determine your future potential and help you get the best rate instantly.
You’re done! Get the money in your Bank Account as early as tomorrow.
Example: A loan offer of ₹2 lac, for a tenure of 3 years at an interest Rate of 16.6% (on a reducing principal) and a processing fee of 2.5%. Translates to:
  1. Processing Fee deduction of ₹5000 (2.5% of 2 Lacs) from loan amount, thus, the amount credited to your account will be ₹1.95 Lacs
  2. EMI of ₹7091 per month
  3. Total payable amount in 3 years = 36 times ₹7091 = ₹2,55,276
  4. Total Interest paid in 3 years = ₹55,276, hence, annual interest paid = ₹18,425 (which translates to an effective flat annual rate of interest of 9.21%)
Repaying a Qbera Smart Loan is just as Simple
Repay your loan with automatic EMI payments.
  • Age: 21-57 years old
  • Net Monthly Income must be more than Rs. 18,000.
  • No defaults in the last 24 months.
  • You must be residing in Delhi/NCR, Bangalore, Pune, Chennai, Mumbai, Hyderabad, Jaipur, Ahmedabad or Kolkata.
  • Aadhaar Card
  • PAN Card
  • 4 Cheques from your Salary Account
  • Current Address Proof
  • Permanent Address Proof (in case the permanent address is different from the address on Aadhaar card)
Pradeep

Pradeep

"I am really happy that I got a loan from Qbera. My application has been rejected by lenders in the past without giving any explanation for rejection. Qbera approved my loan with minimum documents. Thanks a lot once again."

Shekhar

Shekhar

"I would like to thank Qbera for speedy loan processing. I was having a tough time in deciding which bank would actually take my request for a loan as the loan was supposed to be for credit card payoff. I was forced to use my credit card for an unforeseen expense which I could not avoid and was finding it tough to pay back due to the high interest cost on credit cards. I did not want to make many enquiries as many requests can lower the CIBIL score. I contacted Qbera on a Monday and by evening itself they had an offer for me. They kept me informed through every step of the process and were also flexible with regards to my commitments. In the end, the loan was disbursed within two days of documents submission. Thank you Qbera for simplifying the process and helping me find a loan. " Show more...

Syed

Syed

"It was a nice experience with Qbera. I have never seen such an easy process for getting a loan, especially when you need it the most. Thank you Qbera for your support."

Anish

Anish

"I had a hassle-free experience with Qbera. It was a very easy application procedure and in a short span of 3 days I got my loan credited to my account. Thank you so much for the support Team Qbera"

Arun

Arun

"It was very easy to get a loan from Qbera. I just applied on their website and got a confirmed offer immediately. The amount was transferred soon after. Will give it 5 out of 5"

Bhaskar

Bhaskar

"It's good and quick response from the Qbera team to get the loan. They are very good at the communicating the things properly and appropriately"

Are you ready to get your Qbera Smart Loan?
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QBERA

We are a Bangalore-based company offering digital, quick, hassle-free personal loans to people when they need them.

Loan amounts range from Rs.50,000 to Rs.25,00,000. APR ranges from 10.99% to 35.99%. Loan lengths range from 12 to 60 months. Administration fee ranges from 1% to 5%.

* Subject to Risk Profile

Need Help?
Contact our support team via WhatsApp by clicking below:
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E-mail: contact@qbera.com
Phone: 1800 4198 121
Whatsapp:+91 89719 28484
Address:
2nd Floor, Featherlite Vista Building,
MV Jayaram Road,
1st Main, Vasanth Nagar.
Bangalore 560 052

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