Denied Loan by a Bank? It may not be your fault.

Denied a Loan by a Bank? It may not be your fault.

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Applied for a loan recently and your application got rejected. It may not be your fault. Most lending agencies in India follow a very strict criteria to whom they lend. Besides a person’s credit history, where one works becomes an important criteria for approval.

Unless your organization features in the list of approved companies there is little chance that your loan would be approved. Raising multiple inquiries with different lenders will further reduce your credit rating and making it more difficult to procure a loan.

We at Qbera are set out to change this. Access to credit should be easy and as long as one has the ability to pay back a loan it should not matter where a person is employed.

Employers are classified into broadly these 4 categories A+ / A / B / C. The universe of companies that a bank lends to is about 50,000 out of which only about 9,000 are classified as A+ or A.

At Qbera we cover more than 7,00,000 companies out of which we classify almost 35,000 into A+ or A category. Our extended company database allows us to extend credit to those who are underserved by the current lending agencies.

Below is a case study of a borrower who faced a similar situation –

Suresh works for a Big 4 audit firm based out of Bangalore and is earning Rs. 60,000 per month. He holds a credit card and makes sure that he always pays back the due amount before the due date. Suresh recently came across a used car that he wanted to purchase and applied for a personal loan of Rs. 3 lakh. His loan application however, was rejected by the 3 lending institutions that he approached. Upon enquiry he found out that his employer was not on the approved list despite being a Fortune 500 company.

Suresh then applied for a loan on Qbera.com and got an approval within 15 minutes. By the end of the same day he had the funds in his account. The next day he picked up the car from the dealer along with his family.

 

Getting a loan on Qbera.com is as easy as shopping on an e-commerce website

  1. Logon to Qbera.com
  2. Fill out the simple application form
  3. Upload last 6 month bank statement of your salary account
  4. Get a final offer
  5. Our representative comes and collects the documents
  6. Loan amount transferred to your bank account on same day

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