Personal Loans made simple!
Easy Loan in Chennai
Easy loans in Chennai are available in the form of personal loans from Fintech companies like Qbera. True to their name, easy loans are instantly processed and disbursed. The process is completely digital and ensures accuracy using hi-tech advancements. The process of e-verification has speeded up the process making it possible to disburse a loan within a matter of hours if not days. These easy loans are unsecured and so no collateral or guarantor needed as well, making it one of the easiest and feasible loans to tide over any kind of monetary issues without putting assets on the line.
Easy Loans in Chennai - Difference between Qbera and traditional banks
CIBIL score of 600
A minimum CIBIL score of 750
Minimum net monthly income of Rs. 18,000
Minimum net salary of Rs 30, 000 and more
No defaults in the last 12 months
No defaults in the last 12 months
Late payments a few times are allowed
Late payments attract heavy penalty
Features of Easy Loans in Chennai from Qbera
• Complete digital experience as the entire process is completely digital.
• Quick disbursal time of 24-48 hours after document verification
• Competitive interest rate starting at 10.99% is one of the best in the lending arena.
• Long repayment tenure that ranges up to 5 years so that the monthly payouts are not a burden.
• Individuals with low-income can apply and be sure to be considered.
• Individuals staying in shared accommodation are considered keeping other social and economic criteria in mind.
• The highly flexible loan can be used to manage a variety of monetary requirements with no kind of capping by the lender.
Factors that impact the credit score of an individual
The importance of having a good credit score cannot be undermined. This feature gives an insight into the credibility of an individual to prospective lenders and they do take this feature seriously. The various factors that have a profound impact are listed below. A careful study of what is making your score to go low can be helpful in working towards an ideal score.
• Payment history which is a gist of all past payment is one of the major contenders. This exhaustive list includes defaults and late payments, and these are reflected for a long time period as well. This is also a red flag for many lenders who choose to not take the risk with defaulters.
• Having diverse credit types is considered good. The presence of both secured and unsecured loans is preferred and shows the level of credit management skills.
• Credit inquiries made by lending institutions are also known as ‘hard-pulls’. Many such inquiries are thought to be signs of credit-hungry behavior and are deterrents for lending institutions.
• The level of debt usage is another important factor. The closer you are towards the maximum allowed limit, lower the score. This also provides an insight into the credit utilization and management done by the applicant.
Interest Rate & Other Charges
||11.99% to 35.99%
|| 1% to 5% of total loan amount
||₹1,00,000 to ₹15,00,000
||12 to 60 months
- 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
- EMI of ₹7091 per month
- Total payable amount in 3 years = 36 times ₹7091 = ₹2,55,276
- 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%)
- Age: 21-57 years old
- Net Monthly Income must be more than Rs. 18,000.
- No defaults in the last 24 months.
Documents Required after Digital Approval
- 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)
"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."
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...
"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."
"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"
"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"
"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"