Get Private Personal Loans online in Chennai
Private Loan in Chennai
The gateway to south India, Chennai, is one of the biggest cultural, educational and economic centers. It is also the fourth most populous agglomeration in India. This directly translates to the presence of a large number of households here from all parts of the country. Tidel Park, one of the largest IT Parks in Asia is situated here, the presence of young IT professionals here just cannot be wished away. The various needs and aspirations of the urban young sometimes cannot be met by the salary alone. Rising inflation and high living standards have ensured that they hardly have access to emergency funds. Private loans in Chennai are helping such young households make ends meet.
In case of unforeseen circumstances, instant personal loans have emerged as the best financial support system for the young urban households. The fast disbursal cash loans in Chennai are quick, easy and hassle-free. Qbera, a leading Fintech company for instance, will inform you about your loan eligibility in 2 mins. The documentation and validations are all done online with minimum paperwork. After the completion of all checks, the amount is deposited directly into your bank account in 24-48 hours. The eligibility for a private loan in Chennai are:
- You must be a salaried individual.
- You must have a min net salary of Rs.20 000/- per month.
- You must be above 23 years of age and less than 55 years
- A minimum CIBIL score of 575 and no defaults in the last 24 months
The CIBIL score plays an important part in defining the loan eligibility of an individual and the interest rate that is being offered. So, with Fintechs who are cash loan lenders in Chennai, even if the CIBIL score is marginally less, the personal loan application is processed. The rate of interest, however, will be on the higher side. These Fintech companies also offer the benefit of flexible repayment tenures, from 6 months to 60 months. Accordingly, the applicant can choose a private loan in Chennai with an affordable rate of interest and tenure so that the monthly budget is managed.
The loan amount is directly disbursed to the applicant’s bank account and there is no restriction on the end-usage. The applicant can use the amount to pay for medical bills or carry out extensive repairs and renovations to his house. He can also finance his marriage, education or simply use the amount to consolidate his debts. If he so wishes, he can use the amount to go on a vacation as well. These instant personal loans are truly multi-dimensional. There is minimal paperwork which is required once the loan amount is approved. The documents needed are:
- Aadhaar Card
- PAN Card
- Proof of address
- Salary and income documents
- Bank statements for the last 3 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%)
- You must be a Salaried Employee
- Age: 23-55 years old
- Net Monthly Income must be more than Rs. 20,000.
- No defaults in the last 24 months.
- You must be residing in Delhi/NCR, Bangalore, Pune, Chennai, Mumbai or Hyderabad.
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"
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