Cash Loan Against Cheque in Delhi
Cash Loan Against Cheque in Delhi
The capital city of Delhi is a unique mixture of old and mystical with the new and innovative. Old Delhi retains the old world feel with busy roads that snake around the old walled city built by Mughal emperor Shahjahan, while Lutyens Delhi is all about wide roads and beautiful gardens. The latest in technology syncs in pace with the old relics of an era gone by. Being the national capital has boosted the growth of this tiny union territory. To make up for the lack of space, the national capital regions of Noida and Gurgaon has stepped in with their share of hi-tech IT companies and the whole bouquet that comes with technology.
But if you are faced with financial shortage for your business or personal need who do you turn to here? Is it wise to opt for cash loan against cheque in Delhi? Cash loans are quick hard cash that are loaned out to individuals without any credit check or bank involved. These loans are given out against a cheque usually by private lenders in the traditional lending market set up. Although you do get access to instant money, there might be improper documentation and high interest rates that may put you in serious debt.
Taking a personal loan from banks and NBFCs are the best way to tide over financial shortfalls. However, incase of emergency, Banks and NBFC s do take time to disburse the loan. They also have stringent parameters that may not allow you to get the desired amount on time. A loan from a Fintech company like Qbera is the best solution when in urgent need rather than a cash loan against cheque in Delhi.
Qbera gives out instant personal loans to salaried individuals with a net take home salary of Rs. 20 000 per month. They look at CIBIL score, however, a marginally low score of 575 is also considered. This is made possible with the advances algorithms used by them that calculates the individuals credit worthiness based on the socio-economic preferences and willingness to pay. The age group preferred is 23-55 and the loan tenure ranges from 6 months to 60 months. These cash loans are quite flexible and can be used any way you wish. Be it to finance the marriage, education, second-hand car or medical bills. It can be used to upgrade and renovate your home or go on a dreamy vacation. It can also be used to simply consolidate your debt.
Some documentation is also required. Although, most of the process is online, the application and bank statements can be submitted online using secured net banking. A few physical documents like PAN card and Aadhar card as well as post-dated cheque from your salary account are to be presented. Its easier for the financial company to recover the amount in case of non- payment after presenting the cheque, which is why cheque is still a part of the loan documentation.
- 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"
Following a Supreme Court Order dated 13th March, 2018, Insurance regulator IRDAI extended the deadline for linking the 12-digit unique identity number with various insurance policies.
A day after SBI hiked deposit rates across maturities, the largest lender of India also raised MCLR by up to 25 basis points. MCLR is now at 8.15 percent which was earlier at 7.95 percent. This signals a possible increase in the EMIs of all types of loans – starting from personal loans to home, auto and other loans. ICICI Bank and Punjab National Bank (PNB) also hiked their MCLR by 15 bps. PNB home loans will now be at 8.6% and for women it will be 8.55%.