Hyderabad has earned for itself a variety of monikers – The city of Nizams, the city of pearls and more recently the Hi-tech city. It is not uncommon to find youth in western attire and youths in traditional attire, battling the ever-increasing traffic in this historic city. The city has been expanding and there is a steady influx of new and young aspirants in this city. The city’s growth has been funded by various banks and NBFCs. The option of getting an Instant loan in Hyderabad has added to the charm of the city. Youngsters have the financial cushioning of personal loans to fall on.
Consider the situations where you have moved into the city but is looking for a home. You do find a lot of options however, there is lack of fund to pay a deposit. A sudden medical emergency is the new city has left you with a big medical bill to pay. Where does one turn to, the obvious answer is friends and family, what if they are not in a position to help? Banks and NBFC s are the next choice, but their documentation and checks do take a lot of time. Instant loans in Hyderabad from fintech companies like Qbera step in with instant eligibility checks and quick turnabout time to be the perfect solution in any financial difficulties. These loans are quick and paperless, you log on to their website, fill in the details and your eligibility is known in 2 mins. After submitting the bank documents through net banking and a few other internal checks, the amount is deposited directly into your bank account.
And the documents that needs to be given are:
- Aadhaar Card
- PAN Card
- Proof of address
- Salary and income documents
- Photographs
Also, there is no capping on the possibilities of an Instant personal loan. Unlike home loan or vehicle loan which has to be used to buy house or vehicle, you can use personal loans in n different ways. You can plan a long-awaited luxury vacation, renovate or upgrade your home, and fund your education or your marriage. You can use the amount from your instant loan and pay it off in easy and affordable EMI’s.
The Eligibility criteria are quite simple too. Where banks and NBFCs rely almost completely on your CIBIL score, Fintech companies like Qbera use advance risk assessment algorithms and consider your socio-economic dealing along with your CIBIL score to arrive at a decision. While a credit score of 750 and above is considered by banks, the fintech also considers marginally low scores as well. Also there are more than 7 lac companies that are registered in their database, so the probability of your loan being approved is high.
The minimum eligibility for an Instant loan in Hyderabad are-
• You must be a salaried individual
• You must have a min net salary of Rs.20 000/-
• You must be above 23 years of age and less than 55 years
• Minimum CIBIL score of 575 and no defaults in the last 24 months
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