Cash Loan in Mumbai
Cash Loan in Mumbai
The Fast paced and active lifestyle of Mumbai has attracted many companies from the country and abroad to set up their offices here, promoting employment. This along with the fact that Bollywood is one of the biggest employers here - employing both directly and indirectly as well as inspiring many more people to be a part of it. These new residents of Mumbai may not always be having strong finances to back their decisions, paving the way for an increase in demand for cash loans in Mumbai. Cash Loans are nothing but personal loans that come with fixed interest rates, and tenures ranging from 6 months to 60 months. So? Looking for a cash loan in Mumbai? Qbera is easily your best choice.
There are like n number of things that could go wrong or cause one to shell out more money. Immediate Cash Loans in India have emerged as lifesavers in such situations. The deficit, wherever and whatever can be managed with online personal loans. To name a few instances- you need to upgrade your education with say a certificate course- you can opt for an education personal loan. Sudden hospitalization demands paying huge medical bill- opt for a medical loan. Other than these you can simply take this cash loan in Mumbai to renovate or upgrade your home, finance your marriage or consolidate your debts.
Personal loan translated to high interest rate in most minds. However, with the new technology and ways to determine the credibility of an individual has paved the way to interest rates being as less as 11.99%. Rightly so, these are unsecured loans, without any type of collateral, so the creditworthiness is given much importance. CIBIL score determines one credit-worthiness through their various documents and data submitted to them periodically by banks and other financial institutions. But what if your CIBIL score is marginally low? Is there any solution? Well yes.
New age Fintech companies like Qbera use advanced algorithms and risk calculation tools to determine if a person is credible. CIBIL score alone is not the factor, other social and economic aspects are considered. The eligibility factors are:
- Salaried individual
- Net take home salary of Min Rs. 20,000/-
- Age bracket of 23-55
- CIBIL score of 575
- No payment defaults in last 24 months.
If you fit the eligibility, just log on the website and apply for a cash loan in Mumbai. The USP of fintech companies like Qbera is they process your loan request instantly, the turnaround period is as less as 24-48 hours provided the documentation is in order. Also, there are more than 7 lac companies who share their employee database with Qbera. So the loan approval probability is quite high. What are the documents needed?
- Aadhar card
- PAN Card
- Proof of address
- Salary and income documents
These are like the basic documents, you can just go online, check out the fine prints, submit your bank statement and after internal verification expect the amount in your bank account in as less as 24 hours.
- 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%.