Instant Loan in Mumbai

Mumbai- the financial and commercial capital of India is one of the busiest and expensive cities in the country. It has been and continues to remain the favorite place for many- from Bollywood aspirants to startups to multinational players. Of late, a rather new credit product has emerged in the market - the instant loan in Mumbai, and Fintech lenders like Qbera are offering them. It's definitely not new that there is a definite need for instant loans in Mumbai. Being the financial capital, it has its advantages as the majority of banks and NBFC s are either headquartered here or have a branch. This brings out many financing options for the Mumbai-walas. There is also a healthy demand for instant personal loans here, which are provided by almost all financial institutions.  Online personal loans have become the most sought-after solution for instant cash needs. The city life requires instant cash and often one finds themselves in situations where there is a deficit.

Sudden hospitalization, a need to renovate or decorate your home, financing your marriage or education or consolidation of credit card debts any of these can be managed by an instant loan in Mumbai. Banks and NBFC s do take about a week or more to sanction such loans. And being unsecured loans the credit score of an individual also becomes quite important.

So, does that mean that if a person’s credit score is less than ideal then he can’t avail instant personal loan??

Nope, this is where Fintech companies have come in and changed the game. Fintech companies like Qbera do give loans to people with less credit scores and they do it instantly as well. So Instant personal loans in Mumbai can actually reach your bank account in as less as 24-48 hours and your eligibility is determined in 10 mins time.

Eligibility checklist

• Salaried
• Net take home of Rs. 20,000 and above
• Age group of 23-55 years
• No defaults in the last 24 months.
• CIBIL score of 575

Fintech companies use modern digital algorithms to determine the creditworthiness of an individual. Advancements in this area have allowed them to be able to determine your personal loan creditworthiness in minutes. Also, the whole process is completely digitized. All you need is a computer and internet connection. The online loan application just needs to be filled, documents and bank statements submitted online and after further document collection by company executives and internal verification criterions are met, you can expect the amount in your bank account within 24 hours.

 Another advantage of choosing Qbera is that many a time, banks or NBFCs reject an application as the applicant’s company is not listed with them. 

Qbera has an exhaustive list of more than 9 lakh companies and so you can be rest assured.