Mumbai is the financial capital of India since ancient times and even in the present economic scenario, the importance of the city has not diminished. This is evident from the ever-increasing workforce here. The commercial capital of India has a long history and a special relation with private individual lenders who have helped fund individuals and businesses at their time of need. Having said that, the young individuals today are wary of taking a private loan in Mumbai from them due to the obvious lack of transparency.
Banks and NBFC have a good deal of paperwork, checks and criteria which instils a sense of dread and are considered as the last option in case of emergencies. Fintech companies like Qbera have stepped up in this realm and promise quick turnaround time and fast disbursals. This simply put means that the new households and individuals need not worry about funds in case of emergencies. A sudden illness requiring hospitalization, funds to organize a dream wedding or simply to take a long-awaited vacation, all of these and more can be financed with a private loan in Mumbai.
What are private loans?
Private loans are nothing but instant personal loans that require no collateral and with no conditions attached to their end usage. Being unsecured loans, these fall in the high risk category. Fintech companies with their advanced algorithms and risk assessment models are able to cater to this category with minimal paperwork. Qbera offers its borrowers an unprecedented experience like the paperless application for a quick personal loan, instant lending decisions, digital verification of income and employment, and loan disbursal in 24-48 hours.
The CIBIL score is another important factor that plays a vital role in determining your eligibility for a private loan in Mumbai. Most banks prefer a score of 750 and above but what if your score is a little lower than that. It is quite possible that your score is marginally less and you require immediate funds. Well, Fintech companies do consider private loan applications with CIBIL score as less as 575.The rate of interest, however will differ. The company also offers you the benefit of a long repayment tenure, from 6 months- 60 months. Accordingly, you can choose a personal loan with an affordable rate of interest and an appropriate tenure so that your monthly budget doesn’t go haywire.
The eligibility for a private loan in Mumbai are-
And the documents that need to be given are:
||11.99% to 35.99%
|| 1% to 5% of total loan amount
||₹1,00,000 to ₹15,00,000
||12 to 60 months
"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%.