A quick cash loan in Mumbai from Qbera comes with flexible repayment tenures starting from 6 months, stretching up to 60 months. You can use the amount to plan your wedding, pay for medical treatment, go on a vacation, renovate your home, purchase a second-hand vehicle - anything that you desire. Loan amounts range from Rs. 1,00,000 and go up to Rs. 25,00,000.
Features and benefits of quick cash loans in Mumbai from Qbera
Applying for a quick cash loan from Qbera comes with a host of exciting benefits. Let's take a look at some notable features and benefits associated with Qbera's personal loan product:
Disbursal within 24-48 hours: This is a standout feature, and not commonly associated with lenders offering personal loans to salaried or self-employed individuals. If you look at banks that are known to offer the best interest rates in the market, they take at least 7-8 working days to process your application and disburse your loan amount. Qbera, however, uses an advanced risk-evaluation algorithm to assess applications, provides instant loan approval, and disburses loan amounts within 24-48 hours.
Easy and convenient documentation: The documentation involved is extremely easy and can be completed in just a few minutes. All documents can be uploaded online, including salary documents and bank statements (reflecting salary credits). Applicants are required to submit their bank statements for the last 3 months. This implies that an individual has to employed for a minimum period of 3 months with his/her present employer in order to be eligible for a personal loan in Mumbai from Qbera. Bank statements can be submitted through a secure channel. An executive will visit the applicant to collect physical copies of an individual's KYC documents, cheque leaves from the salary account, and passport sized photographs.
Loans for individuals with lower-than-prime credit scores: The minimum credit score to be eligible to apply for personal loans from Qbera is 600. Most top lenders in the market demand that individuals meet a minimum credit score criterion of 700-750 in order to be eligible.
Quick Cash Loan in Mumbai for employees of uncategorized companies and those residing in shared accommodations: While top private banks are most likely to reject applicants if their employer isn't listed or their type of residence is listed as "shared", Qbera does not reject applicants based on these parameters alone. Qbera's advanced risk evaluation algorithm assesses a wide range of parameters before approving an applicant.
Quick Cash Loan in Mumbai - Comparison of Fees and Charges
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Parameters
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Qbera
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Banks
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Processing fee
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1% -5%
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2.25% of principal + GST
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Interest rate
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Starting at 10.99%
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Starting at 11.99%
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Credit Score required
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600 and above
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750 and above
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Loan amount
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Up to Rs 25 00 000
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Up to Rs 15 00 000
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Minimum age required
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23 years
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21 years
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Pre-closure charge
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5% + GST
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5% + GST after a minimum lock-in period
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