For instant loans in Noida look to Qbera that offers superfast and easy access loans. The presence of credit in the economy is quite high with rampant inflation and changed lifestyle of the modern generation. There are many monetary needs that might arise when one seeks to settle down in an upcoming city. Independence is particularly valued by youngsters who prefer not to be dependent on family when faced with fiscal deficits. Instant loans from Qbera that do not require any kind of collateral or guarantor is the key to finance any such need. These are extremely flexible loans and are ideal to meet varied monetary requirements easily.
Instant Loans in Noida from Qbera - Difference between Qbera and Traditional Banks
Parameters
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Qbera
|
Banks
|
|---|
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Processing fee
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1% -5%
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2.25% of principal + GST
|
|
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 charges
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5% + GST
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5% + GST after a lock in period
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Features of an Instant loan in Noida
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An instant loan in Noida from Qbera does not require any kind of collateral. One doesn’t have to pledge asset or require a guarantor as the loan is approved based on the applicant’s salary.
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The CIBIL score is an important parameter while considering applications as it shows the credibility. Those with sub-prime score face immense difficulty in securing a loan. Qbera, however, does consider applications with a score of 600.
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The highly competitive interest rate starting at 10.99% is one the best in the industry that ensures that you do not shell out obscene amounts at the end of the loan term.
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The long repayment tenure spanning 5 years helps maintain the family budget
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An instant loan in Noida can put to varied uses. It can be used for any kinds of payments like marriage or education fee, home renovation, planning a vacation, consolidating debts etc.
How to secure manageable interest rate despite having low CIBIL score
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Low CIBIL makes your repayments capacity doubtful and so if you have documents to prove that you will be able to pay regular EMIs- do present them. Your stability at your company and job is also a contributing factor towards the stability of your tenure.
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If possible, you can apply for an instant loan in Noida along with a co-applicant or a guarantor. The better score of your spouse or co-applicant can be considered to ensure manageable interest rate.
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Discrepancies in your credit report can be the reason for a lower score. A lack of communication between the bureau and bank can be the reason for the same. So, a regular screening will go a long way in spotting these irregularities and taking corrective measures.
View a complete list of our FAQs at our
help center
Interest Rate & Other Charges
Interest Rate
|
11.99% to 35.99%
|
Processing Fee
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1% to 5% of total loan amount
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Loan Amount
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₹1,00,000 to ₹15,00,000
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Loan Tenure
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12 to 60 months
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Step 1: Online Application Form
Get approved instantly
Fill out our online application form by answering a few questions about yourself, your employment, your education, expenses and needs. This process would take no longer than 10 minutes.
Step 2: Connect bank account
Submit your bank statements
Connect securely to your bank via netbanking and submit bank statements as part of the easy loan application form. Alternatively, you can upload bank generated pdf bank statements.
Step 3: Loan term
Choose your Loan Term
Using our proprietary Credit Scoring Algorithm we determine your loan eligibility in real-time. Our algorithm uses the information about you, to determine your future potential and help you get the best rate instantly.
Example: A
loan offer of
₹2 lac, for a
tenure of
3 years at an
interest Rate of
16.6% (on a reducing principal) and a
processing fee of
2.5%.
Translates to:
- 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%)
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