Online Paperless Loan

It is said that the small joys of life are what contribute to the overall sense of happiness for an individual. Being able to afford small luxuries like being able to buy the latest gadget, going on that long-awaited holiday, renovating and upgrading your home, or buying your own vehicle can have a profound impact on the overall happiness quotient. But many a time, the paycheck alone is not able to help you get these and during those times, online paperless loans can be your best bet.

What are online paperless loans?

These types of loans are instant loans that are given out by financial institutions like banks and Fintech companies. True to their name, these instant online loans are instantly processed and disbursed, for example, the one from Qbera is credited to your bank account within 48 hours of successful document verification. These loans are unsecured and so there is no requirement for any kind of collateral.

Features of Qbera instant online loans

• Digital experience as the entire process is completely digitized from application submission to amount disbursal.
• Quick turnaround period of 24-48 hours after document verification is another highlight of Qbera instant online loans.
• Applications from individuals in the low-income group that is usually not preferred by banks are contemplated.
• Individuals staying in shared accommodation and persons with marginally low CIBIL score are also considered.

Eligibility conditions for an Instant online loan

• The applicant must be salaried-
• These loans are given to salaried individuals without any collateral being pledged. So, the employment tenure and the income to loan ratio is thoroughly checked.
• The applicant must have a net salary of Rs 18 000-
• To ensure timely repayment of loan a minimum salary of Rs 18,000 is considered. Banks usually do not fund personal loans for individuals in the low-income group. This is where Qbera instant online loan is coming to the help.
• The applicant should be in age group of 23-55 years
• Applicants in this age group are better equipped to make proper use of the long tenure provided. Qbera, for example, offers you a repayment tenure that spans from 6 months to 60 months.
• The applicant must have a CIBIL score of 600
• Banks and NBFC s consider a score of 750 and above while giving out loans. There are numerous factors that affect this score and so fintech companies place more importance on their advanced algorithms that use social and economic leanings and so gives an extra leverage to its customers by considering marginally lower scores as well.

How to apply for a personal loan?

• Fill out the personal and employment details on the online application form available at www.qbera.com
• Submit the bank statement that reflects salary credit and other supporting documents online.
• Qbera sends a personalized loan quote
• After receiving the email acceptance of the quote and the submission of some physical documents that undergo another round of verification, the loan amount is credited to the bank account within 24-48 hours.