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Personal Loan in Bangalore

Qbera Personal Finance!
Choose your employment status to find the Qbera Loan that’s best for you!
I am Salaried (I currently work for a Private Ltd, Public Ltd, Govt., LLP)
I am Salaried (I currently work for a Proprietorship, Partnership Firm)
I am Self Employed (I have my own business)
I am Currently Not Employed
Loan amounts range from Rs.1,00,000 to Rs.15,00,000. APR ranges from 11.99% to 35.99%. Loan lengths range from 12 to 60 months. Administration fee ranges from 1% to 5%.


Personal Loans in Bangalore

Now get super-fast personal loans in Bangalore from Qbera with a minimum net monthly income of just Rs. 20,000 per month. Apply today and get instant loan approval! Hurry!

Bengaluru (also known as Bangalore) is the capital city of Karnataka and is home to many top educational and research institutions in India. Bengaluru is the national leading IT exporter because of which it is also referred to as the "Silicon Valley of India". Qbera, with its headquarters in Bengaluru, extends unsecured personal loans in Bangalore to salaried individuals earning Rs. 20,000 a month.

A personal loan in Bangalore is an unsecured credit for which you need not submit any collaterals. With the advent of new technologies used by financial institutions like banks, NBFCs and Fintech companies, it is easier now to get an instant loan in Bangalore. Qbera is a Fintech company that aims to provide financial aid to those individuals who get rejected by other lenders for inordinate reasons such as residing in PG, low credit score or low income.

Benefits of an Instant Personal Loan in Bangalore from Qbera

Here are some of the advantages that you can enjoy from an instant personal loan in Bangalore:

1. Collateral-free

Qbera provides instant personal loans which are unsecured. This means you don't have to put up your assets or properties to secure the loan.

2. Multipurpose

People apply for a personal loan in Bangalore to buy expensive gifts, furniture, jewellery, second-hand car etc. but the major reasons include the following:

  • Marriage
  • Holiday
  • House renovation
  • Medical emergency

3. Flexible loan tenure

Qbera offers the ease of paying back the loan by providing a flexible loan tenure. Depending upon your monthly income and savings plan, you can choose a suitable loan period ranging from 6 to 60 months.

4. Online repayments

Qbera allows its customer to make the EMI payments via NACH mandate. Using this NACH mandate, a borrower can choose the auto-debit of EMIs option to make monthly repayments of the personal loan.

5. Online EMI calculation

Qbera offers online EMI calculator to calculate your EMI in few seconds. You just need to feed the values of your monthly income and current EMIs (in case you are paying any). You can toggle between the loan tenure and EMIs to get affordable options of EMI.

6. Low credit score? Not a problem

In the past, if you have been rejected by other lenders based on your low credit score, you need not worry! Qbera has got your back. You are eligible for an instant personal loan with a credit score of 600 as well.

How to get an Instant Personal Loan in Bangalore?

Qbera is one of the leading online marketplaces that specializes in providing unsecured loans to those who need it the most. The best thing about personal loans is that they can be used for any purpose in our lives. Especially for situations when we need immediate funds. Whether it is for a wedding that is scheduled in the next 2 months, or a holiday plan with our family, a personal loan is capable of handling all the expenses. People nowadays find it easier to apply for instant loans online to save time from their busy professional routine. Also, because it is convenient and requires least human intervention.

The loan application for Qbera personal loan in Bangalore completes in 4 simple steps. Those are:

1. Login to Qbera.com. Click on the "Apply Now" tab on the top right corner of the page. You will be directed to the application page. The first step includes your personal information, employment details, income, monthly repayments etc.

2. Choose an amount between Rs. 1 Lakh and Rs. 10 lakh. This will depend on your monthly income and repayment capacity.

3. Upload the relevant documents and get them verified online.

4. Expect the loan amount to be disbursed to your bank account within 24-48 hours.

5. The amount will reach your bank account within a period of 24 hours.

Tips to improve your approval chances for Personal loans in Bangalore

Maintaining a high credit score is extremely essential for a lot of reasons. A good credit score will essentially mean that lenders will love to offer you credit. To begin, your credit score is a number obtained from your credit report, and lenders use your credit score to evaluate how you’ve managed your credit in the past. Your credit score will range from 300 to 900 unless you don’t have a credit history (in cases where you haven’t subscribed to a credit product before). A score of above 800 is often considered excellent, and anything below 600 is considered poor. Your score will ultimately determine your eligibility, your sanctioned amount, and the interest rate you’re offered on your loan. Let’s look at some noteworthy tips to keep your credit score high and improve your chances of approval for instant personal loans in Bangalore.

Check your total outstanding credit balance:

If you have active credit cards or personal loans, make sure you don’t max your credit card and have high loan amounts. Lenders will look at your total outstanding credit balance in correspondence with your income. If you owe too much on multiple credit cards and personal loans, you’re mostly likely to get rejected.

Use prudent debt-elimination strategies such as the stack method or the snowball method. Both these techniques are proven to be effective. Steadily eliminating one debt source at a time will help rebuild your credit score (if your credit score has been impacted) and improve your chances for approval on personal loans in Bangalore and other cities in India. In this regard, it is helpful to note that applying with Fintech lending companies like Qbera is almost certain to help you get your application approved even though you’ve been rejected by banks and other lenders. Owing to an alternative scoring model and flexible underwriting norms, you can get your loan approved even with a sub-prime credit score. In relevance to this, Fintech lenders use advanced risk-assessment algorithms that look at various factors including your social standing, type of residence, area of residence, employment stability etc. while examining your profile.

Prioritize your debt payments and avoid making late payments:

Late payments can seriously impact your credit score – late payments on credit cards, personal loans or any other credit product can have a severe impact. As a matter of fact, paying your credit card dues late has a lesser impact on your credit score than paying late on your home loan EMI. Whatever be the case, it is best suggested to avoid making late payments.

Check your credit report at least once in 6 months

Checking your credit score often will help you know your outstanding credit balances, and if there are any errors in your report, you can get it rectified. Sometimes, due to false information sent in by lenders, you might have pending outstanding balances even though you would’ve made your payment. Look at these issues closely and rectify any errors that may be present in your credit report to prevent your CIBIL score from being impacted needlessly.

Make sure you are salaried and employed for at least 6 months

Most Fintech lenders offering personal loans in Bangalore or other cities in India require you to be salaried – self-employed individuals can also apply for loans, but it is mostly banks that approve credit for self-employed individuals. Also, you’ll be required to meet a minimum income criterion (this usually varies from one lender to another) – applications that don’t meet the minimum income eligibility criterion as specified by the lender will often be met with rejection.

Coming to the duration of employment to qualify for instant loans in Bangalore, most lenders expect that you be employed for at least 6 months to be eligible for credit. If you apply with a bank on the other hand, you’ll be expected to have a minimum employment experience of at least 1 year to qualify or credit in India. Some Fintech lenders offer credit even to individuals who are employed for a period 3 months. However, individuals in such case will be required to meet a minimum income criterion specified by the lender.

Make sure the information contained on your documents are accurate

When you apply for finance in Bangalore from Fintech lending companies, it is important that you make sure the information in your documents are consistent with the information you’ve provided. Any inconsistencies will result in your application being rejected, causing your credit score to go down as well in the process. If you didn’t know it already, rejections have quite a detrimental impact on your credit score, and instances of rejection in your credit report will prompt lenders in future to reject your loan application as well.

Why are Instant Personal Loans in Bangalore better than credit cards these days?

You might wonder (considering the popularity of the “instant loan” product) why there are opinions about these products being better than credit cards. Well, they certainly are, for a lot of reasons. Credit cards certainly have the advantage thanks to their interest-free period that they offer. Although this is true, instant loans in Bangalore from Fintechs are becoming more popular than credit cards. Let’s look at why this has happened, and whether or not this is actually true.

Instant Loans in Bangalore vs Credit Cards – prime differences and comparison

Interest rate on Personal Loans in Bangalore: The rate of interest on these loans usually falls in the range between 11% p.a. and 25% p.a. If you compare the rate on credit cards, you’d be in for quite a shock – interest rates on credit cards start from 30% p.a. (minimum). If you miss paying your total outstanding amount before the interest-free period, you’ll be down for heavy interest. Cash withdrawals are risky on credit cards too, mostly because of the high compounding interest rate that they carry.

Turnaround time: You can get an instant cash loan in Bangalore within 1 hour if you choose a lender like Qbera. By contrast, credit cards, after you receive approval, will take at least 7-8 business days to reach your registered mailing address.

sLoan amount vs credit limit: This is another area where instant credit from Fintechs have the edge – the maximum loan amount that you can be offered is usually higher than the maximum credit limit a bank can offer you on your credit card. These loans also work perfectly if you wish to consolidate your credit card debt – some lenders allow you to consolidate debt from multiple credit cards and repay through flexible tenures stretching up to 5 years, at interest rates that are 1/3rd of the prevalent rates on credit cards.

Have a mid-level income? Instant cash loans can be your perfect answer: Fintech lenders offer instant personal loans in Bangalore to individuals who have income levels starting from Rs. 15,000 per month. For credit cards however, most banks have a minimum income eligibility criterion of at least Rs. 25,000 per month. Qbera offers instant credit to individuals with a minimum net monthly income of Rs. 20,000 per month.

These above points clearly evince why a personal loan in Bangalore from a Fintech lending company is the best choice when you are in need of funds, while also clearly showing how this form of credit is better than credit cards in multiple ways.

Bengaluru (also known as Bangalore) is the capital city of Karnataka and is home to many top educational and research institutions in India. Bengaluru is the national leading IT exporter because of which it is also referred to as the "Silicon Valley of India". Qbera, with its headquarters in Bengaluru, extends unsecured personal loans in Bangalore to salaried individuals earning Rs. 20,000 a month.

A personal loan in Bangalore is an unsecured credit for which you need not submit any collaterals. With the advent of new technologies used by financial institutions like banks, NBFCs and fintech companies, it is easier now to get an instant loan in Bangalore. Qbera is a Fintech company that aims to provide financial aid to those individuals who get rejected by other lenders for inordinate reasons such as residing in PG, low credit score or low income.

Documents and Eligibility for Personal Loans in Bangalore from Qbera

Well, it is a widely known fact that the eligibility criteria are different for different lenders - they basically vary from one lender to another. There is a lot of difference between eligibility criteria commanded by banks and Fintech lenders. Banks are understood to have more stringent eligibility parameters that consumers are expected to meet. For instance, if we take a look at the credit score requirement, banks require applicants to have a minimum credit score of 750, whereas Qbera offers personal loans in 900+ Indian cities to individuals with lower-than-prime credit scores. The minimum credit score required to apply for a personal loan from Qbera is 600. Let's take a look at the documents required, and the eligibility criteria for personal loans from Qbera.

Documents:

  • Aadhaar Card
  • PAN Card
  • Salary slips for the last 3 months
  • Bank statements for the last 6 months
  • Cheque leaves from your salary account

Eligibility for personal loans in Bangalore:

  • A minimum credit score of 600.
  • A Minimum income of Rs.20,000 per month.
  • A Minimum employment experience of 6 months.
  • Age: 23 years to 55 years of age.

Note that all documents can be uploaded online thanks to Qbera's paperless and presence-less process. Bank statements can be submitted online through your internet banking credentials. Qbera uses Perfios, a 3rd party web platform to retrieve your bank statements. It takes only a few seconds for you to complete the process.

Loan amounts and tenures for Personal Loans in Bangalore from Qbera

Well, there are many Fintech lenders offering loan amounts starting from as low as Rs. 5,000. It is best to pick the right lender depending on your requirement. Qbera offers immediate cash loans in India ranging from Rs. 1,00,000 to Rs. 15,00,000. The tenures for these loans in Bangalore from Qbera start from 1 year, and go on up to 5 years. 

1. What is the loan tenure that I will get to pay for a Personal Loan from Qbera?

Qbera allows you to pay within a flexible period of 12 to 60 months. Depending upon your monthly income and repayment capacity, you can go for a shorter period of, say 6 to 36 months, by paying high EMIs. Or you can choose to pay low EMIs without stress.

2. Can I get a low EMI for my personal loan in Bangalore?

Yes, Qbera offers one of the lowest EMIs, starting at Rs. 2700, through which you can easily pay back every month without any financial pressure.

3. What is the maximum loan amount that I can get through a Qbera personal loan in Bangalore?

Qbera provides loan amount starting from Rs. 1,00,000 to Rs. 10 lakh to serve you in your hour of financial need. 

4. Can I do part-payment for my personal loan in Bangalore?

We do not allow part-payments. However, you can prepay your loan after completing 1 year of repayment. (Foreclosure charges: 5% + GST applicable).

5. In how much time will Qbera respond after I apply for a personal loan online?

Qbera features one of the lowest turnaround-times. Our technology allows us to disburse the approved loan amount within 24-48 hours.


 

Interest Rate & Other Charges


Interest Rate
11.99% to 35.99%
Processing Fee
1% to 5% of total loan amount
Loan Amount
₹1,00,000 to ₹15,00,000
Loan Tenure
12 to 60 months
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Getting a Qbera Smart Loan is Simple
Fill out our online application form
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.
Connect your Bank Account
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.
Select your loan term
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.
You’re done! Get the money in your Bank Account as early as tomorrow.
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:
  1. 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
  2. EMI of ₹7091 per month
  3. Total payable amount in 3 years = 36 times ₹7091 = ₹2,55,276
  4. 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%)
Repaying a Qbera Smart Loan is just as Simple
Repay your loan with automatic EMI payments.
  • Age: 21-57 years old
  • Net Monthly Income must be more than Rs. 18,000.
  • No defaults in the last 24 months.
  • Aadhaar Card
  • PAN Card
  • 4 Cheques from your Salary Account
  • Current Address Proof
  • Permanent Address Proof (in case the permanent address is different from the address on Aadhaar card)
Pradeep

Pradeep

"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."

Shekhar

Shekhar

"I would like to thank Qbera for speedy loan processing. I was having a tough time in deciding which bank would actually take my request for a loan as the loan was supposed to be for credit card payoff. I was forced to use my credit card for an unforeseen expense which I could not avoid and was finding it tough to pay back due to the high interest cost on credit cards. 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...

Syed

Syed

"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."

Anish

Anish

"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"

Arun

Arun

"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"

Bhaskar

Bhaskar

"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"

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QBERA

We are a Bangalore-based company offering digital, quick, hassle-free personal loans to people when they need them.

Loan amounts range from Rs.1,00,000 to Rs.15,00,000. APR ranges from 11.99% to 35.99%. Loan lengths range from 12 to 60 months. Administration fee ranges from 1% to 5%.

* Subject to Risk Profile

Need Help?
Contact our support team via WhatsApp by clicking below:
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E-mail: contact@qbera.com
Phone: 1800 4198 121
Whatsapp:+91 99160 88896
Address:
2nd Floor, Featherlite Vista Building,
MV Jayaram Road,
1st Main, Vasanth Nagar.
Bangalore 560 052

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