If you're looking to get an immediate cash loan in Bhopal, choose Qbera to up your chances of approval and get a fair rate of interest, starting from 11.99% p.a. Qbera's instant product will reach your bank account in 24 hours. Minimum income required to apply for credit from Qbera is Rs. 20,000 per month (net monthly income).
Personal Loans in Bhopal from Qbera
The capital of Madhya Pradesh, Bhopal, is a Y-class city, best known for its scenic and picturesque natural settings. Often touted to be the city of lakes, it is the 17th biggest city of our nation and 131st biggest city across the globe. Like many other rapidly developing Indian cities, Bhopal too houses several educational and research-based institutions, namely the Master Control Facility of ISRO, the headquarters of BHEL, and the main office of AMPRI. The city also has the biggest numbers of institutes that are of national importance; IISER, IIT, and AIIMs to name a few. So, as you’d naturally assume, the city has a fast-paced lifestyle and the people here are always willing to test their boundaries. Since fast-paced lifestyle automatically translates to more dealings in finances, a significant chunk of people in Bhopal opt for loans. And this is where a Fintech lending platform comes into picture. Yes, the majority of the masses in this city are slowly and steadily moving towards digital, paperless loans, owing to their simple, easy and hassle-free operations. This is all the more relevant for a personal loan in Bhopal.
But why this sudden shift? Why are people suddenly opting for digital platforms over banks? Well, the idea is simple: banks take days (or even weeks) to sanction and finally disburse a loan. But since these digital lending platforms have a special algorithm, they get things done faster. To put it in the simplest terms, getting a personal loan in Bhopal is way simpler with a digital lending platform. But with so many platforms out there, how do you know which one makes the cut? Well, while you may always have your options, Qbera stands an edge ahead of others. But what is Qbera and how is it better? Let’s find out!
Why Choose Qbera for a Personal Loan in Bhopal?
|
Qbera
|
Banks
|
|
You can qualify for a loan with a credit score of 600.
|
You need a credit score of at least 700 to qualify for a loan.
|
|
Interest rates start from 10.99% p.a.
|
Interest rates start from 11.99% per annum.
|
|
Quick disbursal within 24 hours.
|
Disbursal might take 5 to 7 days.
|
|
Minimum documentation required.
|
You need to send in plenty of official documents as and when required by the bank.
|
|
Apply for a loan from the comfort of your home.
|
May have to visit the physical branch of the bank to complete the application process.
|
Benefits of Qbera's Instant Personal Loans in Bhopal
- Simple Application Process- The application process for a Qbera loan is incredibly simple. All you need to do is upload your documents, bank statements and a couple of basic details to get started with the process.
- Quick disbursal- While banks take around 5 to 7 days to disburse a loan, Qbera simplifies your hassle by getting things done in a couple of hours. Your application is reviewed quickly, and the amount too is disbursed in your required timeframe.
- Complete confidentiality- As opposed to other lending platforms that divulge your personal information to third party lenders, Qbera keeps your details completely confidential. We do not share your personal details with anyone, thereby ensuring that you get your loan in a safe and hassle-free way.
View a complete list of our FAQs at our
help center
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
|
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%)
About Qbera
Partner with Qbera
Press
Reviews
Call Back Request
