Get super-quick personal loans in Lucknow! Thanks to Qbera, the loan landscape has undergone significant transformation, with individuals being able to get access to easy and convenient access to credit. Qbera offers instant personal loans in Bangalore, Lucknow and other cities in India for individuals who are salaried and have a minimum net monthly income of Rs. 20,000 per month. Choose Qbera and repay your loan through flexible repayment tenures.
Personal Loans in Lucknow - Here is everything you need to know
The capital and the largest city in the state of Uttar Pradesh is also home to many IT companies as well as industries such as aeronautics, automotive, machine tools etc. Many have made this city their home and in situations that require immediate funds may look at banks for finance. Banks invariably owing to their strict rules and criteria cannot make these loans available instantly. Fintechs, on the other hand, can provide quick personal loans in Lucknow within 24-48 hours of a successful verification.
Fintechs like Qbera use the best in technology and finance to make personal loans accessible as well as easy to avail. The city of Nawabs can surely benefit from a variety of easy personal loan options made available by Qbera.
Personal Loan in Lucknow - Qbera vs Private Banks
Particulars
|
Qbera
|
Private Banks
|
|---|
|
Processing fee
|
1% -4%
|
2.25% of principal + GST
|
|
Interest rate
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Starting at 10.99%
|
Starting at 10.99%
|
|
Credit Score required
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600 and above
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750 and above
|
|
Minimum income
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Rs. 20,000 per month (net monthly)
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Rs. 30,000 and above per month (for most top banks in the market)
|
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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 Easy Personal Loans in Lucknow from Lucknow
- Multifaceted: This easy personal loan is highly flexible. Marriage costs or higher education, an exotic vacation, home renovations or even debt consolidation can be easily managed with it. You can choose what you want to do with the money as the end use is not specified by the lender. So, the use of the amount sanctioned is completely up to the borrower.
- Easy Application and approvals: The application process is extremely simple and completely digital. The loan status is communicated to the applicant instantly and all the documentation and verifications are done online.
- No Collateral required: These are unsecured loans that do not require any kind of collateral or guarantor. Your personal assets need not be pledged with the lender unlike the scenario with a traditional lender.
- Flexible loan tenure & interest rate: The loan tenure ranges from 12 to 60 months along with an attractive interest rate ranging from 10.99%. This means that you can select a loan tenure that does not burden your monthly budget.
- Individuals in shared accommodation: individuals in shared accommodation or staying as paying guest especially in cities – away from their villages and families face immense difficulty in getting a loan. Their loan requests are often rejected as they cannot prove their stability. Qbera s risk assessing algorithm can give a better credit report and so such applications are considered.
Things to keep in mind while applying for a Quick Personal Loan in Lucknow
Before taking an easy personal loan in Lucknow, do remember that consistent and prompt repayments are preemptive. Failure to do so can severely impact credit scores. Careful requirement analysis is suggested.
- It is easy access to money, and one might be tempted to take an extra amount. This is highly discouraged as it has to be repaid along with an interest within a timeframe. It might become a long-term liability – if proper consideration is not there.
- Scrutinize the eligibility criteria carefully to ascertain if you qualify. These conditions form the first level of application consideration.
- Choose the right lender in order to improve your chances of approval and avoid rejection from lenders with stringent eligibility criteria.
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
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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
|
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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