Personal Loan in Patna

If you are looking for instant loans in Patna, Qbera is the best choice for you. Instant Loans are unsecured loans, also commonly known as personal loans. Patna, as you know is the largest town in Bihar. This city is located on the southern bank of the River Ganga. Well connected by railway and road as well as being the educational center of Bihar has made the place a prominent hub for good jobs. 

Any kind of fiscal deficit can be easily managed with a personal loan online in Patna. The presence of Fintech company with lenient criteria and minimum paperwork has become a boon to individuals looking for a loan. It has helped many approach their money problem safely without shelling out being victims of high-interest rates. 

Personal Loans in Patna - Differences between Qbera and Traditional Banks

Features of Personal Loans in Patna

Economical ROI: The total payout to the lender at the end of the tenure is governed by the interest rate applied on the personal loan. A lower interest rate means lesser payout and hence better for the borrower. Qbera offers personal loans starting at 10.99% interest rate.

Long repayment tenure: The time period in which the loan should be repaid is called as the tenure. It has a massive impact on the monthly payouts as a longer term means lesser amount as EMI each month. Qbera Instant online loans in Patna have flexible repayment tenure that can span up to 5 years.

Digital Process: Being a Fintech company Qbera uses the perfect blend of technology with finance to makes these personal loans completely digital. The whole process of applying, uploading, verification, and disbursement is seamlessly done. If all the paperwork is up to date, one can expect the loan amount within 24 hours.

Unsecured loans: There is no need to pledge assets. The loan is expected to be repaid from salary and so a healthy income to debt ratio is preferred.

Minimum Documentation: There is minimal documentation requirement- Aadhar card, PAN card, Salary slips and income statements, bank statements, photographs and post-dated cheques from the salary account.

Things to keep in mind while applying for Personal Loans in Patna

• Instant online loans are undoubtedly an option when faced with a fiscal deficit but do consider these points while choosing the loan amount, tenure and interest rate.

• Monthly household budget: The presence of loan should not disrupt the home budget.

• All existing financial liability: All financial commitments must be considered.

• The income to debt ratio: An ideal ratio preferred by financiers is 40% and lower the ratio better the chances of loan approval.

• Interest rate applied and the total final pay-out: A higher interest rate means a bigger payout when the tenure ends and so it’s best to shop for lower ROI.

• Any lump-sum financial gains: Any increment in income can be considered while taking an instant online loan in Pune. Diverting such amounts towards loan repayment is beneficial.