Want a bank loan with your Aadhaar Card? Apply for personal finance from Qbera and get your amount disbursed to your bank account within 24-48 hours!
All lenders require you to submit your Aadhaar Card and PAN to process loan applications. If you're looking for a loan that you can get against your Aadhaar Card, well, you can definitely be eligible for one from Qbera if your minimum income is Rs. 20,000 per month and your credit score is 600.
Bank loan against Aadhar card is a super quick way to arrange for funds in case of an emergency. Unplanned financial shortfalls are difficult to manage, but you can temporarily use the money of an external entity to manage your requirements. This arrangement is called as a loan. The external entity like banks, NBFCs or private lenders gets an interest over the money that they have given out. The borrowers use the money to tide over the shortfall, thereby, making it a profitable situation for both the lender and the borrower.
The sheer number of rules and strict paperwork followed by banks often renders them unapproachable in case of need. But modern technology especially the introduction of Aadhar card as an identity document has helped save on labor and work. The lending market is seeing a rise in lending startups that have built a distinct reputation for disbursing fast loans, which is mostly thanks to Aadhar card and the biometric system. The bank, NBFCs and Fintech’s only need to access the e-KYC to get all the information needed. Fintech’s partner with banks to give out unsecured loans and their key features are:
Digital experience: The complete process of applying for an unsecured loan including the submission of necessary documents, checking of Aadhar card and bank statement is done online. Giving the user a total digital feel.
The entire process - from application submission for the personal loan, document verification and amount disbursal are completed within 24-48 hours.
Low income groups:
The low-income groups typically face more issues in getting an application through. Banks and NBFCs do not consider low income groups. Fintech’s advanced algorithms, however, do take their socio-economic preferences and calculates their willingness to pay. There is a high probability of loan approval by a fintech for a low-income applicant.
Low CIBIL score:
Unsecured loans are not secured by collaterals and so, the dependency on the CIBIL score of the applicant is high. Banks do not process applications where the score is less than 750. However, with Fintech’s involvement, applicants with a score of 575 and more are also considered.
||11.99% to 35.99%
|| 1% to 5% of total loan amount
||₹1,00,000 to ₹15,00,000
||12 to 60 months
"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."
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...
"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."
"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"
"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"
"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"