Finance Personal Loan
Aditya Birla Finance Personal Loan
Aditya Birla Finance Limited
Aditya Birla Finance Limited (ABFL) is one of the top 5 private NBFCs. It provides end-to-end financial services to customers across India. Aditya Birla was found in 1986 in Worli, Mumbai. And was formerly known as Birla Global Finance Limited. ABFL provides tailor-made financial services in the field of:
- Corporate finance
- Capital market lending
- Structured finance
- Personal and business loans
- Debt capital markets
Aditya Birla Personal Loan
Aditya Birla offers a multipurpose personal loan to salaried individuals. It provides instant money for reasons such as:
- Home improvement
- School fees
Aditya Birla provides loan up to Rs. 20 lakhs without any collaterals. Salaried individuals in the age group of 23 to 55 years can apply for the loan. Aditya Birla Group doesn’t charge any processing fee to its existing group members. You can successfully apply for a personal loan with Aditya Birla through Qbera.com. Enjoy faster approval with a good credit score.
Why should you go to Qbera for Aditya Birla Personal Loan
Quick loan approval
Qbera provides approval within 30 mins of online application for personal loan. You need not wait for those lengthy steps to apply for a personal loan.
The process of loan application does not take much long like old traditional methods. It is easier now and much faster.
No need to pledge your home or car to get a personal loan. Qbera personal loans are collateral-free.
Flexible loan tenure
You can choose to repay the loan amount within a flexible loan tenure of 12 to 36 months.
- No Documentation
- Qbera has this appealing feature of paperless application. Get your loan sanctioned immediately after your online application.
The EMI Calculator provided by Qbera is one of the most accurate tools to determine your EMI. The results are faster and quicker than manual efforts.
Eligibility Criteria for Aditya Birla Personal Loan
- Your minimum age should be 23 years and maximum 55 years.
- Your net monthly income should not be less than Rs. 25,000.
- You must be a permanent employee of Aditya Birla Financial Services Group.
Documents required for Aditya Birla Personal Loan
- PAN Card
- Driving license
- Aadhar Card
- Voter ID
- Passport size photo
- Recent copy of telephone bill/electricity bill
- Driving license (having the same address as mentioned in application form)
- Voter ID (having the same address as mentioned in application form)
- Salary slips for latest 3 months
- 6 months salary account bank statement
- Latest Form 16
Aditya Birla Personal Loan Interest Rate and Other charges
||11% - 13.75%
||1% of the loan amount
||4% of principal outstanding in 1st year, 3% in second year and 2% thereafter.
||Rs. 2 lacs to Rs. 20 lacs
||12 to 36 months
1. What is the tenure of a personal loan from Qbera?
The loan tenure at Qbera is a flexible one and it ranges from 1 to 5 years (12 to 60 months).
2. What is an EMI?
It is the fixed amount that a borrower pays to the lender on a particular date every month. An EMI includes the principal and interest charged on a loan.
3. What is the minimum and maximum loan amount that I can get from Qbera?
The loan amount ranges between Rs. 25,000 to Rs. 10 Lacs.
4. What is unique about Qbera?
Our technology and lending partnership allow us to offer a world-class experience to our borrowers:
- Paperless application
- Instant lending decision
- Digital verification of income, employment and residence
- Disbursement of loan within 24-48 hours
Our CIBIL score cut-off is 625 and we can give loans to employees of more than 9 lac companies in India. Now you don’t have to get rejected by banks just because they have not analyzed and categorized your employer.
5. What should be my age to apply for a loan with Qbera?
You must be at least 23 years old to apply for a loan.
6. What should be my minimum salary to get a loan?
Your net monthly income must be Rs. 20,000 or more.
7. What should be my CIBIL score cut-off for a personal loan?
Our CIBIL score cut-off is 625 (V2 score).
8. What is the rate of interest charged on a personal loan?
Rate of interest depends on a borrower’s income, CIBIL score, employer, age etc. Qbera collects information from your application form and various other data sources to create a personalized loan offer for you. Our interest rates start at 11.99%.
9. What is the eligibility criteria to get a loan from Qbera?
To get a loan from Qbera, a borrower should meet the following eligibility criteria:
- Must be a salaried employee.
- Age must be between 23-55 years.
- Net monthly income must be Rs. 20,000 or more.
- No defaults in the last 24 months.
- You must be residing in Delhi/NCR, Bangalore, Pune, Chennai, Mumbai or Hyderabad.
10. How do I apply for a loan online?
To apply for a loan online, click here. For queries, please Whatsapp us on +91 89719 28484.
11. What are the documents required to get a loan from Qbera?
The following documents would be required after your loan is digitally approved:
- Aadhar 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 Aadhar card)
- Passport size photo
12. What is the processing fee charged on a personal loan by Qbera?
The processing fee ranges between 2% - 4%.
13. How can I repay my loan?
Qbera provides easy repayment of its smart loans through automatic debit of EMIs via NACH mandate.
14. Why was my loan application rejected at Qbera?
Although we have one of the best approval rates in the industry, we may have to reject some applications if they do not meet our basic qualification criteria. You can re-apply after 3 months in case you think that your credit profile has improved.
15. Can I re-apply for a loan?
Qbera requires you to wait for at least 3 months before re-applying for a personal loan.
16. How much time does Qbera take to process a loan application?
It will not take more than 10 minutes to fill up your online application form. Our technology allows us to disburse the approved loan amount within 24-48 hours.
17. Is part/prepayment allowed on my personal loan?
We do not allow part-payments. However, you can prepay your loan after completing 1 year of repayment. (Foreclosure charges: 5% + GST applicable).
18. Do I need to submit any collateral to get a personal loan from Qbera?
All personal loans offered by Qbera are unsecured. Hence, you need not submit any assets or property to secure a loan.
Interest Rate & Other Charges
||11.99% to 35.99%
|| 1% to 5% of total loan amount
||₹1,00,000 to ₹15,00,000
||12 to 60 months
- 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%)
- Age: 21-57 years old
- Net Monthly Income must be more than Rs. 18,000.
- No defaults in the last 24 months.
Documents Required after Digital Approval
- 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)
"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"
Following a Supreme Court Order dated 13th March, 2018, Insurance regulator IRDAI extended the deadline for linking the 12-digit unique identity number with various insurance policies.
A day after SBI hiked deposit rates across maturities, the largest lender of India also raised MCLR by up to 25 basis points. MCLR is now at 8.15 percent which was earlier at 7.95 percent. This signals a possible increase in the EMIs of all types of loans – starting from personal loans to home, auto and other loans. ICICI Bank and Punjab National Bank (PNB) also hiked their MCLR by 15 bps. PNB home loans will now be at 8.6% and for women it will be 8.55%.
A loan can get you and your loved ones the comfort of a car and security of a home, and many other things. But your real responsibility begins only after taking the loan.
A panel was of the opinion that state-run lenders need to be consolidated and private banks must compete with new-age financial services fintech firms through better technological innovation.