Apply for Unsecured Loan

What are unsecured loans?

Unsecured loans are loans that don’t require any collateral and usually have a high approval rate and quick disbursal time. The best example of unsecured loans are personal loans – an extremely popular loan type in the market today. If you’re looking to apply for unsecured loans, there are several players in the market offering unsecured loans to salaried individuals. As a matter of fact, unsecured loans, which were once only available for individuals with a decent income level and a credit score, are not available to a wider segment of individuals. In today’s market there are unsecured loans for low credit scores, unsecured loans for low income, and unsecured loans for self-employed individuals.

Let’s take a look at Qbera’s personal loan and its features. If you want to apply for an unsecured loan, Qbera can be your best pick, and for a lot of reasons of course.

Unsecured Loans from Qbera – Why you should choose Qbera to apply for unsecured loans?

Apply for unsecured loans with Low Salary

Qbera offers unsecured loans for individuals with less salary – in order to qualify for an unsecured loan from Qbera, your income should be at least Rs. 20,000 per month. An income of less than Rs. 20,000 per month will not let you qualify for a Qbera personal loan.

Apply for unsecured loans with low credit scores

You can apply for an unsecured loan from Qbera with a credit score of 600+. Most private financial institutions that offer unsecured loans to individuals require them to have a minimum credit score of 750.

Apply for unsecured loans even if your employer is not listed

Qbera offers instant unsecured loans to individuals who work in organizations that aren’t listed in the database of banks and financial institutions. For instance, if you’re employed with a start-up, your company won’t be listed in the database of financial institutions, thereby leading to initial rejection – you will technically be rejected even if your income is good and your credit score is up there. Qbera, however, offers loans to employees of unlisted companies.

Unsecured loans with flexible tenure options

When you choose Qbera for your unsecured loan, you can choose from flexible tenure options ranging from 6 months to 60 months. Available tenures are mostly on an annual basis after the 1-year period, but Qbera also gives you the opportunity to pre-close your personal loan. If you choose to pre-close your loan, corresponding charges will hold applicable. 

Digital loan processing

When you apply for unsecured loans from Qbera, your loan will be processed digitally, on the very same day. Your documents will also be verified digitally – you don’t have to submit physical documents, as Qbera offers paperless unsecured loans.

Low processing fees, no hidden charges

Qbera loans have a low processing fee of just about 2% of the loan amount. Also, there are no hidden fees or charges – all charges that are involved are made clear to you upfront.

Customer Service

Qbera boasts a great customer service team that can be contacted by e-mail, telephone or whatsapp. Customer service associated can be contacted on both weekdays and weekends.

Wide spectrum of loan amounts

You can choose a loan amount from Rs. 25,000 to Rs. 10 Lakhs. The loan amount will depend on your income, your credit score and your repayment history.

Knowing your loan eligibility

You can use the Qbera online EMI calculator to know your loan eligibility by feeding in your income and current monthly liability. Depending on the information you enter, you will be shown your eligible loan amount.

Interest rate on unsecured loans from Qbera

The interest rate on Qbera’s unsecured loans ranges from 11.99% p.a. to 24% p.a. The interest rate on your loan will depend on your income, current monthly repayment amounts on existing loans if any, and your credit score. As such, a good credit score will always serve to get you a better interest rate.