Apply for Online Loans
Apply for Online Loans
What are online loans?
Online personal loans, popularly called online loans, are loans that you can get online, without having to visit a bank or financial institution. All lenders these days allow you to apply for online loans without you being required to visit a branch – from start to end, the loan application process can be completed online.
Among the many lenders active in the online personal loan market, Qbera is a popular Fintech company that offers online personal loans. So if you wish to apply for an online personal loan, Qbera can be the best option for you for numerous reasons.
How to apply for online loan from Qbera?
If you’re looking to apply for an online loan from Qbera, it is as easy as you’d perform any easy task online. Let’s take a look at how you can apply for an online personal loan from Qbera:
Visit the Qbera website on – https://www.qbera.com/ and click on the option to apply for a personal loan. Currently, Qbera gives online personal loans only to salaried employees.
Enter the loan amount that you wish to borrow and also the purpose for applying for an online personal loan from Qbera.
Fill out your details in the online loan application form – make sure the information entered by you is accurate.
Upload your documents online – documents indicating proof of identity, residence and income. You will have to upload/submit your bank statements for the last 6 months.
Your loan documents will be digitally verified, following which you will receive approval. Note that initially when you first feed in your details, you will receive initial approval instantly based on various parameters in your credit profile.
After receiving final approval, you will get a customized loan offer from Qbera where details of the loan terms will be mentioned.
After you accept the loan offer, the loan amount will reach your bank account within the span of 24-48 hours.
Benefits of applying for online loans from Qbera
Let’s look at some prominent reasons why you should choose Qbera to apply for online loans:
Apply for online loans even with a low credit score
With just a credit score of 600, you can apply for an online loan from Qbera. Qbera offers online loans to individuals with low credit scores.
Apply for online loans with low income
Qbera offers online loans to individuals with low income levels – online loans are available to individuals with a minimum monthly salary of Rs. 20,000.
Apply for an online loan through the paperless route
Qbera’s loan application process is completely paperless – No physical documents are collected in the loan process, unless you don’t have a credit history, or your credit profile necessitates the requirement for physical document collection. Your documents, once submitted, will be verified, following which you will be made a customized loan offer.
Choose your online personal loan tenure
You can choose loan tenures ranging from 6 months to 60 months, depending on your repayment capacity.
Calculate your loan EMI and know your loan eligibility
The Qbera online EMI calculator lets you know your loan eligibility. Using the slider bars, set your income and your current EMIs (EMIs that are running on current loans). You will accordingly know the amount you are eligible for and your monthly EMI. Note that Qbera gives you the option of picking your own loan tenure (6 months to 60 months).
Apply for online personal loans even if your employer is unlisted
Qbera offers online loans to salaried employees of unlisted companies. Qbera currently offers online loans to salaried employees of over 7 Lakh companies across India.
Apply for online personal loans anywhere, anytime
You can apply for online personal loans from Qbera from the convenience of your home at any time, either through mobile or web platforms.
- 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.
- You must be residing in Delhi/NCR, Bangalore, Pune, Chennai, Mumbai, Hyderabad, Jaipur, Ahmedabad or Kolkata.
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%.