Best Personal Loans

When faced with financial shortfalls, one of the best possible sources of funds are Personal loans. The best personal loans are those which offer less interest rate and long repayment tenures. There are quite a few lenders in the market who offer the best options suited to your requirements. There are many factors such as the turnaround time and customer care services that make the entire process of applying for a loan - either an enjoyable one or a nightmare.

Banks, NBFCs, and Fintech companies are present in the lending market and offer the best possible packages. This gives the customers the added power to choose a loan that perfectly fits his criteria and requirements.

Qbera, a Fintech company, offers instant approvals and a completely digital experience when you wish to avail the best personal loan in the market. On applying for a personal loan, you will receive instant approval based on your creditworthiness. This is based on Qbera's internal credit norms. The ideal credit score should be above 600, and there shouldn't have been defaults over the last 12 months.

For that complete digital experience, the application process is online and involves minimal paperwork. The supporting documents like pay slips and bank statements are also submitted online through secured net banking gateways.

These instant personal loans can be availed by any salaried individual between the age of 23-55. A net take home salary of Rs.20 000 is also preferable. The CIBIL score is another important criterion that cannot be overlooked. Being unsecured loans there are no assets pledged with the financing institute. Banks therefore prefer a credit score of 750 and above while processing the loan application.

If your score is less than the ideal figure, fret not, for fintech companies do operate in that area. Using advances risk calculation algorithms based on social and economic standing of the individual, Fintech’s do approve applications for credit score that are above 575. They also consider applicants with uncategorized companies. All financial institute has a vast database of employees employed with different prominent companies. Most banks do reject the application if the applicant’s company is not present in their database. Qbera, however, offers the best personal loans to employees of more than 7 lakh companies, thereby, increasing the approval probability exponentially.

Also, applicants in shared accommodation usually face personal loan rejection, which is not the case with Qbera.

There is minimal paperwork required to seal the deal and those are:

• Aadhaar Card
• PAN Card
• Bank statements for the last 3 months
• Salary slips for the last 3 months
• Proof of address document
• Cheque Leaves from your salary account
• Photographs (passport sized)