Best Personal Loans
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)
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"