Personal Loans made simple!
Cheque Based Finance in Chennai
Want personal finance options in Chennai? Qbera offers cheque based finance in Chennai to salaried individuals with a minimum net monthly income of Rs. 18,000. The minimum CIBIL score required to become eligible for a personal loan from Qbera is 600.
Cheque Based Finance from Qbera in Chennai
Getting a personal loan from Qbera is as easy as hailing a cab! As a matter of fact, it takes much lesser the time it takes to hail a cab to get an instant loan from Qbera. One of the major requirements involved in getting a loan from Qbera is the Cheque. As part of the documents required to process your loan application, you are required to provide 4 cheque leaves from your salary account.
Documents required for cheque based finance in Chennai from Qbera
Besides the cheque leaves of your salary account that need to be provided, here are the other documents that are required to process your loan application:
- PAN Card
- Aadhaar Card
- Photographs (passport sized)
- Salary slips for the last 3 months - can be uploaded online
- Bank statements for the last 3 months - can be uploaded online
Uploading your bank statements online
Your bank statement is an important document that you will have to submit in order to complete your loan application. You will have to submit your bank statements for the last 3 months through a secure web channel by keying in your netbanking credentials. Your bank statements will automatically be retrieved, and subsequently evaluated on various parameters, the most important being your salary credit. The process takes just about 2-3 minutes. Note that you don't have to submit physical copies of your bank statements. The entire process can be completed online.
Eligibility for Cheque Based Finance in Chennai from Qbera
Let's take a quick look at the eligibility parameters:
- You should be at least 23 years old, and not older than 55 years.
- The information contained in your documents have to be consistent and accurate. Documents with wrong information will lead the application to be rejected.
- You should be employed with your current employer for a minimum period of 3 months. Note that your Payslips and bank statements for the last 3 months have to be submitted, and they can be submitted online.
- Your profile should not contain instances of defaults in the last 12 months.
Tips to keep your credit score high
While applying for personal finance, your credit score is perhaps the most important parameter that influences your loan application. A bad credit score is certain to prompt lenders to reject your loan application. Here are some tips to keep your credit score high:
- Make timely repayments on your loan - avoid late payments as they have a negative impact on your score.
- Make sure you avoid loan defaults at any cost. Defaults on credit card payments are also detrimental.
- Keep a healthy balance in your savings account.
- If your NACH is active, make sure you avoid EMI bounces, as EMI bounces reflect negatively on your credit profile.
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"