Personal Loans made simple!
Digital Loan in Bangalore
A digital loan is a loan that you can get online, with the lender giving you the provision of completing the entire loan application online. Digital Loans from Qbera in Bangalore are now a reality - apply with Qbera if you have a minimum net monthly income of Rs. 18,000 and a minimum credit score of just 600.
Digital Personal Loans in Bangalore
If you are looking for instant credit with a completely online loan application process, Qbera has a unique, digital loan product for you. The application process is extremely simple, and takes just under 5 minutes for applicants to complete the process - applying for a personal loan from Qbera is literally as easy as ordering for a pizza. When we look at various other lenders who are present in today's market, Qbera stands out for a lot of reasons. Let's look at some differences between Qbera and traditional lending institutions. These differences elucidate why Qbera is easily your best choice for a digital loan in Bangalore.
Getting a Digital Loan in India - Difference between traditional lenders and Qbera
Minimum CIBIL score of 600
Minimum CIBIL score of 700 (750 in the case of some banks)
Minimum Income of Rs. 18,000
Minimum income ranges from Rs. 30,000 - Rs. 50,000+
Minimal paperwork required (only Cheque leaves, Aadhaar Card and PAN Card)
Extensive paperwork involved in some cases
A few instances of late payments are permitted
Eligibility norms are more rigid, late payments can lead to rejections
Steps to get a Digital Loan in Bangalore from Qbera
The steps involved to get a digital loan from Qbera are extremely simple. Here are some important points that you can take note of:
- When you apply for a digital loan in Bangalore from Qbera, you'll have to fill out your personal and professional information, after which your credit profile is evaluated against Qbera's risk assessment algorithm. The comprehensive risk-evaluation algorithm looks at various aspects of your credit profile and not just your credit score or repayment history.
- The details of your credit profile are obtained by using your PAN and Aadhaar numbers. After your profile is evaluated against Qbera's internal eligibility norms, you will receive instant approval or rejection. If your credit score is at least 600 (it doesn't matter if your CIBIL score is low) and your income is at least Rs. 18,000 (net monthly income), and your profile doesn't have too many instances of late payments in recent months, prepare to receive instant approval.
- You can then go ahead and upload your salary/income documents and your bank statements. Soon after, Qbera's self-proprietary algorithm again look at your income, current monthly debt obligations, and a number of debt sources, and accordingly generate a sanctioned amount. Note that the sanctioned amount may not always be in line with the amount you've requested for - as mentioned already, various aspects are evaluated before determining your sanctioned loan amount.
- Your documents will then be verified, following which an executive will collect Cheque Leaves from your salary account and copies of your Aadhaar and PAN cards (absolutely minimal documentation).
- You will then receive a customized loan offer from Qbera, and once you accept the offer, your loan amount will be disbursed within 24 hours.
Why Choose Qbera for a Digital Personal Loan in Bangalore?
Here is why Qbera will be your ideal choice if you're looking for an instant loan in Bangalore:
- Amount credited to your bank account within 24 hours.
- Loans for low CIBIL scores and individuals with low-to-medium income levels.
- Loans for individuals employed with unlisted or uncategorized companies.
- Loans for individuals residing in shared accommodations.
- Minimal documentation.
- Digital document verification
- Robust customer service
What are some other cities where Qbera offers Digital Loans?
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"