Easy Personal Loan in Bangalore

Personal loans are the easiest and most comfortable source of money when dealing with monetary deficits. Bangalore being an IT hub attracts a lot of residents from various parts of the country. This has led to rapid growth in all the aspects of the city. The increased residential complexes and shopping malls and not to forget the technology parks with a vast number of companies has drastically changed the ways of Bangalore. There is a rise in inflation and a requirement to finance the new lifestyle of the tech-savvy population here. Banks and NBFCs especially Fintech companies are actively operating in the lending arena and giving out easy personal loans in Bangalore to bridge any financial gaps.

Easy personal loan in Bangalore is the perfect solution for urgent cash requirements. The instant personal loan from Qbera boasts of fast disbursal, completely digital process which is easy and hassle-free. Qbera informs an applicant about loan eligibility and offers in 2 mins. The documentation and validations are all done online with minimum paperwork. After the completion of all checks, the amount is deposited directly into your bank account in 24-48 hours.

The minimum eligibility requirement for a Qbera easy personal loan in Bangalore are:

• The applicant must be salaried and be in a position to repay the amount prudently. There are no collateral or guarantor attached to a personal loan and so the employment history of the applicant is quite important.
• The applicant must have a minimum take-home salary of Rs 18,000 and a comfortable income to debt ratio of 20-40%. The low-income group often faces a big problem while looking for credit. Typically, banks follow their strict protocols and do not entertain such applicants.
• The age of the applicant is another important point to consider. To avail maximum benefit of the long repayment tenure provided by Fintech companies, the age group of 23-55 years is preferred.
• The CIBIL score gives an insight into the individuals credibility and so a score of 750 and more is preferred. Fintechs do acknowledge that it is not the only deciding factor and places importance on social and economic standing along with the score. They, therefore, do consider a score of 600.

The interest rate charged by a fintech company for a personal loan is quite economical when compared to credit cards. Most personal loans offered has an interest rate that starts at 10.99% and the maximum is 35%. Be sure to negotiate the interest rate offered to a more comfortable one if you possess high CIBIL score.

Qbera personal loan is completely processed online and that includes the submission of documents. However, a handful of documents needs to be presented and that includes Aadhar card, PAN card, photographs and post-dated cheques from the salary account.

Personal loans are highly flexible. It can be used to fund your marriage or education, to undertake urgent repairs or renovations in your home or simply to plan an exotic vacation. The amount can also be used to pay for emergency medical bills or to consolidate various existing debts.