Easy Personal Loans
Easy Personal Loans
What are Easy Loans?
Easy Loans, or East Personal Loans, as the name aptly suggests, are loans that involve minimal paperwork, quick turnaround times, and can be applied for through the most convenient internet channels – through web or mobile platforms.
Easy Loans are also called digital loans in several references. They've risen in popularity in recent times and have evidently dominated the lending landscape in the current age. They mostly pertain to unsecured personal loans – home loans and car loans aren’t necessarily classified under easy loans or easy personal loans.
Citing current trends, the demand for these types of loans definitely doesn’t seem to be dropping, with lenders offering these type of loans actively seeking to dislodge traditional lenders. As such, many lenders, especially state-run PSBs, have become obsolete in the personal loan landscape.
Qbera is a leading fintech company that offers easy personal loans to salaried individuals. Qbera covers employees of almost 7 lakh companies in India, offering them easy loans for a variety of purposes.
Why choose an easy personal loan from Qbera?
The reasons for choosing an easy personal loan aren’t unknown. While we’ve already touched upon the essential features of easy loans in brief, let us look at what makes these loans special.
The application process is extremely simple and can be competed online.
Loans for salaried individuals with fairly low-income levels of Rs. 20,000 can qualify for the loan.
Having a not-so-good credit score can also enable you to become eligible for the loan, as long as there are no instances of defaults in the last 24-months.
Easy loans offered by Qbera have very less turnaround time and can reach beneficiary accounts in as less as 24 to 48 hours.
Relevant documents that have to be submitted for the loan application can be uploaded online.
No physical verification of address or identity will take place – the whole process is carried out digitally.
While traditional lenders require your employer to be listed by them (traditional lenders do a credit/stability check to assess your employer’s financial and business health), Qbera will offer you a loan even if your application has been rejected solely because your employer isn’t a listed company/institution.
Even if you’ve faced multiple rejections in the recent past, your loan application will be approved, subject to meeting simple eligibility parameters.
Qbera also takes into account details of your social profile while evaluating your application.
While traditional lenders require you to have a certain minimum number of years of work experience (minimum of 2 in most cases), an easy loan from Qbera doesn’t necessarily require you to have a minimum period of work experience.
Interest rates for easy personal loans by Qbera start at 11.99% and are influenced by your income, credit health, age, employment, etc.
Eligibility Criteria for Easy Personal Loans
Know the eligibility for easy personal loans:
You should be aged at least 23.
Your credit score should be 625 (V2 score, minimum).
Documents submitted by you must contain authentic information.
Instances of default shouldn’t have occurred over the last 24 months.
You must be a salaried individual.
Documents to be submitted for an easy loan with Qbera
Proof of identity (PAN, Aadhaar, Driving License, Voter ID, Passport).
Proof of residence (Aadhaar, Voter ID, DL, Passport).
Salary slips for the last 3 months.
Bank statement for the last 6-month period.
Steps to be followed in applying for an easy personal loan with Qbera
Login to www.qbera.com and choose your personal loan amount.
Enter your basic details and get a personalised quote. Note that you can check your monthly repayment amount against your requested loan amount by using the EMI calculator
Choose a purpose – you can choose from several available options.
Enter your details as required by corresponding information fields.
Upload your bank statements by providing your netbanking credentials. Upload other relevant and required documents as well.
Get the amount disbursed to your account within 24-48 hours.
Cities where Qbera provides personal unsecured loans to salaried individuals
Interest Rate & Other Charges
||10.99% 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"
RBI to introduce a ‘Central Digital Currency’ to curb the currency-printing cost. It admits the power and opportunities of blockchain technology.
Staggering under the gigantic bundle of bad loans already, banks anticipate bad stressed assets worth $38 billion from the Power sector.
According to Nikkei India, the service sector firms increased their hiring levels at the fastest strides since June 2011.
The constant variations in the global economy and rising inflation have led RBI to keep the policy rates unchanged while presenting the first bi-monthly policy for the fiscal year 2018-19.
Axis Bank, one of the leading importers of gold and silver in India, was pulled out from the list of bullion importers released by RBI for the current fiscal year 2018-19.
A recent survey conducted by Nikkei India observed that the country’s Purchasing Managers Index (PMI) fell to a 5 month low in March 2018. The PMI reduced to 51.0 in March which was at 52.1 in February. The survey says that the manufacturing sector got better for the eight consecutive, yet at a very slow pace observed since last October.
Following a Supreme Court Order dated 13th March, 2018, Insurance regulator IRDAI extended the deadline for linking the 12-digit unique identity number with various insurance policies.
A day after SBI hiked deposit rates across maturities, the largest lender of India also raised MCLR by up to 25 basis points. MCLR is now at 8.15 percent which was earlier at 7.95 percent. This signals a possible increase in the EMIs of all types of loans – starting from personal loans to home, auto and other loans. ICICI Bank and Punjab National Bank (PNB) also hiked their MCLR by 15 bps. PNB home loans will now be at 8.6% and for women it will be 8.55%.
A loan can get you and your loved ones the comfort of a car and security of a home, and many other things. But your real responsibility begins only after taking the loan.
A panel was of the opinion that state-run lenders need to be consolidated and private banks must compete with new-age financial services fintech firms through better technological innovation.