Education Loan Eligibility CriteriaYou are eligible for an Education Loan from Qbera if:
Documents required for an Education Loan
Education Loan Interest Rate
How to Apply for an Education LoanGetting an Education Loan via Qbera is as easy as buying a notebook; it’s a simple five step process:
Features & Benefits of Education Loan:
Nothing is as important to us as making sure that the whole process of availing Student Personal Loans is as easy as possible for our customers. If you look through our terms and conditions, you will see that we have very flexible terms. The process also involves minimal paperwork and the loan can be availed very quickly which means that you can receive the best education with minimal effort.
As we provide only unsecured loans, you do not have to worry about putting up any valuables as collateral for your education loan.
The price of education can vary depending on the institution, course and other factors. We provide education loans starting from INR 50,000 and up to INR 7.5 lacs, so that you are not restricted in terms of funds when it comes to your future. You can use the lump sum that you avail from Qbera for any reason at all from; purchasing the required material, the travel expense, hostel expense, fees and much more. As education loan comes in the umbrella of personal loans, there are no restrictions as to what the fund can be used for.
When it comes to repayment tenures, we realize that your repayment capacity varies which is why we offer flexible repayment tenures. You can choose between 1 to 3 years to make the repayment. The benefit with this is that you will be able to choose whether you want to pay off the sum in small sums over a longer period or in large sums over a shorter period. If you choose to pay in small sums it will be easier on your monthly expense. However, this will mean that at the end you will find that you paid more as interest adds on each month, and the longer you make repayments, the longer you will be paying interest. If you pay off the loan in larger sums, you may have to tighten your belt on your monthly expense, but at least you can finish off the repayment quickly and you would end up paying less in total as you would have paid less interest.
After the first year of availing the loan, you can prepay the entire sum in one shot without paying a prepayment fee.
Once you have filled up the online application, submitted the due documents and the documents have been approved by us, the amount will be credited in your account in just a day.
We would like to avoid any instances where you would be fined unknowingly. That is why we make sure to inform you about all (if any) fines, fees and rates that you may be liable to at the time of availing the loan so that you are not blindsided by any.
From the moment that you decide to take an education loan from us to the moment that you complete your repayment, we offer complete support. Our staff are anytime between 10AM and 6PM IST on weekdays and between 10AM to 1PM on weekends. We can be reached via whatsapp at +91 89719 28484, by chat on the website or you can email us. If you leave a message, you can be sure that a staff member will get back to you in just a day.
You do not have to worry about your information that you have provided to us in confidence to be given to any third party. We truly value your privacy.
We make sure that your credit history is enhanced by sending regular reports to various credit bureaus.
Frequently Asked Questions on Education Loan
You can reach the Qbera staff anytime between 10AM and 6PM IST on weekdays and between 10AM to 1PM on weekends. Our staff can be reached via Whatsapp at +91 89719 28484, by chat on the website or you can email us. If you leave a message, a staff member will get back to you in just a day.
Complete repayment of your loan can be done between 1 to 3 years. You could either pay off in small amounts over a longer period of time or in large sums over a short period of time. After the first year of availing the loan, you could decide to pay off the rest in one large sum, without paying a prepayment fee.
The processing fee will depend on the amount that you borrow. However you can be sure that it is within the range of 2-3%.
The education loan interest that is charged ranges from 14 to 24%. The exact amount depends on certain factors such as your ability to pay back, work experience, history of past repayments, credit score, profession and age. The deciding factors are computed and decided within a day so you don’t have to wait a long period to make your decision.
We are a Bangalore-based company offering digital, quick, hassle-free personal loans to people when they need them.
Loan amounts range from Rs.50,000 to Rs.7,50,000. APR ranges from 14% to 24%. Loan lengths range from 12 to 48 months. Administration fee ranges from 2% to 4%.
* Subject to Risk Profile