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Eligibility for Unsecured Loans

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Loan amounts range from Rs.1,00,000 to Rs.15,00,000. APR ranges from 11.99% to 35.99%. Loan lengths range from 12 to 60 months. Administration fee ranges from 1% to 5%.

Eligibility Criteria for Unsecured Loans

Unsecured Loans: Definition - What are unsecured loans?

Unsecured loans are a form of credit that do not require collateral or security. These loans are mostly available based on an individual’s income, credit profile and related parameters. Unsecured loans have become extremely popular, even perhaps going on to replace secured loans in the overall popularity quotient. 

Use Qbera’s online EMI Calculator and know your eligible loan amount

Eligibility Criteria for unsecured loans

If you’re looking for an unsecured loan in India, you might be wondering what the eligibility for an unsecured loan might be. Well, considering that there are multiple lenders in the personal loan landscape, the eligibility for unsecured loans is different for different lenders. There are traditional lending institutions and new-gen lenders like Fintech companies that have less stringent eligibility criteria for unsecured loans that they offer. Let’s take a look. 

Table 1: Eligibility for Unsecured Loans from Top Banks

The below table shows the eligibility for unsecured personal loans offered by traditional lenders:

Eligibility Parameter Minimum Eligibility Criteria

Credit Score

750 and above


Rs. 30,000 – Rs. 35,000 per month or above

Employer status

Employer/Company has to be listed

Tenures available

12 months to 60 months

Work experience

Minimum of 2 years of work experience

Table 2: Eligibility for unsecured loans from Qbera

Eligibility Parameter Minimum Eligibility Criteria

Credit Score

600 and above


Rs. 20,000 per month or above

Employer status

Employer/Company need not be listed

Tenures available

6 months to 60 months

Work experience

Minimum of 1 year of work experience

City of Residence

  • Delhi/NCR

  • Bangalore

  • Pune

  • Chennai

  • Mumbai

  • Hyderabad

  • Ahmedabad

  • Jaipur

  • Gurgaon

Facts about eligibility for unsecured loans from Qbera

Unsecured Loans for Low Credit Scores

Qbera offers unsecured personal loans to individuals with low credit scores – salaried individuals who have a minimum credit score of 600. 

Unsecured personal loans for low-income persons

The minimum income to become eligible for an unsecured personal loan from Qbera is Rs. 20,000 per month, much unlike the requirements of traditional lending institutions that require individuals to have a minimum income of Rs. 30,000 per month (Rs. 35,000 per month in some cases). 

Unsecured loans for employees of unlisted companies

Qbera offers personal loans (unsecured loans) to employees of unlisted companies as well. Top banks will reject applications where employees are not employed in listed companies. 

Instances of defaults

While Qbera definitely does consider credit histories of applicants while approving loan applications, instances of defaults are something that won’t work 

Documents for unsecured loans

Here are the documents that you have to submit for an unsecured loan from Qbera:

  • PAN Card

  • Aadhaar Card

  • Cheque Leaves (4 nos. – salary account)

  • Income documents – last 3 months’ salary slips

  • Bank statements for the last 6 months

  • Photographs (Passport sized)

View a complete list of our FAQs at our help center

Interest Rate & Other Charges

Interest Rate
11.99% to 35.99%
Processing Fee
1% to 5% of total loan amount
Loan Amount
₹1,00,000 to ₹15,00,000
Loan Tenure
12 to 60 months
Getting a Qbera Smart Loan is Simple
Fill out our online application form
Step 1: Online Application Form
Get approved instantly
Fill out our online application form by answering a few questions about yourself, your employment, your education, expenses and needs. This process would take no longer than 10 minutes.
Connect your Bank Account
Step 2: Connect bank account
Submit your bank statements
Connect securely to your bank via netbanking and submit bank statements as part of the easy loan application form. Alternatively, you can upload bank generated pdf bank statements.
Select your loan term
Step 3: Loan term
Choose your Loan Term
Using our proprietary Credit Scoring Algorithm we determine your loan eligibility in real-time. Our algorithm uses the information about you, to determine your future potential and help you get the best rate instantly.
You’re done! Get the money in your Bank Account as early as tomorrow.
Example: A loan offer of ₹2 lac, for a tenure of 3 years at an interest Rate of 16.6% (on a reducing principal) and a processing fee of 2.5%. Translates to:
  1. 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
  2. EMI of ₹7091 per month
  3. Total payable amount in 3 years = 36 times ₹7091 = ₹2,55,276
  4. 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%)
Repaying a Qbera Smart Loan is just as Simple
Repay your loan with automatic EMI payments.
  • Age: 21-57 years old
  • Net Monthly Income must be more than Rs. 18,000.
  • No defaults in the last 24 months.
  • Aadhaar Card
  • PAN Card
  • Current Address Proof


"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 would like to thank Qbera for speedy loan processing. I was having a tough time in deciding which bank would actually take my request for a loan as the loan was supposed to be for credit card payoff. I was forced to use my credit card for an unforeseen expense which I could not avoid and was finding it tough to pay back due to the high interest cost on credit cards. 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...



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We are a Bangalore-based company offering digital, quick, hassle-free personal loans to people when they need them.

Loan amounts range from Rs.1,00,000 to Rs.15,00,000. APR ranges from 11.99% to 35.99%. Loan lengths range from 12 to 60 months. Administration fee ranges from 1% to 5%.

* Subject to Risk Profile

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Phone: 1800 4198 121
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