Emergency Cash Loans

Need an emergency cash loan to tide over a crisis? You can choose instant online personal loans from Qbera. Immediate requirement for money calls for immediate action and funds. Banks and other financial institutes may not be handy at such a time with their set of rules and procedures. Fintech’ s, on the other hand, are much more effective in such situations.

You can opt for either personal loans or payday loans for immediate cash loans.

Payday loans are extremely easy to get, but, they have to be repaid in a truly short duration of time and they also have an exceedingly high interest rate. It's quite easy to fall into the trap of cyclic debt after taking a payday loan. A personal loan is a better alternative as do not require one to pledge any collateral and has longer repayment tenure. Also, if you choose Qbera there is minimal paperwork and manageable interest rate as well.

Key features and criteria for a Qbera Emergency Cash Loan

Emergency cash loans are extended to salaried individuals. A personal loan does not require any collateral or guarantor and it is understood that the applicant will be repaying the amount from his/her salary. The applicant must have a minimum take home salary of Rs 20,000 and a relaxed income to debt ratio.

A personal loan from Qbera can be repaid within a tenure of 6 months to 60 months. A long tenure ensures that the monthly EMI is manageable and easy to handle by the applicant. To avail maximum benefits of the long repayment tenure, the age group of 23-55 years is preferred.

The interest rate charged is strictly regulated and it typically starts at 11.99% with the maximum at 35%. However, this can be negotiated if you have a good CIBIL score. The credit score is a premium criterion that judges the credibility of an individual. The higher the score, more likely you are to negotiate a better interest rate.

To apply for an emergency cash loan, the applicant has to fill up the loan application online as well as a few parameters that are used to approve or reject the application. Once the internal qualifying norms are met and the application is approved, the applicant can submit supporting documents like bank statements and pay slips online using secure banking credentials. The minimal paper-works include submission of documents like Aadhar card, PAN card, Salary slips and income statements, bank statements, photographs and post-dated cheques from the salary account.

Documents for Emergency Cash Loan

• Aadhaar Card
• PAN Card
• Proof of address
• Salary and income documents
• Photographs

Eligibility Parameters for an Emergency Cash Loan

• You must be a salaried individual-
• You must have a min net salary of Rs.20 000/-
• You must be above 23 years of age and less than 55 years
• Minimum CIBIL score of 575 and no defaults in the last 24 months