Fast loans are personal loans that are delivered to beneficiary bank accounts in no time! The turnaround time for fast loans is usually about 24-48 hours, making them super-quick and almost instant. Speaking of which, fast loans are similar to instant loans.
How do you get fast loans in India?
You can get fast loans in India by applying with Fintech companies like Qbera, or P2P lenders. Traditional financial institutions like banks offer traditional credit products and don’t quite offer fast loans to individuals. Fast personal loans are essentially a characteristic of Fintech companies that have increased their presence in today’s market. In most cases, the interest rates on fast loans offered y P2P lenders is quite high, making the Fintechs like Qbera the ideal go-to sources for fast online loans in India. Fast loans these days go by other names including online personal loans and instant cash loans.
Applying for a fast personal loan with Qbera – here is what you should know
Qbera mostly offers fast loans to individuals who are salaried. The application process is entirely digital, requiring no intensive paperwork. The interest rate on fast loans offered by Qbera starts from 11.99 % p.a. and can go up to 24% p.a. The offered interest rate depends on multiple parameters that include an applicant's credit score, income level, existing debt accounts, etc. etc. Loan amounts range from Rs. 25,000 to Rs. 25,00,000, and the approved amount again depending on essential parameters such as an individual's credit score, income, debt obligations etc.
If you're looking for fast loans online in India, choosing Qbera comes with a host of advantages, most of which aren't available with other lenders in the market.
First, Qbera offers personal loans to individuals even with low credit scores. The minimum credit score to apply for a fast personal loan from Qbera is 575. This is relatively very easy to meet eligibility parameter and is far from the minimum credit criteria that banks require for applicants to become eligible. If you have to qualify for a private personal loan from a bank, you should have a minimum credit score of at least 750.
In the income front, individuals with a minimum income of Rs. 20,000 can qualify for a fast loan from Qbera. Another very impressive attribute of personal loans from Qbera is that even individuals living in shared accommodations can become eligible, because Qbera does not reject applications of individuals living in shared accommodations. Additionally, Qbera also offers immediate cash loans to individuals employed with unlisted companies - those companies that are not listed in the database of top private banks and traditional lending institutions.
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