Want a flexi loan in India that you can repay through flexible repayment tenures? Qbera offers flexi loans to salaried individuals with a minimum net monthly income of Rs. 20,000 per month.
What are flexi loans?
Flexi loans are loans that have flexible repayment tenures and loan amounts. Customers can choose from small amounts starting from Rs. 25,000, to amounts up to Rs. 20,00,000. Flexi loans come with repayment tenures from 6 months to 60 months. Several lenders these days offer flexi personal loans to individuals - both salaried and self-employed individuals. Qbera is a popular Fintech company offering flexi loans to individuals at interest rates starting from 11.99% p.a.
How can you get a flexi loan from Qbera?
Getting a flexi loan from Qbera is extremely simple. All you've got to do is visit the official Qbera website and fill out the online application form - you will need to fill out your personal, professional and KYC details. After filling out the form, you will need to upload your supporting documents, including your bank statements (through a secure web channel by using your login credentials).
Once your documents are verified, you will be made a customized loan offer within a few hours.
Note that collection of physical documents is necessary - and is scheduled once initial approval is received. After the documents are verified and the final offer is accepted, the loan amount is disbursed within 24-48 hours.
Documents required for a flexi loan from Qbera
The following are the documents that need to be submitted for flexi loans from Qbera:
- Aadhaar Card
- PAN Card
- Proof of address
- Salary and income documents
- Photographs
Eligibility criteria for flexi loans fro Qbera
- 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
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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
|
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.
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.
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.
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:
- 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%)
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