Immediate Loans Online from Qbera
Getting an easy loan online from Qbera is perhaps the easiest process! It can be finished in a few very easy steps. Let's take a look:
- Visit the official Qbera website by clicking on - https://www.qbera.com/ and click on the Apply option. Currently, you need to be salaried if you have to apply for a personal loan from Qbera.
- Fill out the online form available on the Qbera website and also provide your KYC details. Qbera's proprietary risk algorithm will almost immediately determine your eligibility. If you have a decent credit outlook, you will receive instant loan approval. The minimum requirements as far as your credit score, repayment history and instances of defaults on your credit profile should be in line with Qbera's internal credit policy.
- Once you fill out details, you must upload your supporting documents, which will be verified digitally, and a customized loan offer is sent to you. An executive will visit your home or office address to collect physical copies of your KYC documents. Note that the process involves minimal paperwork, with the majority of documents including bank statements and salary slips to be submitted online.
- Once you accept the loan offer from Qbera, your loan amount will be disbursed to your bank account within 24 hours!
Eligibility to get a loan online immediately
The following eligibility parameters need to be met in order to become eligible for a personal loan from Qbera:
Parameter
|
Eligibility
|
|---|
Age
|
23 years – 55 years
|
Minimum income
|
Rs. 20,000 per month
|
Credit Score
|
600
|
Defaults
|
No defaults in the last 12 months
|
Things to note while taking a loan online
- Here are some general pointers that you can note while taking a loan online:
- You'll need to have a clean credit health - besides being no instances of defaults, there should be no EMI bounces in the last 3 months too.
- You shouldn't have too many sources of debt - this will impact your chances of getting your loan approved.
- While instances of late payments are fine, your profile shouldn't have too many consistent late payments.
- Making regular payments on existing loans will help keep your credit file in good health.
- Longer tenures have shorter repayment amounts while shorter tenures have higher monthly repayment amounts. You can take a top-up loan or pre-close your loan before the end of your loan tenure at a certain fee.
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
|
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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