How to get a personal loan within 1 day?
While facing monetary shortfalls it is best to rely on the right financial institutions to manage the deficit. With Qbera, you can get your personal loan within 24 hours after receiving final loan approval. Your documents are processed and digitally verified on the same day and you will receive a customized loan offer in a matter of a few hours! The processing of the personal loan application is done in a jiffy thanks to the advancement in information technology. The advanced risk assessment algorithm being used by Qbera makes it possible to analyze an application form in a matter of minutes.
- Visit the Qbera website and click on the “Apply Now” option available on the site, or the “Apply” option for salaried individuals.
- Fill out your personal and professional details in the application form, after you’ve picked your loan amount and the purpose of your loan.
- Documents to be submitted include your income, residence and identity documents. The bank statements can be uploaded online using your netbanking credentials.
- A customized loan offer is made by Qbera after reviewing the credit profile.
- An executive visits the applicant to collect hard copies of documents such as Aadhar card and PAN card.
- Once the applicant accepts the loan offer which will quote a sanctioned loan amount, the amount is disbursed to your bank account in 24-48 hours.
Personal loans are incredibly flexible which means that any kind of monetary requirements can be managed with it. It is one of the best solutions during emergencies like a hospitalization, however, that does not mean that a personal loan is not useful in a non-emergency situation. Things that cannot be managed with a regular paycheck such as an exotic vacation or home renovation or consolidation of existing debt can be easily managed.
Eligibility criteria for personal loans from Qbera
- The applicant should be salaried
- The applicant must have a minimum net salary of Rs 20,000
- The applicant must be above 23 years and less than 55 years of age
- A minimum CIBIL score of 575 with no defaults in the past 24 months.
With a huge database of more than 7 lakh employers across India, Qbera caters to the personal loan requirements of many with quick lending decisions and fast disbursal of loans. The manageable interest rate starting from 11.99% and long repayment tenure of up to 5 years ensures that the personal loan EMI does not eat a major chunk of the monthly budget. To get a personal loan is quite easy in the new market economy especially with the presence of Fintechs like Qbera.
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%)
About Qbera
Partner with Qbera
Press
Reviews
Call Back Request
