The question of - How can I get a loan in a quick and easy fashion is often asked. Banks and other non-banking financial institutions have emerged as the best solution for financial needs. Advancement in banking practices and the advancement in information technology has opened many doors when financing is required. While earlier private lenders were having a majority, today the preferential shift is towards financial institutions as they offer better interest rate and security.
Banks and Fintechs work towards providing better and effortless ways to apply and receive a loan. The process has been simplified and Fintechs have made it completely online too.
Get a Loan from Qbera through these simple steps
- Fill out the online application form available at www.qbera.com. This form asks for personal and employment information.
- Submit the bank statement which clearly shows your salary credit and other documents online.
- Get a personalized loan quote.
- After accepting the emailed quote, some physical documents have to be submitted. After another round of verification, the loan amount is credited with 24-48 hours.
The online process also involves minimal documentation. A representative from Qbera will visit you to collect documents such as the Aadhar card, PAN card, Address proof, cheque leaves and photographs.
Advantages of taking a loan from Qbera
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Instant procedure- The entire process of applying for the loan, checking eligibility and documentation is done online and it is quick.
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Flexible repayment options - these online personal loans give the customers the benefit of flexibility in choosing a tenure. The tenure ranges from 6 months to 60 months.
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No collateral required- These are unsecured loans and so, you don’t have to worry about pledging your assets.
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Secure platform- All your details are secure and there is strict adherence to the policy of not sharing customer details without permissions.
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A low credit score is considered- Even if your credit score is low when compared to the bank’s standard requirement, you can be eligible for a Qbera Instant Loan. Qbera offers loans to people with a credit score of 600 and above.
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Competitive rates of interest- The interest rate of personal loans is quite competitive as there are a number of players in the field. So, hunt around for the best interest rate possible.
These loans are quite flexible and can be used to fund anything from marriage to home renovation to debt consolidation. They can also be used to pay for an unconventional course or to buy second-hand vehicles.
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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