With Qbera, you can get a personal loan within 24 hours with a CIBIL score of 600. Apply today and get approval within seconds and get your customized loan offer within a few hours! You can plan all you want for the rainy day but, there is no surety that you will be able to manage everything. Sometimes we all need a helping hand in managing financial trouble and this is where personal loans from Qbera steps in as a savior.
How to get a loan with 600 CIBIL?
Banks, NBFCs, and Fintechs are providing personal loan solutions in the financial market today. Banks have loads of documentation and the requirement of the applicant to be present which is cumbersome in the busy lives that we live in. Fintechs like Qbera use technologically advanced methods for a fully digital experience.
The entire process to get a loan can be consolidated in these few steps
- Select the ideal financial institute
- Check the amount you are eligible to borrow by using the online EMI calculator
- Analyze the application procedure
- Check the documental requirements
- Apply for the loan
Advantages of opting for a Qbera personal loan
-
Easy Application: The application process is quite simple. Just provide your details through an online application form at Qbera.com. Upload the required documents like salary slips and bank statements to get an instant loan offer.
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Quick approval: Approval probability is quite high, and the eligibility criteria are manageable. If you are a salaried with min take-home salary of Rs 20,000 per month and fall in the 23-55 years age bracket as well as having a decent credit score. You are eligible for the loan. the access to a large a database of more than 7 lakh employers also improves the probability immensely.
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No Collateral: Being unsecured, there is no need for any collateral or guarantor. So, even if you do not own any legal property to pledge, you can still take a loan.
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Manageable interest rate and long repayment tenure: These two features decide the final amount paid out when the loan is closed. So much thought has to be given to this. Qbera s interest rates start at 11.99% and they offer a long repayment tenure that ranges from 6 months to 5 years.
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Low CIBIL accepted- Banks prefers the applicant to have a credit score of 750 and above. However, thanks to the advanced risk calculation algorithms used by Qbera, the applicant with a score of 600 and more are also considered.
You can use your personal loan for the following:
- Marriage
- Education and higher studies
- Vehicle purchase
- Consolidating existing loans
- Home improvements
Any of the above loan requirements can be easily managed by a Qbera loan as the loan amount offered is between Rs.50,000 to Rs.25,00,000.
Documents for a personal loan from Qbera
- Aadhaar Card
- PAN Card
- Proof of address
- Salary and income documents
- Photographs
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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