Have a financial emergency and need money urgently? Well, guess what? Qbera offers instant cash loans that are disbursed to your bank account within 24 hours. In order to be eligible for a loan from Qbera, you need to have a minimum net monthly income of Rs. 20,000.
Need Money Urgently? Here is why you should choose Qbera
There are a good number of reasons why you should choose Qbera if you need money urgently. Let's find out!
Loans for individuals with a minimum credit score of 600
If your credit score is 600, you can get a personal loan from Qbera in absolutely no time! After you submit your documents and they've been digitally verified, you will receive a customized loan offer. After you've agreed to the offer, your loan amount will reach your bank account within 24 hours. With most traditional lenders requiring applicants to have a minimum credit score of at least 700, Qbera comes as quite the savior for applicants with slightly lower than prime credit scores.
Superb customer service
Qbera's customer service executives can be reached on Whatsapp, call or email. Customer support staff can be reached on both weekdays and weekends. If you have any queries regarding your loan application or repayment, you can contact Qbera's customer support staff for super-quick replies.
Paperless loan application
The application process is almost entirely paperless. You can submit your documents online, after which an executive will come and visit you just to cross-examine your KYC details. With the emergence of e-KYC, document verifications with Qbera are carried out on the very same day. You will then receive final approval, following which your loan amount will be disbursed to your bank account within 24-48 hours.
A quick look at the documents for urgent cash loans in India
In order to process your loan application, the following documents are needed:
- Aadhaar Card
- PAN Card
- Salary Slips for the last 3 months
- Bank statements for the last 3 months - to be submitted by logging in to a secure web channel through your netbanking credentials
- Photographs
- Salary account cheque leaves
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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