Immediate Approval Loans
Immediate Approval Personal Loans
Immediate requirements calls for immediate action and more often than not it requires an immediate flow of funds as well. With inflation on the rise, it is almost impossible to designate an amount as “emergency funds” to be kept aside. Immediate approval personal loans are the only solution that can be opted for in such situations. Most young urban household have bare minimum savings, and in situations like hospitalization or unseen expenditures, there is sometimes an absolute lack of funds. Also sometimes, they might not be able to pledge any kind of collateral for immediate cash. Most top Private Banks have endless paperwork and criterions that make it absolutely impossible for them to give immediate cash loans.
But, this hopeless situation has now been remedied by Fintech companies like Qbera. Qbera offers immediate approval personal loans to salaried customers. Even if the CIBIL score is less than ideal, the customers can avail immediate personal loans based on the company’s internal eligibility criterions. With proper documentation, the loan is approved and disbursed to the customer’s bank account with 24-48 hours.
CIBIL score of the individual is a very important criterion as immediate approval personal loans are unsecured loans and so no collateral is required. Banks look for a CIBIL score of 750 or more, but Qbera considers scores of 575 as well. There are cases, where banks have rejected loans as the company of the customer is not listed, but Qbera has a large database of more than 7 lakh companies listed, which gives customers an advantage.
In cities, it is not uncommon to reside as paying guests or to share accommodation with friends so as to manage the high rents prevalent in the city. Banks and NBFC do not process personal loan application by such individuals, Qbera however, does not disqualify the customers if they are in shared accommodations.
The criteria for eligibility for an immediate approval personal loan from Qbera are:
- A salaried individual with a net salary of Rs.20,000/month
- 23-55 years of age
- CIBIL score of 575
The mandatory documents required are:
- Aadhaar Card
- PAN Card
- Proof of address
- Salary and income documents
- 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%)
- You must be a Salaried Employee
- Age: 23-55 years old
- Net Monthly Income must be more than Rs. 20,000.
- No defaults in the last 24 months.
- You must be residing in Delhi/NCR, Bangalore, Pune, Chennai, Mumbai or Hyderabad.
Documents Required after Digital Approval
- Aadhaar Card
- PAN Card
- 4 Cheques from your Salary Account
- Current Address Proof
- Permanent Address Proof (in case the permanent address is different from the address on Aadhaar card)
"I am really happy that I got a loan from Qbera. My application has been rejected by lenders in the past without giving any explanation for rejection. Qbera approved my loan with minimum documents. Thanks a lot once again."
I did not want to make many enquiries as many requests can lower the CIBIL score. I contacted Qbera on a Monday and by evening itself they had an offer for me. They kept me informed through every step of the process and were also flexible with regards to my commitments. In the end, the loan was disbursed within two days of documents submission. Thank you Qbera for simplifying the process and helping me find a loan. " Show more...
"It was a nice experience with Qbera. I have never seen such an easy process for getting a loan, especially when you need it the most. Thank you Qbera for your support."
"I had a hassle-free experience with Qbera. It was a very easy application procedure and in a short span of 3 days I got my loan credited to my account. Thank you so much for the support Team Qbera"
"It was very easy to get a loan from Qbera. I just applied on their website and got a confirmed offer immediately. The amount was transferred soon after. Will give it 5 out of 5"
"It's good and quick response from the Qbera team to get the loan. They are very good at the communicating the things properly and appropriately"