Instant Cash Loan in 1 hour in India
Instant Cash Loan in 1 hour in India
Looking for an instant cash loan in 1 hour in India? Well, your search ends here, with Qbera! Qbera offers instant cash loans to salaried individuals who are at least 23 years old, and have a minimum net monthly income of Rs. 20,000. The best part about Qbera’s instant personal loans is that these loans are provided even to individuals with low credit scores – individual with credit scores as low as 575 can get an instant cash loan in 1 hour in India. Let’s go ahead and find out more about online personal loans from Qbera and how they’re increasingly changing the way people borrow money.
Instant Cash Loan in 1 hour in India – how does it work?
Not all lenders who are in the personal loan lending space offer immediate cash loans in India. While instant cash loans are a reality in India, it is only Fintech companies that offer instant cash loans in 1 hour in India. Qbera offers instant cash loans in 1 hour in Bangalore, instant cash loans in 1 hour in Chennai, Mumbai, Hyderabad, Jaipur, Ahmedabad, Pune and Delhi.
Coming to the question of how these loans work, well, it is quite simple. Login to the website, fill out your details (personal, professional, KYC) and receive instant approval – this is if your profile meets the internal credit criteria. Once done, upload your documents, receive the final loan offer, accept it, and receive the money in no time.
While banks have been the leaders in the personal loan space, thanks to Fintechs and their capabilities to provide one-day approval personal loans in India, a larger number of individuals have been able to get access to credit. While banks have stringent eligibility parameters that need to be met, Fintechs have relatively easy-to-meet eligibility parameters, allowing a larger number of individuals to qualify for instant cash loans in 1 hour in India.
Some facts about instant cash loans from Qbera
Let’s look at some attributes of Qbera’s instant personal loans:
- You can get an instant cash loan in Qbera with sub-prime credit scores. Qbera offers instant personal loans to individuals with a minimum credit score of 575.
- With an income of at least Rs. 20,000 per month (net monthly income), you can be eligible for an instant cash loan in 1 hour in India from Qbera. Private Banks offering personal loans require individuals to have a minimum income of at least Rs. 30,000 to qualify for a personal loan.
- Qbera offers immediate personal loans to individuals residing in shared accommodations as well. Private banks don’t allow individuals residing in shared accommodations to qualify for personal loans.
- Most traditional lenders instantly reject applicants of individuals employed with unlisted companies. Qbera however, is robustly catering to the instant finance needs of employees of over 7,00,000 companies in India.
A quick look at the eligibility criteria for instant cash loans in 1 hour in India
- You should be at least 23 years old and not over 55 years old.
- You should have a minimum credit score of 575, and a minimum net monthly income of Rs. 20,000.
- You should have no instances of defaults in the last 12 months and no EMI bounces over the last 3 months.
- 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"
Following a Supreme Court Order dated 13th March, 2018, Insurance regulator IRDAI extended the deadline for linking the 12-digit unique identity number with various insurance policies.
A day after SBI hiked deposit rates across maturities, the largest lender of India also raised MCLR by up to 25 basis points. MCLR is now at 8.15 percent which was earlier at 7.95 percent. This signals a possible increase in the EMIs of all types of loans – starting from personal loans to home, auto and other loans. ICICI Bank and Punjab National Bank (PNB) also hiked their MCLR by 15 bps. PNB home loans will now be at 8.6% and for women it will be 8.55%.