Personal loans are the go-to solution for all your financial worries, more so, if the requirement is urgent. Banks, NBFCs, and private money lenders all give out personal loans. There are also private money lenders who give loan against cheque. These loans are usually given out to small businesses as working capital. There are also private money lenders who give a personal loan to individuals against cheque. However, there are chances of high interest rates and fees.
In case of urgent need, individuals turn to private lenders as they instantly hand over cash. With the advent of Fintech companies like Qbera the turnaround period is as less as 24 hours making them a better option than private lenders. It is therefore advisable to rely on a Fintech company rather than private money lenders. Loan against cheque are secured by the cheque, wherein if the repayment is not done, the lender will submit the cheque to the bank. Dishonoring of the cheque is a criminal offense and attracts punishments and so they are used as a safeguard while handing out personal loans.
So, as discussed above, Fintech companies have a quick turnaround period provided your documents and information handed out is absolutely correct. Qbera, for example, promises the loan amount in your bank account within 24-48 hours of document verification and acceptance. Online personal loans are unsecured loans and so fall in the high-risk category. It comes as no surprise that banks and other financial institutes only considers application where the CIBIL score is 750 or more. But are you at a loss here just because your CIBIL score is marginally low? Well no, Fintech companies use advanced risk calculation algorithms that use the applicant’s socio-economic standings as well. They, therefore, consider marginally low credit scores also.
There are other criteria also that is considered.
Personal loans are flexible and one of the best ways to take care of monetary shortfalls. It can be used to fund your marriage or education. It can be used to undertake urgent repairs or renovations in your home. The amount can also be used to pay for emergency medical bills or simply to consolidate various existing debts.
||11.99% to 35.99%
|| 1% to 5% of total loan amount
||₹1,00,000 to ₹15,00,000
||12 to 60 months
"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%.