Low Interest Personal Loans

Are you looking for a low-interest personal loan? You’re just at the right place for one!

Personal loans are one of the most commonly availed types of credit in India today and have somewhere risen to become more popular than credit cards, mostly owing to the high internet rates on credit cards. Interest rates on personal loans start at around 10.99% - 11% p.a., while that on credit cards is a whopping 35% - 40%. Low interest personal loans have become extremely popular among salaried individuals – several financial institutions and Fintech companies have commenced operations in the personal loan lending space, offering low interest loans over the last few years.

If you are one of those salaried individuals who wish to avail a personal loan, the interest rate is the first thing you’d be looking at. Interest rates have always been the key as far as loans are concerned (not quite a debatable topic) - the primary reason why people are always on the lookout for low interest personal loans. Although credit cards come with exorbitant interest rates, they have interest-free periods that span 40-50 days, with no interest being charged if you pay the entire outstanding balance on your card within the interest-free period. 

What exactly are low interest loans?

Low interest loans typically mean that the interest on the loan (annual rate of interest) is quite low and ideally below the 12% p.a. range – in accordance with current market trends and statistics. The interest rate on personal loans remains fixed throughout the tenure of the loan and doesn’t change as the tenure progresses. Most loans are fixed rate personal loans except for home loans, where banks provide you with the floating rate option. 

Can anyone get a low interest personal loan?

As far as low interest personal loans are concerned, what interest you’re offered will depend on various aspects including your credit score, income and repayment history. So if you’re looking for a personal loan with a low interest rate, your credit score should be right up there, with no instances of late payments. 

This is exactly why financial institutions offering loans project a starting rate of interest in advertisements that talk about interest rates starting from a particular rate – the typical add would look like “interest rates starting at 11% p.a.”. So just because you see a low rate of interest in an advertisement, it doesn’t necessarily mean that you will be offered that interest rate. 

Apply for low interest personal loans with Qbera

Qbera is Fintech Company that offers low interest personal loans to salaried individuals. The application process for a Qbera personal loan is simple and can be completed in just a few steps. Here are the steps to apply for a low interest loan with Qbera:

• Login to the Qbera website and fill out details, including the purpose of your loan. You can calculate the potential monthly repayment amount depending on the rate of interest on your loan (you’ll get a better idea of what your repayments will look like). 

• Upload your bank statements and a soft copy of your documents including your Aadhaar and PAN card. You can submit bank statements by providing your netbanking details over a secured web channel that only retrieves your bank statements from your netbanking account. 

• Once your documents are verified, you will get a loan offer in about 4-5 hours. The interest on your loan and your approved loan amount will depend on your credit score, income and past repayments. 

• Once you accept your loan offer from Qbera, you will receive the loan amount within 24-48 hours. 

Why choose Qbera for a low interest personal loan?

Low interest loans for low credit scores

You can get a loan with a low credit score of 600. However, there should be no instances of defaults over the last 24 months. 

 Low interest personal loans for low income people

The minimum income requirement for a Qbera personal loan is Rs. 20,000 p.m. Depending on your income, you can apply for loans starting from Rs. 25,000 to Rs. 10 lakh. 

Loans for employees of unlisted companies

Even if your company or organisation is unlisted, you won’t get rejected, unlike other lenders who reject applications if the employer or organisation is not listed. 

Complete digital process

You can complete the entire loan application process online, including submission of your documents.

High-quality customer service

You can contact Qbera’s customer service staff on both weekdays and weekends, either through Whatsapp, email, or phone (toll-free number).