Mobile Loan Application

Qbera offers mobile loans - loans that can be applied for through your mobile, with minimal paperwork and super-quick disbursal times. Personal loans from Qbera come with a turnaround time of just 48 hours. Once you apply for your loan, you will receive instant loan approval, following which your loan amount will be disbursed to your bank account within 24 hours!

Important factors that are considered while evaluating your mobile loan application

Your credit history

Your credit history is one of the most important parameters that determine the approval of your loan application. A good credit history would ideally comprise of consistent repayments over time. As such, the credit history has the most dominant impact on your credit score and has a weightage of 35% on your score. Instances of defaults have a significant impact on your score while defaults have a more severe impact. 

Your credit score

In order to qualify for a personal loan from Qbera, you should have a credit score of at least 600. As such, lenders have their own credit score criterion that applicants have to meet in order for them to qualify. Most private banks require individuals to have a credit score of at least 700 in order to qualify for a mobile loan from Qbera. Note that late payments and defaults have a severe impact on your credit score. 

Your income

Another important aspect that influences your mobile loan application is your income. Your approved loan amount as such is majorly determined by your income and current monthly liabilities (on existing loans or credit cards). You can use Qbera's online EMI calculator to know the amount you're eligible for by adjusting the sliders (one for your monthly income and the other for your total monthly repayment amounts).