Do you need urgent money today? In the uncertain world that we live in anything can go wrong at any time and financial shortfalls can certainly come knocking on your doors. Emergencies can demand huge amounts of money and may leave you thinking - I need urgent money today… where do I get it from?
Our near and dear ones are the first preference in case of urgent money requirements, however, if the amount is huge it is banks that one turns too. But you need urgent money today and banks rules and procedures make it impossible. The documentation and verifications take about a week if not more.
Qbera, a fintech company can help you out in such a scenario. A salaried individual with a minimum take home salary of Rs.20, 000 or more can take this Urgent cash loan. You can take a personal loan of an amount ranging from Rs.50, 000 to Rs.25, 00,000 with an annual percentage rate of interest (APR) ranging from 11.99% to 35.99% and the tenure ranging from 6 to 60 months. The Administration fee range is 1% to 5% which is quite nominal. Applications from individuals in the age group of 23-55 and a minimum CIBIL score of 575 are considered. Banks usually prefer a CIBL score of more than 750 as these unsecured loans that fall in the high-risk category. Modern technology, however, has empowered Qbera with advances algorithms and risk-based pricing models that help these companies determine an individual’s creditworthiness.
When you need urgent money today, you should look at Fintech companies like Qbera because they are quick. You fill in the required details online and in as less as 2 min, the system will advise you if you are eligible for the loan or not. If you are eligible, you can give your bank statements online through secured channels and the personnel from Qbera comes to collect the documents. After internal assessments, you can expect the amount in your bank account in as less as 24 hours which means today.
Immediate personal loans have changed the way one looks at emergency situations. But, the end-use of the amount is not specified. You can use it to pay for emergency medical procedures, renovate or upgrade your home, go on a long-dreamt vacation or simply use the amount to have a dream marriage. The loan amount can also be used to consolidate the various debts that you have landed yourself in. With manageable interest rates and longer tenure, you can actually get out of your debts faster.
Documents for personal loans from Qbera
Also, the loan application is not rejected simply because you are in a shared accommodation. The advanced system in place takes your employment tenure and stability in job and residence as well as a host of other factors into consideration while processing your loan application.
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Interest Rate & Other Charges
Interest Rate
|
11.99% to 35.99%
|
Processing Fee
|
1% to 5% of total loan amount
|
Loan Amount
|
₹1,00,000 to ₹15,00,000
|
Loan Tenure
|
12 to 60 months
|
Step 1: Online Application Form
Get approved instantly
Fill out our online application form by answering a few questions about yourself, your employment, your education, expenses and needs. This process would take no longer than 10 minutes.
Step 2: Connect bank account
Submit your bank statements
Connect securely to your bank via netbanking and submit bank statements as part of the easy loan application form. Alternatively, you can upload bank generated pdf bank statements.
Step 3: Loan term
Choose your Loan Term
Using our proprietary Credit Scoring Algorithm we determine your loan eligibility in real-time. Our algorithm uses the information about you, to determine your future potential and help you get the best rate instantly.
Example: A
loan offer of
₹2 lac, for a
tenure of
3 years at an
interest Rate of
16.6% (on a reducing principal) and a
processing fee of
2.5%.
Translates to:
- 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%)
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