The development of information and technology has enabled banks and other financial institutions to go green and develop products that are completely digital. Paperless cash loans in India are a reality now with Fintechs functioning on completely digital mode. The Indian economy is leaning towards paperless transactions and personal loans too are discarding huge stacks of paper documentation. The presence of eKYC and online checking of credit reports and other necessary documents have proved to be a blessing.
Since the entire process from application submission to documentation and verification is done online, there is no need to visit the branch or take a day off from work. You can get the loan from the comfort of your home.
As mentioned above, these paperless cash loans in India comes under the category of unsecured loans, which furthers puts it in the high-risk category. Banks typically do not approve, if the CIBIL score is less than 750. Qbera, however, uses advances risk calculation algorithms and does process applicants with a score of 600 and more provided that there have been no payment defaults in the last 12-24 months.
These are easy source of money, but, it is not prudent to take them without much forethought.
Here is a list of questions you should ask yourself and get answers for before applying for any loan.
These paperless cash loans are quite easy to apply as the entire process is done online with minimal physical documents. To apply, the applicant has to fill up the loan application with personal and employment details. Based on these details, the application is either approved or rejected. Once the application is approved, the internal qualifying norms are to be met. Supporting documents like bank statements and pay slips can be submitted online using secure banking credentials. Some physical documents like Aadhar card, PAN card, photographs and post-dated cheques from the salary account are required. These are collected from your doorstep by a Qbera executive. After another round of verification, a personalized loan quote is sent to you. Once that is accepted, you can expect the loan amount in your account within 24-48 hours.
||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"