Quick Cash Loans in India

Emergencies, at most times, require access to instant or immediate cash. What can one do in an emergency situation, for example, if one had to be hospitalized and the bills have to be paid? Quick cash loans in India have now become a reality thanks to fintech companies like Qbera. Quick cash loans are nothing but personal loans that are predominantly unsecured. Being unsecured, these quick personal loans do not require any collateral.

Quick cash loans in India are being offered to the salaried individuals with a minimum take-home salary of Rs.20,000 or more. Fintech companies like Qbera offer instant personal loans starting from Rs.50, 000 to Rs.25, 00,000.  The annual percentage rate of interest (APR) ranges from 11.99% to 35.99% and the tenure from 12 to 60 months. The Administration fee ranges from 1% to 5%.  Also, it’s preferable if you are in the age group of 23-55 and have a minimum CIBIL score of 575. Banks usually prefer a CIBIL score of more than 750 as these unsecured loans fall in the high risk category. Modern technology however has empowered fintech companies like Qbera with advanced algorithms and risk-based pricing models that help these companies determine an individual’s creditworthiness.

When we say quick,  it actually means quick because you just need to fill in required details online and in as less as 2 minutes, the system will advise if you are eligible for the loan or not. If you are eligible, you can submit your bank statements online through secured channels, after which a personnel from Qbera will come to collect your documents. After internal assessments, you can expect the amount in your bank account in as less as 24 hours. Quick cash loans in India have changed the way salaried look at emergency situations. The end usage of the amount is not restricted in anyway. You can renovate or upgrade your home, go on a long dreamt vacation or simply use the amount to have a dream marriage. All that you ever dreamt of, but had put off simply because of lack of funds, are now possible through these quick loans.

There are minimal documentation requirements as well.

• Aadhaar Card
• PAN Card
• Proof of address
• Salary and income documents
• Photographs

Also, the loan application is not rejected simply because you stay in a shared accommodation. The advanced systems in place take your employment tenure and job stabiltiy, as well as a host of other factors into consideration while processing your quick loan application.