Getting quick loans on the same day is now a reality! With Qbera’s advanced technology, your profile will automatically be evaluated and you can receive instant loan approval. Qbera offers quick personal loans to salaried individuals with a minimum net monthly income of Rs. 18,000.
Nowadays with the high inflation conditions prevalent in the country, it is not possible to afford small luxuries of life. We often have to think twice even to buy a high-end device like a smartphone or the latest curve television. Quick loans on the same day are the best solution for such immediate needs. The credit industry is seeing a boom and the easy accessibility to credit has made it possible to enjoy these small joys of life without denting your savings. These high-end devices usually come at a price that cannot be managed by the paychecks.
Getting Quick Loans on the Same Day in India
Quick loans on the same day in the form of personal loans are available from Fintech companies like Qbera. True to their name, quick loans are instantly processed and disbursed and can be at your disposal on the same day as well. These Quick loans are unsecured and so no collateral has to be pledged- this is undoubtedly one of the high points of an instant personal loan.
It is quite easy to get a quick personal loan, however, before starting the application process, carefully look at the eligibility criteria. Many times, the failure to meet these basic guidelines leads to application rejections. These rejections have a two-fold impact on your credit. Firstly, the lenders are usually wary about lending to applicants who have been rejected by peers and secondly, these rejections for a part of your credit score and is reflected for a long time. The lender also does a ‘hard pull’ of your credit score while considering your application and a high number of such pulls in a short time frame is interpreted as credit hungry behavior and also lowers your credit score.
Eligibility conditions for a Same Day Quick Loan in India from Qbera
-
The applicant must be salaried- the absence of any collateral plants the onus of loan payment solely on the salaried individual. The employment status and the stability at the job is thoroughly analyzed.
-
The applicant must have a net salary of Rs 18 000- To ensure timely repayment of loan a minimum salary of Rs 18,000 is considered.
-
The applicant should be in age group of 23-55 years- Applicants in the age group of 23-55 years are better equipped to make proper use of the long tenure provided.
-
The applicant must have a CIBIL score of 600 -There are numerous factors that affect a credit score and sometimes incorrect data might cause a lesser score. Fintech companies, therefore, do not solely depend on it. They consider the score along with social and economic preferences. So, a marginally low score is not a bother.
Features of Qbera's Quick loans on the same day
-
Unparalleled digital experience as the entire process is completely digitized.
-
Quick disbursal time of 24-48 hours after document verification
-
Competitive interest rate starting at 10.99% is one of the best in the industry.
-
Long repayment tenure that spans up to 5 years ensures manageable monthly payouts.
-
Individuals in the low-income group can apply.
-
Individuals staying in shared accommodation are considered for same day loans.
-
The highly flexible loan can be used as per the needs of the applicant in a variety of scenarios.
View a complete list of our FAQs at our
help center
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%)
About Qbera
Partner with Qbera
Press
Reviews
Call Back Request
