Quick Online Loan

The Quick online loan has become a reality now with the presence of Fintech companies in the lending market. Qbera gives out personal loans with a completely digital application and quick turn around time. Post verification, a Qbera loan can be received in your bank account- at your disposal- within 24-48 hours. This easy availability of credit has changed the lending arena and made it possible to avail credit to finance any kind of monetary need. Where banks and other financial institutions take time to process documents, thanks to the digital operations of Qbera, the entire process is done quickly, efficiently and without errors.

Quick Online Loans in India - Difference between Qbera and traditional lenders

Features of a quick online loan from Qbera

• Digital Verification:  The use of digital means to verify the applicant like making use of online Aadhar card verification and eKYC documents have speeded the process substantially. This results in less turnover time and instant lending decisions.
• Loan for low credit scores: Credit score provide an insight into credibility of a borrower and while banks solely rely on them, Qbera makes use of their risk calculation algorithm for better understanding. This algorithm considers social and economic leaning of an individual while making the lending decision.
• Loan for low-income levels: Low-income groups that have a lesser amount in hand on paydays are not preferred by banks. Qbera, however, does not see it as a restrictive point and do consider them while approving quick online loans.
• Loans for individuals living in shared accommodations: Many in metropolitan cities who stay away from their families prefer shared accommodations as they are cheap and more affordable. However, banks do not consider them stable enough and so do not sanction such loan applications.

Things to keep in mind while applying for personal loan:

• Before taking a loan, remember that it has to be paid back consistently and promptly. Failure to do so have a bad impact on your credit ratings and may hamper your chances when there is urgent requirement. It is advised to carefully study your requirements before applying.
• Personal loan is easy to access to money that might prompt you to take more than you need. This is however highly discouraged and not at all feasible in the long run.
• Check the eligibility criteria to see if you qualify and these form the first level of application scrutinization.
• A high CIBIL score implies better chances of loan approval and an enviable interest rate. Qbera does consider persons with sub-prime credit scores as well. Consider taking corrective measures if your score is too low before applying.
• A Lower interest rate means less money paid out at the end of the loan term. So, be sure to negotiate a better interest rate.