Personal Loans made simple!
Quick Personal Loans Online
With Quick Personal Loans from Qbera, you don't have to wait several days to get your loan disbursed! With an advanced risk-evaluation algorithm, you will receive instant loan approval if your credit profile meets Qbera's extremely lenient eligibility parameters. If you are a salaried individual and draw a minimum net monthly income of Rs. 18,000, you can get a quick loan from Qbera at an affordable rate of interest.
Your credit score's influence on your quick personal loan application
Your credit score as such has a significant bearing on your loan application. In order to be eligible for a personal loan from Qbera, you need to have a minimum credit score of 600. Qbera also offers loans to individuals with no credit history - so if you've never availed a credit product earlier and you are at least 23 years old, you can be eligible for a quick personal loan from Qbera.
Most private banks offering personal loans to salaried and self-employed individuals have a minimum credit score criterion of 700 in order for them to be eligible. Some very popular banks that offer the best interest rates in the market have a credit score threshold of 750+ too. In order to improve your approval chances, you must make sure that your credit health is good, and you have no instances of defaults in your credit profile as such.
Eligibility for quick personal loans - Qbera vs Private Banks
You can see below the eligibility table that compares the parameters adopted by Qbera and private banks.
Qbera
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Traditional Lenders
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A minimum score of 600
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A minimum score of 700; a minimum of 750 in some cases
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Minimum net monthly income of Rs. 18,000
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A minimum income of Rs. 30,000
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No defaults in the last 12 months
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No defaults in the last 12 months
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Late payments a few times are allowed
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Late payments will most likely lead to rejections
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Predominantly paperless
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Involves paperwork
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Interest Rate & Other Charges
Interest Rate
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11.99% to 35.99%
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Processing Fee
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1% to 5% of total loan amount
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Loan Amount
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₹1,00,000 to ₹15,00,000
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Loan Tenure
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12 to 60 months
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