Same Day Online Loans
Same Day Online Loans
Same day online loans have grown enormously in popularity today, thanks to the emergence of new-gen lenders such as Fintechs and P2P lending platforms. Online loans are nothing but personal loans that are available online. Lenders offering online loans usually allow applicants to complete the entire loan application process online. Fintech companies who are now prominent in the “same-day personal loan” lending space, offering loans only to salaried individuals with a net monthly income of Rs. 20,000.
What makes Qbera the leading player for Same Day Online Loans?
The truth is, although there are so many lenders operating in this space, not all of them have an integrated system in place that can process and disburse loans in quick time. Traditional lenders like private banks take at least 6 to 7 business days to process and disburse loan applications. So, if you’re applying for a same day personal loan, here is why you should choose Qbera without second thought!
A digital application process
Qbera’s application process is entirely digital – you can apply for the loan online and also submit your supporting documents online. There might arise the need to collect physical documents – this is if you haven’t availed a loan earlier and your KYC documents could not be verified digitally.
Instant approval and same day loan processing
Once you apply for a personal loan with Qbera, your loan application will be processed on the very same day after you receive instant approval based on your credit outlook. Qbera’s proprietary risk-assessment algorithm assess an applicant’s credit profile in real-time, and accordingly generates approval or rejection.
Same Day Online Loans for individuals with low credit scores
Qbera offers same day loans to individuals with low credit scores, much unlike private banks that require applicants to have a minimum credit score of at least 750 (some banks allow credit scores of 700 as well). Qbera offers personal loans to salaried individuals with a minimum credit score of 600.
Personal finance options for employees of unlisted companies
If you’re looking for a same-day online loan and you’re employed with a company that is uncategorized, i.e., not listed in the database of banks, you don’t need to worry – Qbera has got a loan for you. Traditional lenders will immediately reject your loan application if your employer is uncategorized or unlisted.
Loans for individuals living in shared accommodations
Are you staying in a Paying Guest accommodation or a shared apartment accommodation? Not to worry! Approaching a bank in a case like this will most certainly lead to rejection, but Qbera does not reject applicants merely on this parameter.
- 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%)
- You must be a Salaried Employee
- Age: 23-55 years old
- Net Monthly Income must be more than Rs. 20,000.
- No defaults in the last 24 months.
- You must be residing in Delhi/NCR, Bangalore, Pune, Chennai, Mumbai or Hyderabad.
Documents Required after Digital Approval
- Aadhaar Card
- PAN Card
- 4 Cheques from your Salary Account
- Current Address Proof
- Permanent Address Proof (in case the permanent address is different from the address on Aadhaar card)
"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"