SBI wedding loan Vs Qbera Wedding loan

Celebrating the milestones in one’s life makes one appreciate the small joys of life and inspires one to be thankful for the experiences that have been gathered. Marriage is a major milestone in our life as it marks the beginning of a new life along with a partner. Celebrating their child’s marriage is one of the major life goals for parents. It is definitely a joyous occasion and all the festivities means that much use of funds to make all the preparation and the occasion picture perfect.

Not many can afford to have ready cash to take on celebrations of such magnitude. This is where personal loans have stepped in with instant cash, easy approvals and competitive interest rates. Personal loans have made sure that parents or even the couple do not end up liquidating their assets or investments. These extremely flexible wedding loans from Banks, NBFCs and new age Fintech companies can be used as per your discretion and requirement. From payments of wedding venue, catering and decoration to jewelry and bridal costume, you can choose to spend the money as per your discretion.

Here is a glimpse of two financial institutions offering instant personal loan for a wedding.

SBI Wedding loan

A personal loan from SBI offers cash loan to cover the wedding expenses. The maximum loan amount that can be availed is Rs 15,00,000. These loans can be availed by government employees as well as persons who are existing customers with a net monthly income of Rs 5000/-

• Low interest rates
• Low processing charges 
• No hidden cost / administrative charges 
• Minimal documentation
• No prepayment penalties

Qbera Wedding loan

Fintechs are new age financial institutions who use advancements in technology extensively. Qbera offers instant personal loan to pay for wedding expenses to persons who have been facing rejection due to low CIBIL score. Advances risk calculation algorithm is able to determine the credibility of an individual based on other social and economic factors.

• Competitive interest rates
• Low income of Rs. 18,000 per month are considered
• Negligible processing charges 
• Flexible use of funds
• Minimal documentation
• Low CIBIL score considered

Here is a tabular snapshot for easy reference:

To apply for an instant loan from Qbera, you just need to login to the website www.qbera.com and fill in the required personal and employment fields. The eligibility for a loan is instantly communicated to you. After which, more information pertaining to residence and income documents such as salary slips, and bank statements can be uploaded securely. After the documents are verified and other internal criteria are met, a personalized loan offer is made.

Once the loan offer is accepted and all the verifications are successfully completed, the amount is transferred to your bank account within 24-48 hours.