India is riding at the helm of a digital revolution and the presence of smart online loans in India testifies to that. The smart country is moving smartly in the world of digital lending. The entire process of applying for a loan, documentation, verification is all being carried online. These smart loans have revolutionized the way India perceives financial shortfalls. Earlier banks were looked as the only way, which too much time and so were ineffective in case of urgent need. Fintech companies that combined technology and finance into a neat little package are ruling the arena now.
Qbera, a Fintech company offers smart online loans in India to the salaried.
Benefits of Smart Online Loans from Qbera
Digital process:
The loan application is in digital format. Login to the website www.qbera.com and fill in the application. A few personal and employment details are required to know if you are eligible. Once termed eligible, upload supporting documents to get personalized loan quote after verification. You can simply submit the bank statements and other documents online, but, there are a few physical documents that are needed. An executive collects these, so you do not have to run around for that. The documents needed are:
- Aadhaar Card
- PAN Card
- Proof of address
- Salary and income documents
- Photographs
Quick turnaround time
Once the documents are submitted and verified, you can expect the amount in your account within 24-48 hours. This is very helpful in case of an urgent fund requirement.
A low rate of interest
At 10.99% Qbera offers one of the best rates prevalent for a personal loan. This is not much higher than what is being charged for secured loans and so are berry competitive.
Long repayment tenure
The long repayment tenure starting at 12 months to 60 months ensures that the monthly payouts are not high. You can choose a longer tenure to bring the EMI down or vice versa keeping in mind your salary and other monthly obligations.
Loans to persons in low- income group
The low-income group faces immense difficulty in securing a personal loan. However, the highly advanced risk-calculation algorithm used by Qbera is effective in determining their credibility and so does consider their loan applications.
Considers persons with a low-CIBIL rating
Your CIBIL rating can be low due to a wide variety of valid reasons. This is why Qbera considers persons with a marginally low score of 600 for their loan while banks are stringent about the applicant having a score of 750 and more.
Highly flexible loans
These smart online loans are extremely flexible and can be used in unusual ways. It can be used to Fund marriage, education or pay medical bills. You can plan an exotic vacation or undertake home renovations. The scope of use is extremely wide and flexible.
Eligibility Criteria:
• You must be a salaried individual
• You must have a min net salary of Rs.20 000/-
• You must be above 23 years of age and less than 55 years
• A minimum CIBIL score of 600 and no defaults in the last 24 months
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