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Travel Loan SBI vs Travel Loan Qbera

Instant Travel Loans
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Loan amounts range from Rs.50,000 to Rs.25,00,000. APR ranges from 10.99% to 35.99%. Loan lengths range from 12 to 60 months. Administration fee ranges from 1% to 5%.

Travel Loan SBI vs Travel Loan Qbera

Traveling opens up one’s mind to infinite possibilities and helps refresh the body and soul to limitless probabilities. Thanks to the increase in living expenses, it is incredibly difficult for individuals as well as households to set aside a sum to fund their vacations. Exotic and foreign destinations require extra funds that just may not be possible in monthly paychecks. Instant cash loans are an excellent option to fund travel. These are extremely flexible and so can be used to manage all aspects of travel from lodging to shopping. Though the first instinct is to use one's the savings rather than avail credit, it is not a very prudent choice. There are many ‘what if’ situations that can happen while traveling and it is just not smart to travel without back-up. Availing a personal loan gives you the freedom to travel without worry and use your saving only in case of an eventuality.

Traveling is gaining popularity and so all financial institutions have offers for individuals seeking a personal loan for travel. These are personalized travel loans with an interesting rate of interest and long repayment tenure. Flexible repayment tenure ensures that your monthly budget is not disturbed after you come back from your refreshing holiday.

Let’s look at the offers of two financial institutions offering instant personal loan for travel.

SBI Travel Loan

SBI or the State Bank of India is the largest government-owned bank in India. Taking into consideration various segments of borrowers, there are many personal loan options to choose from. A personal loan from SBI can be used to fund your travel and these come in attractive interest rates. Age plays a key role in determining loan eligibility and the repayment capacity. Job stability is another criterion of importance.

  • Loans available from as low as Rs.10,000.
  • Loan repayment tenures ranging from 12-60 months.
  • Monthly net Income of Rs 24,000
  • Preferred age group of 21-58 years
  • Low pre-closure charges
  • Minimal documentation
  • No administrative charges

Qbera Travel Loan

Fintechs use an amalgamation of finance and technology to offers outstanding personal loan for travel. For travel to exotic destinations and all related expenses, salaried individuals can opt for these. Those with marginally low credit score are also benefitted as using the latest risk-calculation algorithms, Qbera is able to determine borrower credibility much more accurately.

  • Low- income groups are considered
  • Marginally low CIBIL score is considered
  • Individuals in shared accommodation are considered
  • Preferred age group of 23-55 years
  • A modest rate of interest
  • Long repayment tenure spanning 5 years
  • Multi-purpose

Travel Loan SBI vs Travel Loan Qbera


SBI Travel Loan
Qbera Travel Loan
Rate of Interest
Starting at 11.75%
Starting at 10.99%
Tenure
5 years
5 years
Loan amount
Up to Rs 15,00, 000/-
Up to Rs 25,00, 000/-
Disbursal time
Not specified
24-48 hours max
Processing Fee
1% of the Loan Amount + applicable Service Tax
1%-5%
CIBIL score 
750 and above
600 and above
View a complete list of our FAQs at our help center
Getting a Qbera Smart Loan is Simple
Fill out our online application form
Step 1: Online Application Form
Get approved instantly
Fill out our online application form by answering a few questions about yourself, your employment, your education, expenses and needs. This process would take no longer than 10 minutes.
Connect your Bank Account
Step 2: Connect bank account
Submit your bank statements
Connect securely to your bank via netbanking and submit bank statements as part of the easy loan application form. Alternatively, you can upload bank generated pdf bank statements.
Select your loan term
Step 3: Loan term
Choose your Loan Term
Using our proprietary Credit Scoring Algorithm we determine your loan eligibility in real-time. Our algorithm uses the information about you, to determine your future potential and help you get the best rate instantly.
You’re done! Get the money in your Bank Account as early as tomorrow.
Example: A loan offer of ₹2 lac, for a tenure of 3 years at an interest Rate of 16.6% (on a reducing principal) and a processing fee of 2.5%. Translates to:
  1. 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
  2. EMI of ₹7091 per month
  3. Total payable amount in 3 years = 36 times ₹7091 = ₹2,55,276
  4. 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%)
Repaying a Qbera Smart Loan is just as Simple
Repay your loan with automatic EMI payments.
  • Age: 21-57 years old
  • Net Monthly Income must be more than Rs. 18,000.
  • No defaults in the last 24 months.
  • You must be residing in Delhi/NCR, Bangalore, Pune, Chennai, Mumbai, Hyderabad, Jaipur, Ahmedabad or Kolkata.
  • 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)
Pradeep

Pradeep

"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."

Shekhar

Shekhar

"I would like to thank Qbera for speedy loan processing. I was having a tough time in deciding which bank would actually take my request for a loan as the loan was supposed to be for credit card payoff. I was forced to use my credit card for an unforeseen expense which I could not avoid and was finding it tough to pay back due to the high interest cost on credit cards. 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...

Syed

Syed

"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."

Anish

Anish

"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"

Arun

Arun

"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"

Bhaskar

Bhaskar

"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"

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QBERA

We are a Bangalore-based company offering digital, quick, hassle-free personal loans to people when they need them.

Loan amounts range from Rs.50,000 to Rs.25,00,000. APR ranges from 10.99% to 35.99%. Loan lengths range from 12 to 60 months. Administration fee ranges from 1% to 5%.

* Subject to Risk Profile

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