Unsecured Cash Loans
Unsecured Cash Loan
The Unsecured cash loan has emerged as the best possible source of instant funds. Whatever the need, these flexible cash loans can be a lifesaver. Planning for your marriage or your dear one’s marriage, opting for a certificate course that will take your qualification to the next level, renovating and upgrading your home - all these and more can be managed with an instant cash loan. With rising costs and expenditures, it is at times, not viable to use a large chunk of savings to pay for something. It is also not possible to plan an exotic vacation with the prevalent sky-high prices, but with a personal loan, you can go on your dream vacation.
Banks, NBFCs and Fintechs are actively catering to the requirements of personal loans. And while typically banks have a huge amount of paper-works and waiting periods, Fintechs promise instant online loans that reach your account within a day or two. Qbera promises the amount in your bank account within 24 hours of successful verification of your documents. The high point or online loan from Qbera is the elimination of the need to physically visit a branch and submit documentation. With the click of a few keys, you can enter your information, submit the required documents and get the amount required.
Advantages of Unsecured Cash Loans from Qbera
Online process: The process is completely digitized with the documents being submitted online and the approval is done instantly online. Qbera promises the amount in your bank account within 24-48 hours of successful verification.
Economical interest rate and repayment tenure: With an interest rate of 11.99% and a long repayment tenure that spans up to 5 years, an unsecured cash loan is quite economical.
Low- income group: Those who fall into the low-income category faces a lot of trouble in securing a loan. Qbera caters to this group and you can apply for a loan if you have a minimum take-home salary of Rs 20,000.
Low CIBIL considered: Banks usually look for a CIBIL score of 750 and above for personal loans. If you happen to fall below this, the application is usually rejected. But with Qbera a marginally low score is also considered as Fintechs do not rely solely on the CIBIL ratings.
Loan for individuals in shared accommodation: There are many who stay as paying guests or are in shared accommodation with friends in the city. Banks do not consider such individuals for a personal loan and Fintechs are the only respite for such individuals seeking unsecured cash loans in the city.
Eligibility criteria for unsecured cash loans in India
- salaried individual
- A minimum monthly net salary of Rs.20,000/-
- Age between 23 years and 55 years
- A Minimum CIBIL score of 575
- No defaults in the last 24 months
Although the process is completely online, there are a few documents that have to be submitted. Even then, you are not required to step out of your house as an executive from Qbera, visits you and collects the same. Note that not all these documents need to be submitted physically - salary slips and bank statements have to be submitted online.
- Aadhar card
- PAN card
- Salary Slips and bank statements - to be submitted online
- Address proof
- Cheque leaves
- 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%)
- 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.
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"