What are Unsecured Loans?Unsecured loan is the kind of loan that doesn’t need any collateral to be put forth by the borrower. It’s as simple as that. In this kind of loan, the lender is faced with more risk than when there is a collateral put up for the borrowed sum. The higher risk means that the lender will charge more interest. The lender will approve an unsecured loan application if they have confidence that the borrower will repay the borrowed amount. The lender will judge the borrower based on their previous debt habits or credit score. Each lender will have a different cut-off for the minimum credit score that they expect the borrower to have. At Qbera, we need customers to have a minimum credit score of 625.
How to Apply for Unsecured Loans from Qbera:Getting an unsecured loan via Qbera is as easy as buying chocolate online. It’s a simple five step process:
Features & Benefits of Unsecured Loans:
Unsecured Loans mean that loan is offered without having to put up collateral. Your credit score and employment status determines your eligibility to avail a loan from us.
Application, approval and disbursement of your funding can be done in just a day!
You can avail one lump sum (from Rs. 50,000 and up to Rs. 7.5 lakhs) to cover all your financial needs together.
We uphold a policy of being 100% transparent when it comes to charges and fees. All charges will be clearly indicated at the time of availing the loan so that you are not surprised with any unknown charges later on. The processing fee that is charged on the loan is just 2-3% (which is based on the amount borrowed). Other charges like prepayment charges, late payment fees, ECS/cheque bounce charges and special service request charges are as per the RBL norms.
The support that we provide is unlike any other in the market. Our staff will hold your hand from the very first step of deciding how much you can borrow to the very end when your loan is paid off. The Qbera staff is available anytime between 10AM and 6PM IST on weekdays. On weekends, they are available between 10AM and 1PM. The Whatsapp number that you can reach the staff is +91 89719 28484. You could also send a mail or message on the website’s chat, which will be replied in just a day.
Eligibility Criteria for Unsecured Loans IndiaYou are eligible for an Education Loan from Qbera if:
Required Documents for Unsecured Loans:
Unsecured Loan Interest Rates:On par with the current market rates, the APR charged by Qbera is between 14-24%.
Differences between Secured & Unsecured LoansWhen you are in need of money and need to take out a loan to meet the need of the hour, one decision that you will have to make is whether to go for an unsecured loan or a secured loan. Here is a short explanation about the difference between the two and what you should expect from them:
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.7,50,000. APR ranges from 14% to 24%. Loan lengths range from 12 to 48 months. Administration fee ranges from 2% to 4%.
* Subject to Risk Profile