Unsecured personal loans are loans that aren't involved with any form of collateral. Qbera offers unsecured personal loans to salaried individuals at flexible tenures. If you are looking to apply for an unsecured personal loan in India, an unsecured loan from Qbera can be the most fitting option suitable to your needs.
Unsecured Personal Loans with Qbera - Why choose Qbera for your unsecured loan?
If you're thinking of applying for an unsecured personal loan, here are some reasons why you should choose Qbera for your personal loan needs:
Unsecured Personal Loans for individuals with low credit
Qbera offers unsecured personal loans for individuals with low credit. In order to become eligible for an unsecured personal loan with Qbera, you should have a minimum credit score of 600.
Unsecured Loans for low-income individuals
Most traditional lending institutions require you to have a minimum income of Rs. 30,000 to be eligible for an unsecured personal loan. Qbera, on the other hand, requires you to have a minimum income of just Rs. 20,000 per month to become eligible for an unsecured personal loan.
Unsecured Personal Loans for employees of unlisted companies
Even if your employer is not a listed company, it doesn't matter. While traditional lenders reject applications of individuals working in unlisted companies, Qbera offers unsecured personal loans to individuals of unlisted companies as well.
Unsecured Loans for individuals living in shared accommodations
Even if you are living in a shared accommodation, Qbera can offer you an unsecured personal loan, much unlike private banks that don't entertain applications from individuals living in shared accommodations.
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Interest Rate & Other Charges
Interest Rate
|
11.99% to 35.99%
|
Processing Fee
|
1% to 5% of total loan amount
|
Loan Amount
|
₹1,00,000 to ₹15,00,000
|
Loan Tenure
|
12 to 60 months
|
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.
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.
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.
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:
- 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%)
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