Get urgent cash loans online at competitive interest rates if you are a salaried individual with a minimum net monthly income of at least Rs. 20,000 per month.
Features and benefits of urgent cash loans from Qbera
Loans for individuals with low CIBIL scores
Qbera offers cash loans to individuals with low credit scores. The minimum credit score to apply for an immediate loan from Qbera is 575. While Qbera allows individuals with low credit scores to apply for loan, applicants applying for loans with Qbera should not have instances of defaults in the last 12 months.
Digital Process and Approval
The application process with Qbera is completely digital and paperless. Supporting documents can be submitted online. Bank statements can be submitted through a secure web channel using netbanking credentials.
Immediate Loans for persons with low income levels
Qbera offers immediate online loans to individuals with an income of at least Rs. 20,000 per month. This is one aspect where Qbera stands out against its competition, as most private banks have a minimum income requirement of at least Rs. 30,000 per month.
Flexible repayment tenures and a wide choice of loan amounts
Instant Loans from Qbera come with tenures that fall between 6 months and 60 months. Loan amounts range from Rs. 50,000 - Rs. 25,00,000. Applicants can choose a tenure based on their repayment capacities.
Instant Online Loans for individuals employed in unlisted companies
Qbera offers online personal loans to individuals employed in unlisted companies as well. Also, individuals residing in shared accommodations can apply for an immediate loan with Qbera.
Eligibility for Urgent Cash Loans from Qbera
- You should be at least 23 years of age
- You should have a minimum CIBIL score of 575 and a minimum income of Rs. 20,000 per month.
- You should be salaried and have no instances of defaults in the last 12 months.
View a complete list of our FAQs at our
help center
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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