Credit Card Refinancing
Credit Card Refinancing in Pune
To thrive in today’s dynamic Fintech lending niche it is not enough to offer personal loans, they need to be personalized and need-based. This is exactly what we have tried to do when incepting our operations in Pune.
One of the products offered is a credit card refinancing loans. We are living in a world where credit is easily available, but repayment requires great discipline and meticulous planning even today. One should really want to be debt-free to start tackling debts strategically. Qbera realizes that the impact of debts can leave a dent on your personal and professional life and we are redefining the way loans are approved and disbursed in Pune.
DIVE INTO THE BASICS: WHAT IS REFINANCING
Many people become overwhelmed by their debts, but they don’t have to be. One way to help alleviate some of the strain is to consolidate debt from multiple sources. Essentially, debt consolidation takes all the money you owe credit card companies (and others if any) so far and make it one huge debt instead of many littler ones. When you are no longer bound by several due dates every month, it can be easier take on the bull by its horns.
REFINANCE CREDIT CARD LOAN WITH A PERSONAL LOAN:
Using a personal loan to pay off existing dues is quite straightforward. You apply for the required sum, choose a comfortable tenure and the interest rate is calculated accordingly (by examining your credit score and debt-to-income ratio among other things). One great perk of this method is flexibility. You may reduce or extend your tenure (within reasonable limits) as per your convenience.
FEATURES & BENEFITS:
You can borrow up to ₹10 lacs. Can you think of other ways to arrange such a big amount in 24 hours without much hassle? Not possibly.
Personal loans are the best choice if you have used your credit card for big ticket purchases and now wish to combine all the credit card debts to date and even out the burden of quick repayment over a longer tenure. You can get the money disbursed in your account in 24 hours as we follow a user-friendly and seamless procedure.
Over a couple of years. With a personal loan, you have a structured method to pay back your debt over a multi-year period without having to worry about promotional rates expiring. The interest rate will be much lower than letting it sit on a credit card. If you successfully pay off the loan, you’ll also demonstrate that you can maintain a long-term payment schedule and your credit score will rise.
Affordable Interest Rates
Personal loans usually have more competitive rates when compared to credit cards. This way, there is immense potential to save a lot. Our interest rates range from 11.99% to 24%. Improve Credit Score: If you think you will be able to pay the EMIs without fail and on time, this would be a great chance to improve your credit score. If you think that you might run the risk of defaulting, which can land you in trouble. No bank will offer you personal loans if you have a bad credit history.
POINTS TO REMEMBER BEFORE APPLYING FOR CREDIT CARD REFINANCING LOANS IN PUNE:
If you have more than one credit card with dues and EMIs piled up, consolidating them and refinancing it with a personal loan (at a lower rate) would ensure that you save a lot of money. But this decision should not be taken in haste. Given below are 3 points to keep in mind when you opt for refinancing loans.
Don’t choose the first offer that comes your way. Remember, if there is one, there are bound to be many. Make use of third party sites that will do all the inquiries and comparisons for you instantly.
Do not just look at the interest rate and decide. Rather, take a good look at the APR (Annual Percentage Rate) as well as other terms and conditions. Some lenders (even though they offer better rates) may have unshakeable prepayment policies, not to mention other fees and charges.
Use the personal loan disbursed to you only to close off your existing loans and not for any other purpose. Doing this would only increase your financial obligations and would defeat the purpose (settling debts and attaining more financial freedom)
As credit card refinancing loans are unsecured in nature, their interest rates would be slightly higher compared to secured loans. It would be unwise to use this money to invest. Investments are unpredictable at best and if it doesn’t go according to plan, you will be left with a hefty deft.
HOW TO APPLY FOR A CREDIT CARD REFINANCING LOAN VIA QBERA
Qbera application procedure takes the words ‘easy’, ‘quick’ ‘simple’ and ‘hassle-free’ among others to a new level. Given below are 5 steps to get it done the Qbera way.
Just log on to Qbera.com and fill in the application form (it barely takes 5 minutes)
Upload your bank statement on the website
Qbera gives you an offer within 4 hours
Our representative will come and collect the documents
Money transferred to your account in less than 24 hours
Qbera may be able to help when you need it the most. Apply now for a smart hassle-free loan in pune.
1. What is the tenure of a personal loan from Qbera?
The loan tenure at Qbera is a flexible one and it ranges from 1 to 5 years (12 to 60 months).
2. What is an EMI?
It is the fixed amount that a borrower pays to the lender on a particular date every month. An EMI includes the principal and interest charged on a loan.
3. What is the minimum and maximum loan amount that I can get from Qbera?
The loan amount ranges between Rs. 25,000 to Rs. 10 Lacs.
4. What is unique about Qbera?
Our technology and lending partnership allow us to offer a world-class experience to our borrowers:
- Paperless application
- Instant lending decision
- Digital verification of income, employment and residence
- Disbursement of loan within 24-48 hours
Our CIBIL score cut-off is 625 and we can give loans to employees of more than 9 lac companies in India. Now you don’t have to get rejected by banks just because they have not analyzed and categorized your employer.
5. What should be my age to apply for a loan with Qbera?
You must be at least 23 years old to apply for a loan.
6. What should be my minimum salary to get a loan?
Your net monthly income must be Rs. 20,000 or more.
7. What should be my CIBIL score cut-off for a personal loan?
Our CIBIL score cut-off is 625 (V2 score).
8. What is the rate of interest charged on a personal loan?
Rate of interest depends on a borrower’s income, CIBIL score, employer, age etc. Qbera collects information from your application form and various other data sources to create a personalized loan offer for you. Our interest rates start at 11.99%.
9. What is the eligibility criteria to get a loan from Qbera?
To get a loan from Qbera, a borrower should meet the following eligibility criteria:
- Must be a salaried employee.
- Age must be between 23-55 years.
- Net monthly income must be Rs. 20,000 or more.
- No defaults in the last 24 months.
- You must be residing in Delhi/NCR, Bangalore, Pune, Chennai, Mumbai or Hyderabad.
10. How do I apply for a loan online?
To apply for a loan online, click here. For queries, please Whatsapp us on +91 89719 28484.
11. What are the documents required to get a loan from Qbera?
The following documents would be required after your loan is digitally approved:
- Aadhar 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 Aadhar card)
- Passport size photo
12. What is the processing fee charged on a personal loan by Qbera?
The processing fee ranges between 2% - 4%.
13. How can I repay my loan?
Qbera provides easy repayment of its smart loans through automatic debit of EMIs via NACH mandate.
14. Why was my loan application rejected at Qbera?
Although we have one of the best approval rates in the industry, we may have to reject some applications if they do not meet our basic qualification criteria. You can re-apply after 3 months in case you think that your credit profile has improved.
15. Can I re-apply for a loan?
Qbera requires you to wait for at least 3 months before re-applying for a personal loan.
16. How much time does Qbera take to process a loan application?
It will not take more than 10 minutes to fill up your online application form. Our technology allows us to disburse the approved loan amount within 24-48 hours.
17. Is part/prepayment allowed on my personal loan?
We do not allow part-payments. However, you can prepay your loan after completing 1 year of repayment. (Foreclosure charges: 5% + GST applicable).
18. Do I need to submit any collateral to get a personal loan from Qbera?
All personal loans offered by Qbera are unsecured. Hence, you need not submit any assets or property to secure a loan.
Interest Rate & Other Charges
||11.99% to 35.99%
|| 1% to 5% of total loan amount
||₹1,00,000 to ₹15,00,000
||12 to 60 months
- 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.
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"
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