Education Loan in Pune
Education Loan in Pune
EDUCATION LOANS OVERVIEW
Education is the only way one can overcome social and financial barriers. As per the recent study conducted by the Institute of US-India Policy in Washington, only 1 in 10 students in India have access to college education. Be it your kids school or college education or your own studies that require funding, an education loan can help fulfill these aspirations.
It is not uncommon for couples to state escalating school fees as one of the major reasons for them to opt to have only one child. It is always a terrible for parents when the academic year commences as private schools increase their fees immensely and there is no law to check this too. In some cases, it is as much as the annual income of the family. Therefore, it is no wonder parents find it excruciatingly hard to pool up enough money for their kids’ education. Same could be said for college courses and career enhancement courses. While they do promise a bright and stress-free future. A Student Loan usually covers the tuition fee, cost of study materials (books, laptop, lab fee etc.), exam fee, hostel fee, transportation cost fees and library fee among others.
Pune is the quieter sister of Mumbai but enjoys the moniker, ‘the Oxford of the East’. This is attributed to the fact that it is home to more number of educational institutions and universities than any other Indian city. Even with subsidy, students do not find these institutions affordable and end up taking a personal loan in their name or their guardian’s name. While many lenders offer student loans to students, Qbera offers personal loans at an attractive rate of interests to parents/guardians who earn a fixed and steady income. Let us explore the scope of education loans in Pune in detail.
WHO CAN AVAIL EDUCATION LOANS IN PUNE?
Any Pune resident, who is salaried and earns at least Rs. 20,000 in hand per month can apply for an education loan from Qbera
The applicant must have at least 2 years of work experience and should have a minimum CIBIL Score of 625.
The loan seeker’s debt-to-income ratio should be less than 40 percent.
FEATURES & BENEFITS OF STUDENT LOANS IN PUNE
Quantum of loan
You can apply for a loan of up to ₹10 lacs. The minimum amount we offer is ₹25,000. You may opt for a top-up after six months if you have made timely EMI repayments.
We do not take any security as our education loans are personal loans aka unsecured loans. However, we do take 4 to 6 signed blank cheques from the applicant, which we use in case you default.
We offer flexible tenures that range from 12 to 36 months. The longer the tenure is, the lesser the EMI would be and vice versa. You can adjust your tenure accordingly to repay the loan comfortably.
Our interest rates range from 14 to 24 percent as we follow a risk-based criteria. You will be levied interest according to your credit profile. For instance, if you have defaulted in the past, it could affect the price of your loan.
WHY CHOSE QBERA EDUCATION LOANS?
With the daily struggle to meet both ends, education expenses can seem backbreaking. This is where Qbera offers a helping hand and gives you personal loans at competitive rates and adjustable tenures.
You can access Qbera education loans anywhere anytime as we take care of the entire process online. All you need is an internet connection. You may visit the website and apply directly or get in touch with our official directly via phone, email or Whatsapp.
Our products are highly personalized and we design the loans as per your needs and credit-risk. With an all-inclusive education loan, various facets of the programme can be easily addressed without any added risk of falling short of cash midway.
HOW TO APPLY FOR AN EDUCATION LOAN VIA QBERA
Qbera application procedure takes the words ‘easy’, ‘quick’ ‘simple’ and ‘hassle-free’ among others to a new level. Check out the 5 stress-free 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.
- 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"
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