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  • Personal Loan BYTES FROM OUR KITCHEN

    Qbera Instant Cash Loan

    When in need of a loan, it can be quite disheartening to have to run around town in search of a lender who is willing to make an offer to you. However, with the emergency of several online lending start-ups, this often-harrowing process has certainly become a lot easier for prospective borrowers. One such online lending startup that has been making waves in Qbera, a Bangalore-based company which has been set up with the aim of digitally providing salaried and employed individuals with hassle-free, secure and quick access to instant personal loans in times of need.

    Speaking of loans, the company not only provides loans to salaried individuals, but also to self-employed individuals. Let’s find out more about the instant loan product offered by Qbera, its eligibility criteria, and how you can apply for this loan.

    Qbera Instant Cash Loan - Features and Benefits

    • No collateral required – Qbera offers instant personal loans that are unsecured, which means you do not have to pledge any asset/security as collateral in order to apply for the loan.
    • High quantum of loan - Qbera offers a flexible range when it comes to the loan amount. One can avail loans starting from Rs.50,000, up to Rs.25,00,000.
    • Quick turnaround time – One of the noteworthy features of this instant loan is the quick turnaround time, which the company claims, is one of the lowest. Counting from the time you have submitted your documents, received approval on the basis of your credit score, and have had your documents verified, your loan amount can reach your bank account within a short period of 24 hours. Document, address, and identity verification is carried out digitally.
    • Choose your tenure – When it comes to tenure, Qbera personal loans are available for tenures that are similar to conventional personal loans offered by traditional lenders like banks. The tenure typically ranges from 12 months to 60 months i.e. 1 year to 5 years. Borrowers also have the option to alter the loan repayment tenure and even pre-close the loan, as per their convenience and financial situation.
    • Transparent application process – One of the most important features of the Qbera loans is that the entire loan process of transparent. The borrowers will be intimated about all fee and charges applicable to the loan, prior to applying for it. This means no nasty surprise of hidden charges later on.
    • Security of personal details – One of the most common apprehensions that a borrower has is regarding the safety of their personal details, especially when the same is shared with a lender to avail a service. Qbera ensures that the personal/financial details of their customers are kept securely and not shared.
    • Low credit score is not a problem – The most common reason that borrowers are denied a loan is due to their low credit score. With Qbera, that is not the case. Borrowers with low credit scores too can find themselves to be eligible for an instant loan. The minimum score that is required to apply for this loan is 600 and above.
    • Experience quality customer service – When availing a financial service, customers are bound to have multiple queries. Qbera has taken care of that by setting up a dedicated and competent customer support team that can be reached on 1800-4198-121 (toll free). The timings for the toll-free helpline are between 9:30 a.m. and 7:00 p.m. (weekdays), and 10:00 a.m. to 1:00 p.m. (weekends). Customers can also contact the support team using Whatsapp, the number for which is +91 89719 28484. The customer support team can also be contacted via email, the address for which is contact@qbera.com.

    Qbera Instant Cash Loan – Interest rate

    The Qbera personal loan interest rate ranges from 11.99% to 24%. The terms of the loan offered to each borrower will vary depending on various parameters such as their repayment ability, work experience, age, current employment, repayment history, and  their credit score.

    Eligibility for Qbera Online Instant Cash Loan

    Given below is the eligibility criteria to be followed in order to be eligible for an instant cash loan from Qbera.

    1. Borrower must be employed and drawing a minimum income of Rs.20,000.
    2. Borrower must be aged between 23 years to 55 years.
    3. Borrower must have the minimum required credit score to apply for the loan.

    Documents required to apply for Qbera Instant Cash Loan

    Given below is the list of documents required to apply for the Qbera personal loan.

    1. Aadhaar Card and PAN Card
    2. Proof of current place of residence
    3. Proof of permanent place of residence (if permanent address not the same as the one given on the Aadhaar Card)
    4. Cheques from your Salary Account

    How to apply for a Qbera Instant Cash Loan

    1. Fill the online application form
    2. Head over to the Qbera site and fill in the instant cash loan application form available there. The form will require you to provide some information about yourself such as your personal details, employment details, education-related details, your needs, and expense-related details. This entire process takes less than 10 mins to complete.

    3. Provide bank statements
    4. Next, you will need to furnish your bank account statements as a part of the loan application process. You can do so by connecting to your bank account, or can even upload the PDF account statements that are periodically prepared by the bank and sent to you.

    5. Choose the loan term
    6. After you have provided all the necessary information, Qbera will assess your loan eligibility with the help of their Credit Scoring Algorithm. This algorithm evaluates, in real-time, a borrower’s future financial capacity using the information provided by the borrower in the loan application, in order to ofer them the best rate.

    FAQs on Qbera Personal Loan  

    1. Can I re-apply for the Instant Cash Loan if my application gets rejected the first time? If yes, how long do i have to wait before re-applying?
    2. Yes, you can re-apply for the loan if your application has been rejected the first time, which may happen if you haven’t met the required eligibility criteria. You can re-apply for the loan after an interval of 3 months.  

    3. My credit score is above 600 but I have also had 1-2 payment default cases in the past 2 years. Would that affect my loan eligibility?
    4. Qbera has a pre-set criteria when it comes to loan eligibility. In order to be eligible for a Qbera Instant Cash Loan, the borrower will have a better chance at getting approved for a loan of they have not had any default cases in the last 24 months. However, if there has been a default(s) in the past 2 years, Qbera will assess all other parameters based on internal standards before approving the loan.

    5. What is the maximum and minimum tenure for which i can avail this loan from Qbera?
    6. Borrowers can take this loan for a minimum term of 12 months, and a maximum term of 60 months. Loan tenure must be decided carefully after assessing one’s repayment ability, income, and the loan amount taken.

    7. CanI apply for this loan online?
    8. Yes, you can easily apply for this loan by visiting the Qbera website and navigating to the section of Instant Cash Loans.

    9. Do I need to have a minimum credit score to apply for this loan?
    10. Yes, as per Qbera’s loan eligibility criteria, applicants will be required to have a minimum credit score of 600.

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