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Personal Loan Documents Required
Personal Loan Documents Required
Documents Required & Eligibility Criteria For Personal Loan
A personal loan is meant to provide monetary help to salaried individuals depending upon their monthly income and capability to pay back the loan amount and various other factors. The individual needs to provide a set of documents and pass the eligibility criteria for availing a personal loan. Qbera provides instant personal loans for salaried individuals starting from ₹25,000 to ₹10 Lakhs at an APR ranging from 11.99% to 24%. Loan tenure ranges from 12 to 36 months and the administration fees range between 2% to 3%. The two factors ‘documents’ and ‘eligibility criteria’ vary for different banks. Let’s take a look at the general documents required for a personal loan.
Documents Required for Personal Loan
Here are some of the documents you need to keep handy while applying for an instant personal loan:
Identity Proof
- Pan Card (Mandatory)
- Aadhar Card (Mandatory)
- Driving License
- Passport
- ID card issued by State Govt & Central Govt
Current Address Proof
- Pan Card
- Aadhar Card
- Driving License
- Passport
- LPG Gas Receipt
- Electricity Bill
- Mobile Postpaid Bill
- Water Bill
- Bank Statement with latest 1 month transactions
- Rent agreement with 2 month’s utility bill in landlord’s name.
Eligibility Criteria for Personal Loan
- Your age limit required for applying for a personal loan is 23 to 55 years.
- You must be residing in Delhi/NCR, Bangalore, Pune, Chennai, Mumbai and Hyderabad.
- You must be working for a Private Limited Company or a Public Company/Organisation.
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If you have taken a loan/credit card in the past
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If you haven’t taken any loan/credit card in the past
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You must have a net take home salary of Rs. 20,000 per month.
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You must have a net take home salary of Rs. 25,000 per month.
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You must not have any defaults in the last 24 months.
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You must not have any cheque bounces in the last 6 months.
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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
| Interest Rate
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11.99% to 35.99%
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| Processing Fee
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1% to 5% of total loan amount
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| Loan Amount
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₹1,00,000 to ₹15,00,000
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| Loan Tenure
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12 to 60 months
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Pradeep
"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."
Shekhar
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...
Syed
"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."
Anish
"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"
Arun
"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"
Bhaskar
"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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QBERA
We are a Bangalore-based company offering digital, quick, hassle-free personal loans to people when they need them.
Loan amounts range from Rs.1,00,000 to Rs.15,00,000. APR ranges from 11.99% to 35.99%. Loan lengths range from 12 to 60 months. Administration fee ranges from 1% to 5%.
* Subject to Risk Profile
Contact our support team via WhatsApp by clicking below:
[email protected]
1800 4198 121
+91 72080 56906
2nd Floor, Featherlite Vista Building,
MV Jayaram Road,
1st Main,
Vasanth Nagar.
Bangalore 560 052