Instant Personal Loan for salaried individuals

Facing potential rejection because of staying in a shared accommodation? An instant loan from Qbera has you covered!


There is an increased exodus of skilled workers from small cities and villages towards cities, owing to better job and growth opportunities present in metropolitan and cosmopolitan cities of our country. Inflation today is rampant and so is its impact on all spheres of life. Finding cheap and affordable accommodation in such setups is quite difficult. And well, what is the point of staying in a city and earning more, if you end up spending all your earnings to just reside in the city? If you are staying in a shared accommodation, don’t worry, Qbera offers instant personal loans to individuals staying in shared accommodations.

The concept of shared accommodations has therefore gained popularity especially among bachelors and young professionals with families in their respective hometowns that aren’t located in Tier-I cities. This is definitely a pocket-friendly option and also comes with other advantages, with the key advantage being the ease of relocation, both within the city as well as outside as changing jobs and cities is quite the norm nowadays. This win-win situation, however, spells disaster when one applies for an online personal loan.

Instant Personal loans are unsecured loans that are given out by financial institutions like Banks and Fintechs. These multi-functional loans are ideal to manage any kind of financial shortfalls and is definitely a more secure way of managing financial obligation rather than approaching private lenders. Although there is a higher interest rate associated, it can be compensated to the ready availability and the unsecured nature of the loan. Personal loans are without a doubt the ideal solution at your fingertips. Choose for a loan from Fintech companies like Qbera that boasts of completely digitized operations which includes online approvals as well as documentation and receive the loan amount in your bank account within 24-48 hours.

Although instant loans are the best solution when in need of money, there are many checks in place and lenders comprehensively check the creditworthiness of an applicant. Each and every fact is meticulously assessed as these are the unsecured loan and there is no asset attached from which the lender can recover the amount in case of a default in payments.

Staying in shared accommodation invariably increases the risk profile of an applicant and may lead to either a loan rejection or a high rate of interest. But, if you are married, earns a decent salary and has been consistent in the job and place of stay, there is a high likelihood of your application being accepted. Qbera, however, does consider applicants in shared accommodations, but make sure that you meet their minimal eligibility criteria.

The eligibility for a Qbera personal loan:

  •    You must be a salaried individual
  •    You must have a min net salary of Rs.18 000/-
  •    You must be above 23 years of age and less than 55 years
  •    A minimum CIBIL score of 600 and no defaults in the last 24 months

Being a Fintech lending company that extensively uses technology to further its agenda, the application process is completely digitized. The documentation can be done online – you can upload the required documents. But, there are a handful of documents that have to be submitted in the hard copy format. An executive will be assigned to collect the same from the doorstep.

The documents are:

  1.    Aadhaar Card
  2.    PAN Card
  3.    Proof of address
  4.    Salary and income documents (can be submitted online)
  5.    Photographs


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