What is the process of apply personal loan online

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  1. Aman Khanna

    Aman Khanna New Member

    I want to apply for personal loan online please can anyone guide me how to apply and what are the major and minor steps I need to follow for instant approval.
  2. Diksha321

    Diksha321 New Member

    The process of Applying Personal Loan Online:
    Getting an Instant Loan via Qbera is as easy as buying grocery online. It’s a simple five step process:
    1. Log on to Qbera.com and fill in the application form (which takes just about 5 minutes)
    2. Upload your bank statement on the website
    3. Get an offer from Qbera within 4 hours
    4. A representative from us will come to you, at your convenience and collect the required documents.
    5. Once approved, the amount will be credited in your account in less than 24 hours.
  3. ankitadixit

    ankitadixit New Member

    Before applying for any personal loan you need to select a bank that suits your requirements the best.Either going door to door of every bank you can better compare your personal loan’s interest and benefits online , it not only gives you the better suggestion but also provides you the clarity. Also, try not to apply for too many banks together, that may give your wrong impression. So, here are the basic requirements you need to fulfill for online application.

    Minimum requirements for the application:
    • Credit score: Most banks scrutinize credit score as first priority. Not keeping it on the higher end can lead to rejection of the application. Average accepted score is 750 or more.

    • Debt to income ratio: This means the difference between your income and debt, this criterion assess the loan repayment capacity of the person.

    • Annual income: Different banks have different annual income standard for the eligibility of loan.
    Eligibility criteria for personal loan:
    • Active saving or checking account is important.

    • The person should be minimum 21 years or above. (Different for salaried and self employed)

    • Applicant should be the citizen of the country he is applying into.

    After fulfilling these requirements, as the first step of the registration ,following are the basic documents required for applying the personal loan , here scanned copies of the documents are to be uploaded online:
    • Properly filled application form

    • ID proof (Pan card/ Aadhar card/ voter’s ID card) Any one of them to provide your name against your photo.

    • Your KYC details are to be filled.

    • Address proof (Passport/ voter’s ID card/ ration card/ driving’s license /bills addressed to your current permanent address)

    • Your income proof (3-6 months of salary slip for salaried and bank statement of 6months -1 year for self employed)
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