Qbera is a Bangalore based company that offers digital, quick & hassle free personal loan. Under the category, The borrower can get education, marriage, unsecured, used car & instant loan in just 24 hours. Loan amount ranges from ₹ 50,000 to a maximum of ₹ 7.5 Lakhs at the interest rate of 14% to 24% per annum. The repayment tenure of the loan taken ranges from 12 to 48 months and the administration fees ranges from 2% to 4%. The company started operating in January 2017 and since then, it has received 50,000+ loan applications and disbursed over ₹ 10 Crore worth of loan through its partner, RBL Bank. Before the official launch this year, the startup had processed 3,000 Personal Loan Application and aimed to disburse upward of ₹ 150 crore worth of loans in the next one year.
The startup was initially planning to reach 13 cities across India, including Kolkata, Cochin, Ahmedabad, Coimbatore, and Pune in six months, and launch operations in Chennai, Hyderabad, Mumbai, and Delhi/NCR by April. Now the company have started operating in Hyderabad and Pune with the view of expansion. So if you are a Hyderabad or Pune resident, then you can get loan instantly without any discrepancy.
Qbera Personal Loan facilitates easy access to funds for salaried individuals through a simple and convenient application process for unsecured loans, providing instant approval and loan disbursals.
In its next phase of regional expansion, Qbera plans to launch its operations in more Indian cities including Kolkata, Cochin, Ahmedabad, Jaipur, Coimbatore, and Indore by December 2017.
According to the officials of Qbera, their expansion plans are currently focused on launching our services across major cities and regions of the country. With the services now being live, and expansion planned across the country, the company aims to disburse Rs. 100 crore worth of loans by the end of FY 2017-18.