Qbera Expands Operations in Hyderabad & Pune

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

Get Bandhan Bank Loan at 3% Lower Rate. Know How

There is a good news for the loan borrowers from Bandhan Bank, They can now get loans at 3% lower rate. The customers who are willing to pay their loan EMI (Easy Monthly Installments) at the bank branches are eligible for this offer and can get loan at 3% lower rate. According to the officials, the bank also provide doorstep services for the collection of installments, but the customers who avail such service are bound to pay more.

Kolkata-headquartered Bandhan is the first bank to be set up in eastern part of India after Independence. Currently, The Bank has 3,667 touch points pan India consisting of 840 bank branches, 2,444 Doorstep Service Centres (DSCs).

The variations in the price are due to these changes in the services provided by the bank. Bandhan Bank Loan can be taken without any hassle and now that the bank has given a way to save there money, it is the best resort of the loan availers.

Not for every loan, the bank is offering less rates. These 3% lower rates are only for micro loans that comes with a cap of ₹ 1.5 lakhs.

Micro loans are provided to start your home based business. You can easily invest in your business, adding the extra income to the family. Suchana, Srishti, Suraksha, Susikhsha are the types of micro loans offered by the bank.

The details for Bandhan Bank Micro Loans Amount are given below in the table.

TYPES	Minimum Loan Amount	Maximum Loan Amount	Loan Tenure
Suchana	₹ 1000/-	₹ 25,000/-	Up to 1 Year
Srishti	₹ 25,000/-	₹ 1,00,000/-	Up to 2 Years
Suraksha	₹ 1000/-	₹ 10,000/-	Up to 1 Year
Susikhsha	₹ 1000/-	₹ 10,000/-	Up to 1 Year

SBI Revises Home & Car Loan Interest Rates Effective from 1st November 2017

SBI updated it’s home loan & car loan interest rates on 2^nd November 2017. This has been done post MCLR (Marginal Cost of Lending Rates) rate cut on the very first day of November month.

According to the officials, These rates may vary depending upon the amount of loan and the credit score of the borrower.

Bank has reduced home loan interest rates to 8.30% per annum while rates on auto loans has been lowered to 9.20% per annum. With this reduction, SBI’s offering in the home loan segment has become the lowest in the market as claimed by the banks. The new rates will be effective from November 01, 2017.

The effective SBI Home Loan rates for all eligible salaried customers will be 8.30 per cent per annum for loans up to Rs. 30 lakh. Rates have been reduced by 5 basis points (0.05 per cent) in all other loan brackets. Over and above of 8.30 per cent rate, an eligible home loan customer can also avail of an interest subsidy of Rs. 2.67 lakh under the Pradhan Mantri Awas Yojana Scheme.

However if you want to avail car loan, Interest rates ranges from 8.70% – 9.20% p.a compared to the earlier 8.75 – 9.25% p.a.

According to the officials, These rates may vary depending upon the amount of loan and the credit score of the borrower.

SBI PERSONAL LOAN FOR GOVERNMENT EMPLOYEES

SBI Provides Personal Loan for Government Employees i.e To the employees of under noted entities maintaining salary account with SBI at zero margin.

Central and State Government, Quasi- Government, Central PSUs, Educational Institutions of National Repute, Selected corporates who have business relationship with banks are eligible to apply for personal loan.

All the other important information regarding the Personal Loan is given below;

Quantum Of Finance

For Term Loans :-

Minimum loan of ₹ 25,000/- is sanctioned up to a maximum of 24 times net monthly income subject to a maximum of ₹ 15 Lakhs.

For Overdraft :-

Minimum of ₹ 5 Lakhs and maximum same as for the term loan i.e ₹ 15 Lakhs.

Maximum loan amount for School Teachers is capped at 12 months Gross Salary both under Term Loan and Overdraft facility.

Repayment Tenure

Maximum 6 months or residual service provide whichever is less.

Income Clause

To avail Personal Loan For Government Employees, The net monthly income of the borrower should be ₹ 5000/-

Interest Rates

Effective interest rate to avail personal loan for government employees ranges from 11.90% to 14.75% per annum.

Processing fees

1% of the loan amount + Applicable service tax.

Prepayment charges

Any EMIs prepayment full / part and closure of account before the end of term will attract the prepayment charges of 3% on prepaid amount.

No prepayment or foreclosure charges will be applicable if the account is closed from the proceeds of a new loan account opened under the same scheme.

Penal Interest

Penal Interest @2% p.a. would be charged over and above the applicable interest rate on the overdue amount for the period of default. If part instalment or part EMI remains overdue then penal interest should not be levied.

Provision for 2^nd Loan

Two loans can be taken from the bank at the same time. Second Loan can be taken after 1 year of disbursement of the 1^st loan which needs to be satisfactorily conducted and is regular at the time of sanction of 2^nd Loan. However, There cannot be more that two loans.

This is subject to the overall EMI/NMI ratio of 50%.

No margin is set as per the bank till now. Also, no security / third party guarantee is required.

If you are a Central / State Government or Defence pensioner drawing pension through one of SBI Branches then you can also avail SBI Pension Loan. To get pension loan your age should not be more than 76 years. SBI offers quick loan disbursal with no hidden costs, low processing fees & minimum documentations.