Best lenders to get an instant cash loan in 1 hour in India

Every once in a while, many people would face an emergency financial crisis. The reason could be anything from paying for the medical bill to school fee the scope is wide. However, without sufficient knowledge, borrowers do not know which lender would offer the best personal loan in 1 hour in India since they need the funds quickly.

Therefore, in this post, we will introduce the two lenders who offer quick personal loan. We will tell about their eligibility criteria, required documents and other essential things.

Qbera personal loan

Qbera personal loan is the first lender you should check out to get an instant loan. The best part about Qbera is that borrowers with a credit score as low as 575 would get the loan. Here are features of Qbera instant loan.

• The application procedure is transparent. The charges are disclosed before signing the loan agreement papers.
• Qbera does not require a collateral or security to offer the loan.
• The disbursal time is very quick. A borrower could get approval and disbursal of the loan within 24 hours of applying.
• The borrower’s personal and professional details are completely safe with Qbera.
• A low credit score would not be an issue.
• There is a dedicated customer service to address issues, queries and grievances of borrowers.

The loan details

• Qbera personal loan ranges from Rs 1,00,000 to Rs 15,00,000.
• The APR ranges from 11.99% to 35.99%.
• The loan tenure ranges from 12 months to 60 months.
• The administrative fee is from 1% to 5% of the loan amount.
• The pro-close charge is 2.5% on the remaining principal amount.

The eligibility criteria for the loan

• The borrower should be an Indian citizen.
• The borrower age should be between 23 years to 55 years.
• The borrower should have a minimum credit score of 575.
• The borrower minimum salary should be at least Rs 20,000.
• The borrower should not have any defaulted loan in the last 1 year.
• The borrower should not have bounce EMI in the last 3 months.

What are the documents required for Qbera personal loan?

• Proof of Identity ( Aadhar card, PAN Card, Voter ID Card)
• Proof of address ( rent agreement, utility bill, passport)
• Bank statement for the last 6 months
• Salary slip for the previous 3 months

How to apply for Qbera personal loan?

• First, download the Qbera app from the Google play store.
• Fill out the loan application.
• Submit the required documents mentioned in the app.
• Once the app determines the loan eligibility, you will get the loan details.

So, this is everything you needed to know about Qbera instant personal loan. Now, we will move to the second lender, which is FlexSalary personal loan.

FlexSalary instant personal loan

FlexSalary become popular because of its founders who have over 75 years of collective experience in banking and technology. When you combine them and create an app offering instant loan, it is bound to break the traditional loan norms.  Here are the benefits of FlexSalary personal loan.

• The loan is collateral-free a personal loan is an unsecured loan.
• FlexSalary requires only basic documents to complete the application process.
• There are no hidden charges.
• If the borrower meets the eligibility criteria, the loan could be approved the same day.

The loan details

• FlexSalary offers personal loan up to Rs 2 lakhs.
• The APR goes up to 36%.
• The processing fee is a one-time fee of Rs 650.
• The loan tenure is up to 3 years.

The eligibility criteria for the FlexSalary personal loan

• The borrower should be a resident of India.
• The borrower age should be minimum of 21 years.
• The borrower must be a salaried employee.
• The borrower minimum salary should be at least Rs 8,000 monthly.

Documents required for FlexSalary instant loan

1. Proof of Identity ( Aadhar Card, PAN Card, Voter ID card, Passport)
2. Proof of address ( electricity bill, rent agreement)
3. Passport size photographs
4. Bank statement and salary slips for the last 6 months

Types of FlexSalary personal loan

1. Personal loan
2. Debt consolidation loan
3. Education loan
4. Travel loan

How to apply for FlexSalary personal loan?

• You could either visit the official website FlexSalary.com or download the app from the app store.
• Create an account, fill the application form.
• Submit the loan application along with the required documents.
• Once the loan application is approved, the loan amount is disbursed within a few hours.

So, these are the 2 lenders who offer instant cash loan in 1 hour in India. Before you apply for the loan, do calculate the loan, get the required documents in order, then apply for the loan.