A personal loan is a collateral-free loan that can help you fund a variety of purposes such as marriage expenses, medical emergencies, travel expenses, home renovation, higher education fees, etc. Clix Capital is one of the top personal loan companies of India, offering a loan amount of up to INR 10 lakhs, depending on the borrower’s income and credit score.
The Advantages of Taking a Personal Loan in India
Easy to avail, hassle-free application process – there are several advantages of personal loans to finance your emergency requirements from Clix Capital. Be it an unplanned medical condition or travel, a personal loan can finance all these requirements.
- Flexibility to Use Funds: Personal loans are unsecured loans, which means they do not require collateral. This gives borrowers the freedom to use the funds as per their requirements. One can use a personal loan for any purpose such as financing a vacation, medical expenses, wedding expenses, or even consolidating high-interest debts.
- Quick Approval Process: Personal loans have a quick approval process compared to other types of loans. Usually, personal loan applications are processed within a day, and the funds are disbursed within 24 – 48 hrs. This makes personal loans an attractive option for those who need funds urgently.
- No Collateral Required: Personal Loans from Clix Capital are usually unsecured loan that doesn’t need any security or collateral. This eliminates the risk of losing any asset, such as a car or a house, in case of loan default.
- Easy Repayment Options: Personal loans usually come with flexible repayment options, which means that borrowers can choose a repayment plan that suits their financial situation.
- Minimal documentation: is a process of documenting only essential and critical information while omitting anything that is not required. It aims to simplify the documentation process by reducing the amount of documentation, making it easier to create, maintain, and understand.
How do qualify for Clix Capital’s Personal Loan eligibility?
To qualify for loans from Clix Capital, one of the top personal loan lenders of India, you need to fulfil the following requirements:
- Age: The minimum age required to apply for a personal loan is 21 years, and the maximum age limit is usually 58 years.
- Income: You need to have a steady income to be eligible for a personal loan. The minimum income requirement is Rs. 20,000 per month.
- Employment status: You should be employed with your current employer for at least six months to one year to be eligible for a personal loan.
- Credit score: A good credit score increases your chances of getting a personal loan approved. Most lenders require a credit score of 630 or above.
Documents needed to apply for Personal Loan in India
Clix Capital makes your loan process seamless with the minimal documents required for a Personal Loan. To apply for a personal loan in India, you need to submit the following financial documents along with your ID proof, an address proof, and a bank statement or a salary slip. Here are some common documents required by most lenders to process personal loan applications:
- Identity proof (passport, driver’s license, or voter’s ID)
- Address proof (utility bill, rental agreement, or property tax receipt)
- Income proof (salary slips, bank statements or income tax returns)
- Photo ID proof (passport-sized photo)
To apply for a personal loan in India, you need to submit documents such as identity proof, address proof, income proof, bank statements, etc. The loan approval process usually takes few days, depending on the lender’s policy and the documentation submitted.
Before applying for a personal loan, it is advisable to compare interest rates and other terms and conditions offered by various lenders in India. You can use online loan comparison websites to find the best deal that suits your requirements.