Clix > Personal > 7 Ways to Use a Personal Loan from Clix Capital

7 Ways to Use a Personal Loan from Clix Capital

clixcapitalwp October 26, 2020

Personal Loan – A Single Loan with Multiple Uses

Personal loan, also referred as one of the best unsecured loans, comes across as a viable proposition in diverse situations. The beauty of a personal loan is that it is not earmarked for a specific purpose like a home loan or a business loan is. This feature of a personal loan makes it the most preferred option when it comes to available options for financial assistance.

Whether it is for consolidating existing debt, funding a college education, wedding expenses or travel expenses, or addressing a financial/medical emergency; a personal loan comes with a bevy of offerings.

A personal loan can be availed without collateral, at an affordable rate of interest, is easy and quick to apply and usually, if things are in order, the loan amount is disbursed in less than 24 hours.

When are Personal Loans a Good Idea?

There are some situations when availing a personal loan is a smart and the right move. Here are 5 such situations where a personal loan is your best bet:

  1. For Existing Debt Consolidation

If you’ve multiple credit cards that are nearing max credit limits, you can consider making a lumpsum payment to consolidate the balance into one payment to avoid paying extraneous amount of interest as you try to balance the cards out. This need can be addressed by availing a personal loan from any bank or NBFC.

The reason why this proposition makes for a smart move is because the interest rates charged on credit cards are higher but a personal loan can be availed at an affordable rate of interest. This will save you substantial amount on interest and allied charges. Paying off your existing debt will also lower your credit utilization ratio and will eventually increase your credit score.

  1. To Finance a Big-Ticket Purchase

If you’re looking to buy an expensive consumer durable item, getting a personal loan for the purpose will make a better deal. If you opt for paying through your pool of savings, this will leave you cash-strapped for emergencies.

Paying for a pricey purchase via credit card is also not a wise choice because of the exorbitant rate of interest charged on a card.

Availing a personal loan and paying the seller in cash in this case is a viable option.

  1. To Pay for a Wedding

We all know how exhausting organizing a wedding can be – both mentally and financially. A wedding qualifies as a large event that requires a steady flow of funds throughout the event and after. However, if there is a wedding you have to take care of, you can avail a personal loan for the purpose and cater to all large expenses at one go. Paying multiple vendors, arranging amount for the venue, finance the purchase of consumer durable items, trousseau, and even buying gold jewellery.

If you prefer to plan and finance a wedding while availing a personal loan, this will leave you with adequate savings for emergencies and will help you save considerable amount on the interest rate on credit cards.

  1. For Home Renovation/Expansion

If updating your home décor or adding extra rooms to your home has been on your mind since forever, now is the right time to do it. A personal loan for home renovation is the most viable option of financial assistance to get the home makeover of your dreams .

One of the reasons why this makes for a smart move is because updating your home décor or expanding it only adds value to the property. Also, it is a longer process to get a home loan for renovation/expansion, which is why, a personal loan is the best and smartest option.

  1. For Financing Education

If you aspire to go for a vocational degree while working or you wish to finance your child’s higher education at his dream college; you can easily avail a personal loan for education. Availing a personal loan for education is easy, quick, and requires least amount of documentation. Moreover, the rate of interest is affordable enough to not burn a hole in your pocket.

  1. To Fund a Luxury Vacation

If you’ve been dreaming to take your spouse on a luxury vacation; don’t think twice and avail a personal loan for travel to make your dream come true. Make your dream vacation a picture-perfect one without having to worry about added costs on hotel, dining, sightseeing, shopping, and working towards every bit to make it a memorable one .

  1. To Finance Medical Emergencies

Life is full of uncertainty and you never know when an emergency may strike. If you’re faced with a medical emergency availing a personal loan for medical emergency is one of the most preferred options to take care of the cost of hospitalization and the ongoing treatment.

Availing a personal loan is obviously a smart move as it is quick to apply and if your credit profile meets the lender’s eligibility criteria, you can get the loan amount disbursed to your bank account in just 15 minutes. *

Now that you’ve a fair idea of when availing a personal loan can be a smart move, make sure you choose to spend the loan amount wisely. It is always advisable to select the NBFC that is well known, offers personal loan at the best rate of interest, and delivers a smooth customer support experience. We, at Clix Capital, take pride in offering just that.

We are one of the leading NBFCs with a varied base of financial assistance to offer at easy and customizable repayment options.

Feel free to write to us at hello@clix.capital or call us on 1800-200-9898 for any queries.

78 Replies to “7 Ways to Use a Personal Loan from Clix Capital”

  1. Unquestionably believe that which you stated. Your favorite justification seemed to be on the internet the easiest thing to be aware of.

    I say to you, I certainly get annoyed while people consider worries that they
    plainly do not know about. You managed to hit the
    nail upon the top and also defined out the whole thing without
    having side effect , people could take a signal.
    Will likely be back to get more. Thanks asmr 0mniartist

  2. Good Ԁay I am so happу I found your website, I really found yoᥙ by aϲcident, while I was searching
    on Yahoo for somethiong else, Anyhow I am here now and would juѕt like to
    say thank you ffоr a incredible post аnd a аll round exciting blpg (I аlso
    love tһe theme/design), I don’t have time to go through it all at the moment bᥙt I have sɑved itt and also added in your ɌSS feeds, so when I havbe time I wіll be baϲk
    tto read more, Please do keep up the awesome work.

    Fеel free to vіsit my blog :: payday loans huntsville al

  3. An intriguing discussion is definitely worth comment.
    I believe that you ought to publish more
    about this topic, it might not be a taboo matter but generally folks don’t
    talk about such issues. To the next! All the best!! 0mniartist asmr,
    http://bit.ly,

  4. Howdy would you mind letting me know which webhost you’re using?
    I’ve loaded your blog in 3 different browsers and I must say this blog loads a lot faster then most.
    Can you suggest a good web hosting provider at a reasonable price?
    Many thanks, I appreciate it!

    Also visit my web site … gamefly is

  5. I simply couldn’t go away your website before suggesting that
    I actually loved the usual information an individual supply in your visitors?
    Is going to be back continuously in order to inspect new posts

    Here is my web page :: asmr and

  6. Thank you for every other great post. Where else may anyone get that type of info
    in such a perfect means of writing? I have a presentation subsequent week, and I’m at the
    search for such info.

    my web site :: gamefly their

  7. I’m amazed, I have to admit. Seldom do I encounter a
    blog that’s both equally educative and interesting, and without a doubt, you’ve hit the
    nail on the head. The issue is something too few people are
    speaking intelligently about. I am very happy I stumbled across this during my search for something relating to this.

    Also visit my web-site … asmr (bit.ly)

  8. I constantly spent my half an hour to read this web site’s articles all the time along with a cup of
    coffee.

    Feel free to visit my web page asmr off

  9. I got this website from my buddy who shared with me regarding this website and now
    this time I am visiting this web page and reading very informative articles or
    reviews at this time.

    Feel free to surf to my page :: asmr an

Responses

Guide to Boost Your Personal Loan Eligibility

  Personal loans are unsecured loans that you can flexibly use to pay for diverse expenses, be it a wedding, …

What to Do If Your Credit Score Has Reduced & How to Improve it

  Credit score is a 3-digit number that indicates your repayment habits and credit history. Credit bureaus give you this …

6 Secrets You Need to Know About Personal Loans

  People turn to personal loans whenever they need funds to meet their expected or unexpected expenses, such as a …