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6 Situations When Unsecured Personal Loans Can Come in Handy

Clix September 1, 2021


Unsecured personal loans have been great friends to people in times of need. The popularity of personal loans has increased a lot over the last few years due to many reasons. These include no end-use restrictions, easy online loan application, instant approval, no collateral requirement, flexible repayment tenure, and minimal documentation needs. Unlike earlier, when you apply for a personal loan, you don’t need to wait for weeks to get your loan approval or rejection. You may get your instant personal loan in as little as 15 minutes* at Clix Capital.

Borrowers can use personal loans for any of their planned or unplanned expenses. These are the six common situations when unsecured personal loans can come in handy.

1.    Medical Emergency

A medical emergency is one of the top reasons why many individuals apply for an instant personal loan. Health insurance policies often do not cover the ever-increasing healthcare rates in India. Many people find it difficult to pay their medical bills as they exceed their health insurance coverage. Sometimes, you may require a healthcare procedure not covered by medical insurance, such as cosmetic surgery, dental surgery, or IVF treatment. In such situations, unsecured personal loans can be your lifesaver.

2.    Higher Education

If you want to pursue higher education or join a course that can improve your industrial skillset, you may consider taking a personal loan to fund the expenses. While going abroad for higher education, a personal loan for education can cover all expenses, including visa, accommodation, admission, tuition fees, and others. Whether you want education in India or abroad, a personal loan for education can come in handy when you need the required funds.

3.    Foreign Vacation

Everyone has at least one favourite place where they want to go at least once in their lifetime. You can make your dream come true with a personal loan for travel. You can cover all your travel-related expenses with your approved loan amount, including travel tickets, hotel booking, visa, shopping, sight-seeing, adventure activities, and others. Enjoy the trip of your lifetime now and pay for it in EMIs spread across months or years. So, wait no longer to plan your foreign vacation with family or friends now.

4.    Home Renovation

You may need funds for home renovation or repair in a planned or unplanned way. In case of a damaged wall, leaking ceiling, and acute structure damage, you will need money to repair your house urgently. However, if you are planning for a bathroom renovation, kitchen remodelling, or flooring replacement, you may do it in a planned way.

Whatever your purpose is, you can get your personal loan for home renovation within minutes. You no longer need to wait for years until you can save enough to fund the project. Apply for a loan and get your home renovation done, and pay its price over the coming months or years.

5.    Wedding Expenses

Wedding expenses can quickly go out of control when it comes to organising a grand wedding event. To bring life to a grand wedding plan, you may depend on a personal loan so that nothing hinders your special occasion. You are free to use your approved loan amount for any wedding-related expense, like venue, catering, decoration, jewellery, outfit, photography, gifts, or others. When you need money to prevent the budget from going out of hand, quickly avail a personal loan and get things back on track.

6.    Debt Consolidation

Expenses resulting from heavy loans and credit card bills are often hard to manage. In such a situation, an instant personal loan can come to your rescue. It can help you lower down the steep interest rates applicable to credit cards. If the myriad of loans you are currently paying has become cumbersome to manage, debt consolidation may help you get them back in control. There might be times when you only have a little time left to pay your loans before you default on them. You may consolidate your debts with a personal loan. Doing that will lower down the interest rates you are paying and make loan repayment much easier than before.

Availing a Personal Loan

Unsecured personal loans are helpful in several ways. Many lenders like Clix Capital allow online loan application so that they can approve loans within minutes and disburse loan amounts directly in the borrowers’ bank accounts. You can use these loans for any planned or unplanned expenses, be it for weddings, home renovation, vacations, education, debt consolidation, or medical emergencies.

However, before you choose a lender, compare them diligently to make a wise decision. Check for their loan amounts, interest rates, loan tenures, eligibility conditions, documentation requirements, processing fees, customer service, and others before finalising a lender. Clix Capital is one of the most reputed NBFCs offering personal loans of up to ₹ 25 lakhs at competitive interest rates. To apply for one, follow these simple steps:

    • Visit the Clix Capital website
    • Check your credit scoreand ensure that it is more than 725
    • Fill up the Personal Loan application form
    • Get your personal loan documents verified online, which takes just a few minutes. However, if your KYC is not updated, you will have to provide some necessary details
    • Once you receive your loan approval, accept the loan offer
    • Activate the e-mandate for regular EMI payments on time

Apply for a personal loan at Clix Capital and get your loan approval within 15 minutes*. We have an easy online loan application procedure that you can complete from your PC or smartphone and receive the needed money to pay for any expense of your choice. Get your loan amount almost instantly and repay it in 12 to 48 months according to your monthly budget and repayment capacity. Use a personal loan EMI calculator to estimate your EMIs and choose a loan tenure with EMIs you can easily afford.

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