Clix > Personal > 6 Unexpected Ways Personal Loans Can Give You Better Financial Health

6 Unexpected Ways Personal Loans Can Give You Better Financial Health

Clix October 27, 2021


We come across several occasions in our lives where we spend our hard-earned money to meet our planned or unplanned expenses. However, there are times when the money we have saved is not enough, or it is more crucial to keep our savings intact. This is where you may get instant personal loan online to accomplish your specific goals. Personal loans are fast loans that provide easy access to the required funds without any security, collateral, or guarantor. NBFCs like Clix Capital may approve an online personal loan application within 15 minutes*, which means you can have your needed funds when you need them the most.

Wondering how a personal loan can give you better financial health? These are the six unexpected ways you need to know.

1.    Medical Expenses

During a medical emergency, you need optimum financial strength to handle the medical bills. Even if you have health insurance, it may not be sufficient to meet all your medical expenses. Apart from that, there are certain restrictions that you need to follow while claiming compensation from your health insurer. However, when you take a personal loan for medical emergency, you get instant personal loan that you are free to use the way you like.

You can use your loan amount not only for an accident or disease but also for cosmetic surgery, IVF treatment, or dental procedure. Personal loans also cover expenses outside of the hospitalisation, including costs for the diagnosis, therapy, doctor’s visits, medicines, and rehabilitation.

2.    Dream Vacation

In the hustle-bustle of daily life, everyone looks forward to vacation when they can spend time with their loved ones and have an enjoyable getaway. Many times, the plan for a break is spontaneous, for which you may not have saved enough money. This is where a personal loan for travel comes in handy.

With an ample loan amount of up to ₹ 25 lakhs from Clix Capital, you may plan a dream vacation to your favourite destination across the globe. With a personal loan, you can cover all the expenses related to your travel, including flight tickets, accommodation, adventure activities, sight-seeing, and even shopping.

3.    Wedding Expenses

For such a grand occasion like an Indian wedding, you need to be prudent about your savings and investments. However, many times, celebrating the alliance between two individuals crosses the budget. Everyone plans to tie their knot in a memorable way, and lack of funds should not prevent you from doing that. If you fall short of funds for your wedding expenses, get instant personal loan for the wedding and handle the required costs.

There are no end-use restrictions to how you use your loan amount. You can spend it on any wedding-related expense you want, be it your wedding outfit, catering, venue, photography, jewellery, decorations, gifts, invites, or anything else.

4.    Home Renovation

Everyone aspires to have their home aesthetically pleasant and comfortable. Whether you want to keep up with the trends or you have an emergency repair to be done, a personal loan for home renovation can support you financially.

If you have been keeping your home renovation plans on the backburner due to a lack of funds, consider making an online personal loan application. You can use your personal loan amount for any home renovation project you plan, be it a bathroom renovation, kitchen remodelling, garden landscaping, house repainting, room addition, or balcony extension. Whatever home renovation idea you have in your mind, fund it with a personal loan for home renovation and bring it to reality.

5.    Higher Education

India has a huge population of youth, and many of them aspire to gain higher education in a reputed Indian or foreign institute. However, with high academic costs and other expenses involved, many of them are not able to take up their desired course. Higher education is crucial for an individual’s growth and progress, and you cannot let a lack of funds keep you away from what you deserve. Apply for a personal loan for education and cover all your expenses related to admission, travel, accommodation, study material, equipment, and others to fulfil your educational dreams.

6.    Debt Consolidation

At times, debt piles up, and you find yourself caught in a debt trap. You take one loan to cover an expense, take another loan to pay off the previous loan, and the cycle continues one after the other. Handling several loans at a time becomes a headache for most, and the interest cost you pay for each loan separately leads to a considerable loss. This is where a personal loan for debt consolidation helps. You can take a personal loan for debt consolidation and pay off all your loans with it. Once you do that, you have only one personal loan that you need to manage now.

Who Can Apply for a Personal Loan?

Any Indian citizen who is 25 to 58 years of age can apply for a personal loan from Clix Capital, provided that they earn at least ₹ 25,000 per month, working with the current employer for at least 6 months, and have a total work experience of at least 12 months. Follow these tips to improve your personal loan eligibility:

    • Maintain a healthy credit score
    • Do not apply for multiple loans within a short period
    • Keep your debt-to-income ratio less than 30-40%
    • Apply for the lowest loan amount sufficient to cover your expenses
    • Opt for a repayment tenure according to your budget and capacity

Are you looking for a personal loan? Remember, it can give you better financial health in the above-mentioned six unexpected ways. If you need funds for any of these purposes, get in touch with Clix Capital and get instant personal loan of up to ₹ 25 lakhs. We offer competitive interest rates and flexible repayment terms to turn personal loans into fast loans, as we offer loan approval within 15 minutes*. This means you have your funds ready when you need them the most.

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