Personal loans are unsecured loans you may put these loans to meet any of your financial needs, like vacationing abroad, paying for a medical emergency, renovating your house, or funding a wedding.
Apart from all these, another use can come in handy too is settling of credit card debt, you can take a personal loan for debt consolidation. Here’s how it can help you deal with your credit card debt in an efficient manner.
How a Personal Loan can Help clear your Credit Card Debt.
Debt consolidation refers to the process of bringing all your debts together to clear them off in one go. This can be done through a personal loan. The basic idea is to pay all your credit card debts and other payables using a single personal loan, after which you are left with just a single EMI every month at a comparatively lower interest rate.
If you are under a high credit card debt, you might be paying thousands for interest rates alone. You may take a personal loan for debt consolidation to pay off your existing debt quickly and pay the new debt conveniently while saving interest outgo.
Since a personal loan usually has a lower interest rate than credit card debt, it can be an excellent tool to consolidate your debts and make repayment easier than before. A debt consolidation loan unifies all your debts and allows you to pay them in a lumpsum amount.
Features of Personal Loan for Debt Consolidation
A personal loan is one of the most popular credit types people prefer for debt consolidation. There are several features of this type of loan:
- Speedy Loan Processing
- Hassle-Free Online Application Procedure
- On-the-spot loan approval and quick loan disbursal
- Competitive Interest Rates
- Simple Eligibility Conditions
- Minimal Documentation Requirements
- No-Guarantor, No-Collateral Loan
- Proves to be An Excellent Tool for Debt Consolidation
Eligibility Conditions to Apply for a Personal Loan
For Clix Capital’s personal loan, you have to meet the following conditions to be eligible:
- You must be between 25 and 58 years of age
- You must be a salaried professional with a monthly income of at least ₹ 25,000
- You must be working with your current employer for at least 6 months
- You must have work experience in the current field for minimum of 12 months
After checking the eligibility conditions, if you think you are eligible for a Personal Loan for debt consolidation, you can apply here.
You will need to share the following documents to complete your application:
- Duly filled online application form
- Recent passport size photograph
- Identity proof like Aadhaar card or Pan card, or government ID for government employees
- Address proof like Aadhaar card, voter ID, passport, driving license, etc.
- Income proof, including your last month’s payslip or current year’s Form 16
You don’t need to submit or upload your documents if your KYC is linked with your PAN. You just need to get them verified online and your loan application is completed within seconds.
You may get your loan approval within 15 minutes*
How to Apply for a Personal Loan for Debt Consolidation
If you are under heavy credit card debt and want to pay it off using a personal loan for debt consolidation, these are the steps to follow:
At Clix Capital, you can apply for a personal loan of up to ₹ 25 lakhs that you can use to pay off your credit card debt and repay it in easy EMIs over 12 to 48 months. Apply now and get control over your finances instantly and bring them back on track!
You can also reach out to us at email@example.com or call us at 1800 200 9898
* T&C Apply