Clix > Personal > Top 6 Tips to Get Your Personal Loan for Home Renovation Approved Instantly

Top 6 Tips to Get Your Personal Loan for Home Renovation Approved Instantly

Clix August 20, 2021

 

You cannot call a house your home until you make it a representation of your lifestyle. A customised touch is required to transform a property in a spectacular manner. Whether you are planning for a complete renovation or just want to add a few personal touches to make it safe and comfortable, a well-planned home improvement project can bring you joy to a great extent. However, home expansion or renovation can be expensive at times, and you do not need to keep them on hold due to a lack of funds.

You will find many lenders offering personal loans in India for this specific purpose. A personal loan is an effective way to secure funds and finance your home renovation project. Find out more about these loans and know how to get your personal loan approval quickly.

What is a Personal Loan for Home Improvement?

A personal loan for home improvement is a kind of monetary assistance that you can use to renovate, expand, upgrade, or repair your house. Unlike a home loan that you use to own a house, a personal loan for home improvement helps improve a house you already own. Personal loans are flexible and affordable, and many people prefer them for remodelling their property.

These are some features of personal loans that make them a preferred option among people planning a home renovation:

Ample Loan Amount: Personal loans come with an ample loan amount that you can use to fund your home renovation project.

Easy Application: Easy personal loan online apply procedure makes them easy to grab from the comfort of your home.

Fast Approval: If everything goes smoothly, you may get your instant loan online within 15 minutes*.

Flexible Repayment Tenure: Most personal loan lenders offer flexible repayment tenure, which you can choose according to your budget and repayment capacity.

Simple Eligibility Conditions: Personal loan lenders have simple eligibility conditions that anyone can meet with ease.

Minimal Documentation Requirements: Documentation requirements are minimal and paperless. Get your documents verified online and get your loan approval within minutes.

No Collateral Required: Being unsecured loans, you can get your personal loan without any collateral, security, or guarantor.

Tips to Get Easy Personal Loan Approval

If you are looking for an instant loan online, follow these tips to get easy approval faster:

    1. Improve Your Credit Score: Check your credit score and ensure that it is 725 or above. If it is lower than that, try to improve it by paying your due amounts, keeping your credit utilisation ratio low, diversifying your credit portfolio, and other such valuable tips.
    2. Reduce Your Debt-to-Income Ratio: The lender may not approve your loan if you are already indebted and paying a high percentage of your salary for other EMIs. Clean any existing EMIs and credit card bills to reduce to debt-to-income ratio and then apply.
    3. Keep Your Documents Ready: Although NBFCs have minimal documentation requirements, they still need to verify your address, identity, and income. For instance, Clix Capital requires these documents to approve your personal loan for home renovation:
      • 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

When you apply for an instant loan online at Clix Capital, you don’t need to upload or submit these documents anywhere. Just provide your KYC details, and your documents will be verified online within minutes. So, keep these documents ready to ensure faster processing and approval.

    1. Check the Lender’s Eligibility Criteria: Applying for a loan without checking the lender’s eligibility criteria will only attract instant loan rejection. Therefore, ensure that you are eligible for it to avoid wasting time and hurting your credit score. For Clix Capital’s personal loan, you should be 25 to 58 years of age, earning at least Rs. 25,000 per month, working with the same employer for minimum 6 months, and have a total work experience of at least 12 months.
    2. Apply For the Right Loan Amount: Calculate your expenses and apply for the right loan amount. The lender sanctions your loan amount based on your age, income, credit score, job stability, DTI ratio, and several other factors. So, apply for the right loan amount according to your eligibility and get a higher chance of loan approval.
    3. Choose the Right Repayment Tenure: The repayment tenure you choose makes a big difference in your loan approval and management. The longer loan term you select, the EMIs may become smaller, but you will end up paying a high interest outgo. However, if you choose a shorter loan term, your EMIs might be bigger, but you will save big on your interest outgo. So, use a personal loan EMI calculator to choose your repayment tenure according to your budget and repayment capacity.

Steps for Personal Loan Online Apply

If you are looking forward to sprucing up your house, follow these steps to apply for a personal loan from Clix Capital:

    • 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 documents verified online that 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

So, whether you are planning to have an upgraded kitchen, an elegant living room, or an extra bathroom, you can rely on a personal loan for home improvement from Clix Capital. Our personal loans are affordable with competitive interest rates, easy and hassle-free application procedures, and quick approval. With simple eligibility conditions and minimal documentation requirements, you can apply for a personal loan for home improvement from us and spread your loan term from 12 to 48 months.

For any queries, find us on Facebook, Instagram, LinkedIn, Twitter, or WhatsApp

You can also reach out to us at hello@clix.capital or call us at 1800 200 9898

*T & C Apply

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