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Top 10 Personal Loan Benefits for Your Financial Needs

Clix May 28, 2021

 

People take personal loans for a variety of reasons, be it for education, vacation, wedding, home renovation, medical emergency, or debt consolidation. Personal loans have become extremely popular, especially because you can avail them without any end-use restrictions and without pledging any security, collateral, or guarantor. Apart from being fast, convenient, and affordable, personal loans offer much more, making them the perfect fit for your financial needs.

Understanding the benefits of personal loans can help you know what you must look for while choosing a lender and get the most value from it.

1.    High Loan Amount

Personal loan lenders determine your sanctioned loan amount based on your credit history, income, and repayment capacity. Clix Capital offers personal loans of up to ₹ 25 lakhs, which is a loan amount sufficient enough to cover most of your personal expenses.

2.    Competitive Rates

Personal loans give the benefit of affordability in many ways. You not only choose your repayment tenure as per your budget, but the interest rates of personal loans are also competitive due to the low-risk factor. Personal loans have lower interest rates than credit cards and many other types of loans.

3.    Flexible Repayment

Personal loan lenders offer flexible repayment terms for borrowers. This is a great benefit for the borrowers, as this feature allows them to repay their loan in EMIs that they choose according to their financial status and repayment capacity. You can lower down your monthly repayments so that you can focus on your other financial obligations. Clix Capital allows you to choose a tenure ranging from 12 to 48 months.

4.    Unsecured Loan

Personal loans are unsecured loans that do not require you to pledge an asset for collateral. With an unsecured loan, you face a low risk since your loan amount is not backed by any security or guarantor. Your loan approval is based on your eligibility, documents, credit score, and payment history.

5.    Fast Loan Processing

Since personal loans require very few documents and formalities and they do not require any lengthy eligibility checks, lenders process them very quickly and you may get your approval in as little as 15 minutes*. This can save you a significant amount of time, which can be crucial in time-sensitive situations like a medical emergency.

6.    Simple Eligibility Criteria

One of the major advantages of personal loans is their relaxed eligibility conditions compared to other types of loans. For Clix Capital’s personal loan, you just need to prove your credit history with a credit score of 725 or above. Besides that, you must be between 25 and 58 years of age, earning minimum ₹ 25,000 per month, employed with the current employer for minimum 6 months, and have a total work experience of at least 12 months in the same industry.

7.    Easy Documentation Process

Loans are infamous for their hefty documentation requirements, but personal loans from NBFCs like Clix Capital have minimal formalities in terms of documents and paperwork. You just need to prove your identity, address, and income with supporting documents. If your KYC is updated with Aadhaar and PAN, you don’t need to upload them either anywhere. Just get your documents verified online and you are good to go with your loan approval.

8.    Instant Loan Transfer

Taking a personal loan is one of the quickest ways to get access to instant funds. This personal loan benefit can be particularly handy during times of emergency, like a medical condition. Under such extreme situations, waiting for the loan amount disbursal can create complications in the entire matter. Therefore, a personal loan is the best option for such cases, as it may be disbursed in a matter of minutes after loan approval.

9.    Convenience

You may apply for a personal loan right from the comfort and privacy of your PC or smartphone. Eligibility conditions are simple to meet and documentation requirements are minimal. The entire process is completed online and you don’t need to visit your lender’s office even once. Taking these factors into consideration, applying for a personal loan online is one of the most convenient options to borrow money.

10. Credit Booster

Even though personal loans are unsecured loans and they have relaxed eligibility criteria, they still act as great credit boosters in a number of ways. Since you choose your EMIs as per your budget and repayment capacity, you can repay them easily on time and build up your credit score. Personal loans also help in adding to your credit diversity, which further improves your credit score.

How to Apply for Clix Capital’s Personal Loan

    • Visit the Clix Capital website
    • Check your credit score and ensure that it is more than 725
    • Fill up the personal loan application form
    • Get your documents verified online, which include your identity and address proof, financial documents, recent passport size photograph, and income proof
    • Use personal loan EMI calculator to select your preferred loan term
    • Once you receive your loan approval, accept the loan offer
    • Activate the e-mandate for regular EMI payments on time

Clix Capital offers all of these personal loan advantages and much more. When you apply for a personal loan from us, you get an ample loan amount at competitive interest rates, along with instant loan approval and disbursal. Additionally, we aim at making your personal loan experience the most convenient one– which is the reason why we work completely online to make the entire process hassle-free.

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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