Personal Loan Eligibility & Documents
Maintaining a steady flow of funds throughout various phases of life can be a task at times. Whether it’s for acquiring a valuable asset, higher education for your loved one, wedding expenses, a luxury international vacation, or simply to pay off existing debts; if you’re an average salaried professional, you’d need prompt financial support at times. A personal loan comes across as a great option in times of need.
Turning to personal loan providers in India can be one of the best options, as a personal loan can offset a temporary financial crisis to keep you on track.
Clix Capital is one of the leading personal loan providers in India. We offer instant personal loan approvals so that you can have a loan just when you need it most.
Gone are the days when applying for a personal loan meant extensive documentation and formalities . We, at Clix Capital, ensure that when a borrower approaches us with a personal loan requirement, they do not need to worry about offering collateral, risking a valuable asset, or providing n number of documents. Our digitized loan application process is easy to use, convenient for everyone and eliminates the need of paperwork too.
We Have a Bevy of Personal Loan Offerings!
If you wish to make your vacation one to remember, then our personal loans for travel are perfect for you!
Attaining the best education is possible with Clix Capital’s personal loans for education!
Make your special day all the more memorable with Clix Capital’s personal loan for wedding!
Medical Emergency Loan
Never fret in case of a medical emergency – our personal loans for medical treatment will quell all your worries!
Home Renovation/Expansion Loan
Clix Capital will provide you with the means to turn your house into a dream home!
Personal Loan Eligibility
Personal loan eligibility is determined by several factors that vary across different banks and NBFCs. However, some criteria are common for all financial institutions.
The personal loan eligibility criteria for any salaried or self-employed individual is:
Minimum & Maximum Age Bracket
– You need to be between 25 and 58 years of age to be eligible for a personal loan.
Maximum Personal Loan Amount
– You can apply for a personal loan of up to 25 lacs depending on your credit score.
– If you have any existing loans and are paying EMIs; your personal loan eligibility quotient reduces based on that.
Net Monthly Income
– If you’re a salaried individual with a minimum monthly income of Rs 25,000 per month and you’re in the current job for the past 6 months (with a total minimum experience of 1 year); you stand qualified for a personal loan.
Congratulations! If you answered YES to all the questions above, you’re just a step away from an instant personal loan.
Documents Required for Personal Loan
Now that you have cleared the personal loan eligibility criteria to apply for a personal loan online, we want you to rest your faith in us. We don’t relish heaps of documents and don’t believe in troubling borrowers with loads of paperwork.
The common documents required for a personal loan are:
- Duly filled application form
- Recent passport size photograph
- Identity proof
- Address proof
- Income proof
How to Apply for a Personal Loan at Clix Capital?
Applying for a personal loan at Clix Capital is super easy and quick. Follow the steps below and you’re done:
- Fill out Application Form
- Upload/ verify required documents like identity proof, income proof and residence proof
- Accept offer and activate e-mandate
With your approval, our systems keep verifying each item as you move forward on the application screen. Once the application is submitted and all required documents uploaded, the loan funds are transferred to your account in 15 minutes!*
Why Should You Apply for a Personal Loan at Clix Capital?
Clix Capital is a one-stop solution to all your personal finance needs. In here, we strive to offer a quick and hassle-free experience when you apply for a personal loan.
Here is why you should apply for a personal loan at Clix Capital:
- Fast & Quick – At Clix Capital, we offer instant personal loan approvals within 24 hours so that you don’t have to wait in times of need. The entire process is online. If you wish to speak to us directly, you can call us at 1800-200-9898 or just leave us your contact number and our customer service staff will take it from there to assist you quickly.
- Convenient – Applying for a personal loan at Clix Capital is digital and hassle-free.
- Best Interest Rate on Personal Loan – Our personal loan interest rates vary based on the specifics of your application like date and income. The final applicable rate of interest is decided after going through your application form and other supporting documents.
If you’d like to know more about personal loans or would like to find out if we have an offer for you, click here.
Tips to Increase Personal Loan Eligibility
Here are some handy tips that can help in boosting your personal loan eligibility:
- If you have a low credit score, work towards improving it and maintaining it afterwards. You must have a score of minimum 700-750 to get your loan approval with ease. To improve your credit score, make your payments on time, rectify any errors in your credit report, maintain your old accounts (if there are no fees applicable), diversify your credit mix, and increase your credit limit.
- Pay off your outstanding credit card bills and existing debts as soon as possible, as your existing EMIs may have an impact on your loan approval
- Show all your sources of income at the time of applying. The more you earn, the more chances you have to get your loan application approved.
- If you are in a financial crunch, choose a longer loan tenor. Doing this will reduce the amount of EMIs you have to pay every month, and allow you to easily include them in your monthly budget. However, you may end up paying a higher interest amount by the end of loan term.
- Do not make multiple loan applications at the same time, as it reduces your credit score and highlights you as a high-risk borrower.
- Apply with a lender with easy to meet eligibility conditions, like Clix Capital
You can reach out to us, toll free, at 1800-200-9898 (Mon-Sat, 9AM to 6PM)
What Documents Do I Need to Provide?
Validly completed application form
- We will provide you with a run-of-the-mill application form to detail out all the information we need before processing your personal loan request.
Passport size photograph
- This photograph should be fairly recent and indicative of your current physical appearance.
Identify proof (PAN Card, Aadhaar Card, etc.)
- This can be either your Aadhaar Card, PAN Card, or Government ID (if you happen to be a government employee).
Address proof (Electricity Bill, Sale Agreement, etc.)
- Your Aadhaar Card is the go-to document here. In case your current address is not updated in Aadhaar card, one certified copy of any Official Valid Document (OVD) is required. These OVDs are either your Passport, Voter ID, or Driving License.
Income proof (Bank Account Statement, Salary Slips, etc.)
- This comes in the form of your latest one-month pay slip or Form 16 for the current year.
How Do I Apply for a Personal Loan from Clix Capital?
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What will be the tenure, down payment, EMI, and interest rate for my personal loan?
At Clix Capital, you can choose from customised repayment (EMI) and down payment options. However, the interest rate of your personal loan depends on various factors, such as the specifics of your application (including metrics like date and income). We’ll tell you the final applicable interest rate once we go through your application form and all supporting documents.
Do I need any collateral to avail a personal loan?
Not at all! There is no additional collateral or guarantors required to have your personal loan application approved.
How can I reach out to Clix for any other information on my loan?
Just call us on 0124-4545965 or 0124-3817400 between 9:30am-6:30pm from Monday to Saturday (except public holidays). Alternatively, you can also write to us at email@example.com to resolve your queries around personal loan.
I’ve just joined a new job. Am I eligible for a personal loan from Clix Capital?
No. We offer personal loans to people with at least 6 months in the current job and require atleast 12 months of total experience. If you have just joined, you are not eligible.
I want a personal loan to travel to my dream destination. Can I use my personal loan for this purpose?
Of course. We offer a personal loan for travel which you can use to travel to any Indian or foreign destination.
What is Form 16 present in Clix Capital’s document requirements?
Form 16 is a certificate that salaried individuals receive from their employer as a proof that the tax deducted from their salary is deposited to the Income Tax Department. You can contact your HR or Payroll team to procure this certificate.