Need a fun vacay or plan to surprise a loved one with a thoughtful gift but don’t want to use your savings or have enough money in your account? Whatever the situation, an instant Personal Loan is always helpful.
Whether planned or unplanned, a financial expenditure can arise at any time in your life. A Personal Loan can empower you to handle almost all your financial needs, whether for medical expenses, weddings, higher education, dream vacation, shopping, home renovation, or any other need.
Fortunately, you can now apply for an instant Personal Loan from your smartphone within minutes from anywhere. Yes, you heard it right!
New-age NBFCs like Clix Capital have made it possible to apply for a Personal Loan from their website without hassles. The best part is that their loans come with competitive interest rates and minimum documentation.
Online Personal Loans from Clix Capital are approved and disbursed to your account quickly. While traditional home loans, auto loans, and other loans require extensive verification before approval, instant Personal Loans are approved almost instantly.
What Are Instant Personal Loans?
A Personal Loan is provided online to a borrower at a fixed interest rate for a pre-set tenure, which can range from 12 months to 48 months, depending on the amount. The borrower does not need to provide any collateral or asset as security or a guarantor. The borrowers need to repay the loan in simple equated monthly installments (EMIs).
What Can You Use Instant Personal Loan Funding for?
A quick Personal Loan online is an all-in-one solution for salaried professionals needing financial assistance. Sitting in your home, office or on the go, you can always apply for an instant loan from your smartphone within minutes. It’s the most convenient option for anyone looking for instant funding for various purposes including home renovations, dream vacations, weddings, and other purposes. The best thing about Personal Loans is that NBFCs offer you the flexibility to use the amount as you want. This gives you the flexibility to use a single loan for multiple purposes as well, if needed.
How to Access Personal Loans with Minimum Interest Rates?
Though instant loans provide numerous benefits, applicants must be eligible to apply for them. Hence, if you are looking for an instant Personal Loan, you must ensure meeting the following eligibility criteria.
1. Check to See if You Are
- 21 years old or older
- A salaried employee
- Your minimum monthly salary is INR 20,000 or higher
- You have work experience of 1 year with six months in your current organisation
2. Income Proof
- Last month’s salary slips and or account statement to check your monthly income
- Form 16 of the current year
3. Your Minimum Credit Score is 630+
The credit score is important as it lets the loan provider decide if you are capable of repaying the loan on time or not. Having less credit score may lead to loan rejection. NBFCs like Clix Capital offer Personal Loans to applicants with an Experian credit score of above 630.
Once you provide the information online, the application process moves to the approval stage. The loan is approved once the verification is completed.
So, How to Apply for an Instant Personal Loan Online?
The following are the steps to apply for an instant Personal Loan from your smartphone:
- Browse your preferred NBFC’s website (For example – Clix Capital)
- Go to the Personal Loan section and click ‘Apply Now’
- Enter your phone number
- Validate your mobile number with OTP
- Enter the necessary information
- Crosscheck details before submitting
Get Approved Limit
You must figure out how much cash you need before loan application. Check with your selected loan provider to see if they approve of your amount. You can adjust the requirement accordingly if the cash amount exceeds the authorised limit.
The entire online application process for Personal Loans is paperless. You only need an active internet connection on your smartphone, and you can apply for a Personal Loan. You won’t have to visit any office physically for anything from application to disbursal. You will have to upload any documents online if required, and you will be good to go!
Documents Required for Instant Loans
Documents required for Personal Loan interest rates are as follows.
- Salary slips or Form 16
- Experian credit report with a score of 630 or more
- Passport-sized photograph
- Identification proof – Aadhaar card, driving license (any one).
- Address proof – Aadhaar card or Voter ID card
- PAN Card
Once you have these documents ready, applying for a Personal Loan online is a breeze. You can also use the free Personal Loan calculator available on the Clix Capital website to calculate your EMIs before applying. After analysis, apply for the Personal Loan from your smartphone and get quick approval and instant disbursal into your account.
Instant Personal Loans are available for all your needs. Depending on your eligibility, you can get a loan amount ranging from Rs 50,000 to 10 lakhs. Furthermore, instant Personal Loan approval is not dependent on collateral. It is a collateral-free loan. The funds are transferred to the loan seekers’ accounts quickly after approval.
The interest rate on these instant Personal Loans is also competitive. It makes it easier for salaried individuals to apply for and repay such loans. You can get the best Personal Loan interest rateswhen you fulfil the eligibility criteria. These loans are highly flexible, allowing you to spend your money however you want. So, apply online to be approved for instant Personal Loans within a few minutes!