In today’s era, it’s easier to manage unexpected expenses without worrying about repayment. Personal Loans can come in handy when you are facing a temporary financial crunch due to unforeseen circumstances. It is a great way to handle expenses and repay the borrowed amount in affordable EMIs. New-age financial institutions like Clix Capital have made it easier for busy professionals in metro cities to obtain Personal Loans online using their mobile phones. So, if you are staying in a city like Bangalore, you can check out their websites right from your smartphone and apply for an instant Personal Loan in no time.

Read on to learn more about Personal Loans in Bangalore.

What Are Personal Loans?

A Personal Loan is an unsecured loan that doesn’t require collateral from the borrower. Anyone who meets the basic eligibility criteria of the Personal Loan can apply online and get it approved quickly.No restrictions are imposed on how the funds obtained through a Personal Loan can be used. However, it is crucial to maintain a good credit score and repayment history to get a loan easily. Personal Loans are easily available for various purposes, like travel, education, wedding, medical emergency, and home renovation.

Eligibility Criteria for A Personal Loan in Bangalore

Personal Loans are unsecured loan products that lending institutions offer without collateral security. To ensure that eligible get the loan instantly, lending institutions have pre-set eligibility criteria that help them provide loans to responsible borrowers. So, prospective borrowers must meet the eligibility criteria for getting the loan. Let’s take a quick look at the eligibility criteria for Personal Loans:

  • The loan applicant must be an Indian citizen
  • The loan applicant must be a salaried employee with a minimum work experience of 12 months
  • The loan applicant must have worked for at least six months in the current organization
  • The loan applicant should be at least 21 years old and shouldn’t exceed 58 years at the time of maturity
  • The minimum monthly income of the applicant should be INR 20,000
  • The applicant’s Experian credit score should be 630 or more

Read More: What’s a home loan? All you must know about a Home Loan

Documentation Requirements for A Personal Loan in Bangalore

Now that you know the eligibility criteria, let’s look into the documentation requirements for a personal loan in Bangalore if you are staying in a city like Bangalore, you can check out their websites right from your smartphone and apply for an instant Personal Loan in no time.- 

  • The applicant must fill out the online application form 
  • The applicant should have digital copies of their identity proof, PAN card, and address proof
  • Income proof – salary slips or current year’s Form 16
  • The applicant should have a recent passport-size photograph

Why Opt for A Personal Loan from Clix Capital? 

Clix Capital is a next-gen financial institution catering to young professionals. It offers them an online platform to fulfill their Personal Loan requirements. Its customer-friendly and customized loan products can be used to meet a wide range of financial obligations. Here are some essential benefits of getting a Personal Loan from Clix Capital.

Minimum Documentation 

Traditional financial institutions have cumbersome loan approval and disbursement process, which require a lot of unnecessary documents. Clix Capital follows a minimum personal loan documents policy and so requires only basic documents (identity, address, and income proofs) for loan approval.

Online Application and Faster Sanctions 

The online loan application process makes it convenient for users to apply for a Personal Loan from their homes, workplace, or anywhere else. It hardly takes a few minutes to fill out and submit the online loan application. Moreover, the loan disbursement process is speedy, and one can even get the funds quickly post-approval into their account.

Customized Personal Loan Products 

Another important reason why you must choose Clix Capital is the customization. It offers customized loan products that are best suited for your financial needs. There are different types of personal loan products designed for travel, wedding, medical emergency, education, home renovation, etc.

To Wrap Up

A Personal Loan is one of the best financial products to meet urgent financial obligations without collateral. It offers a high degree of flexibility, and borrowers can use the funds as they like. Choosing a reliable personal loan provider is essential for a smooth and hassle-free process. Clix Capital is among the most trusted financial institutions for Personal Loans preferred by busy professionals in metro cities like Bangalore. 

Apart from this, if you are interested to know more about 5 Effective Ways To Reduce Your House Loan Interest Rate then visit our Finance category