BUSINESS

Personal loans online: your key to getting quick access to funds

The loan industry has been constantly developing with new and enhanced borrowing experiences. Keeping in consideration the last minute expenses and emergencies, an instant personal loan has been introduced by various banks and non-banking financial institutions. Non-banking financial institutions are working in a modern and advanced borrowing set-up where the key is to offer instant funds to borrowers in need. An online personal loan is completely digital and there is no need for any physical visits or travelling to the loan provider again and again. From application to disbursement, the entire process is online. These forms of loans have gained huge popularity as individuals can get instant and quick access to funds. Considering the flexibility of a personal loan, it is the best financial solution for an individual or family. It is easy to pay for any sort of expenses or emergencies. If you decide to find the right experience, visit Clix Capital to get a complete digital and paperless personal loan experience. It is easy and there is no hurdle in handling the digital platform. Find out more about an instant personal loan online and the various aspects of a personal loan online.

What is an instant online personal loan?

An instant personal loan online is one such form of loan that is available online and the disbursement is instant within one working day. Now there are no more bank visits and long waiting periods with an instant personal loan online from Clix Capital. The process of application is just an online form and you are done after uploading all the documents online. Forget printing and travelling, it is just about scanning documents and only a few very important documents are required. The application and disbursal happen on the very same day and you can instantly meet your needs within a few hours. This happens to be the most popular form of loan available, and it is all thanks to the non-banking financial institutions that enabled the digital borrowing process. It is so quick, smooth and hassle-free. Even the rates of interest are lower than the banks and the flexibility of EMI repayment is there.

Documentation of instant personal loan online

  • KYC documents such as driving license, Aadhaar card, and voter ID card
  • Last 3 months’ salary slips (for salaried) or income proof (for self-employed)
  • Last 6 months’ bank account statements of your salary account (for salaried) or current account (for self-employed)
  • Completely filled out loan application along with 3 passport-size photographs along with Form 135 giving details of the assets and liabilities of the applicant.
  • Balance sheet and profit and loss account, computation of income for the last 2 years.
  • 26 AS, ITR, Traces
  • Business proof: Gumasta License, Registration Certificate, Service Tax Registration, among others.
  • IT Assessment/Clearance Certificate, Income Tax Challans/TDS Certificate (Form 16A)/Form 26 AS for income declared in ITR.
  • Photographs are passport size

Eligibility for online personal loans

The eligibility criteria for an online instant personal loan is the same as set by any normal personal loan. Since it is a completely unsecured loan, the risk of default is high. Loan providers are very careful about the eligibility screening process for an online personal loan. The individuals interested need to have a high income, documents, good credit score, a recognized employer, business revenue, job stability and a good credit background. By meeting all of these criteria, one can easily get a personal loan. The eligibility criteria are rigid because there is no need for any collateral or security to keep with the financial institutions to get a loan.

Where can you use an online personal loan?

A personal loan is completely flexible. It can be used for anything that comes up. The ideal choice to meet any need or emergency is with an online personal loan. Whether it be a wedding, travel, home renovation, debt consolidation, medical emergency, home repair, car repair, buying gadgets or meeting regular expenses, a personal loan is available for all kinds of expenses. With one source of funds, you can meet several kinds of needs. There is no fixed end-usage rigidity in a personal loan.

Where can you get an online personal loan?

An online personal loan is very popular. It is available from various non-banking financial institutions and banking websites. It is completely digital. The best way to get one is by comparing all the best loan providers and financial institutions. This will give you the best borrowing experience. Compared in terms of rate of interest, tenure, flexibility, time taking, eligibility and documentation process. It will be the best way to get the right loan product from the market.

Finishing up

An instant personal loan online is the best digital borrowing option to meet needs and emergencies instantly. The same-day disbursement and digital process make it easy and hassle-free. Borrow from Clix Capital and get access to funds in some hours and the approval rates are very high.

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