Personal loans are easily accessible, time-efficient financial sources to borrow money when required. This is primarily because Personal loans are unbound by any collateral, security, or guarantor. Therefore there is no need to tie up any asset with it. It allows you to plan your finances without worrying about your collateral. Personal Loan interest rates are much lower than other forms of loans, which is why many people are availing them for varied planned and unplanned expenses, including home renovation, wedding, education, vacation, medical emergency, and debt consolidation.

Apart from being affordable and instantly available, personal loans are also helpful in improving your credit score. They do that by diversifying your credit portfolio, not increasing your credit utilisation ratio, and making repayment easier with flexible repayment terms. While you plan the manage your finances for a secure future, consider making personal loans a crucial part of your life. Let us look at the reasons why.

1.    Personal Loan Repayment is Easy

Your financial future largely depends on your credit score, which ultimately depends largely on your repayment habits. When you take a loan and fail to repay its EMIs on time, you may reduce your credit score, eventually reducing your credibility to avail more loans in the future. However, loan repayment becomes much easier with personal loans because most lenders offer flexible repayment terms with them.

For instance, when you apply for a personal loan at Clix Capital, you get to choose a loan tenure of 12 to 48 months. You can use a personal loan EMI calculator to calculate your EMIs and adjust your loan term according to your budget and repayment capacity. Since the lender does not force you to pay the loan within a specific period and you can choose your loan tenure with EMIs you can easily afford, chances to miss repayments are minimal. Therefore, taking a personal loan can make repayment easier and watch your credit score improve over time.

2.    Savings Remain Intact

When you can avail a loan at competitive personal loan interest rates, there is no reason why you should spend your savings on expenses like vacation, wedding, home renovation, education, or medical emergency. Whenever you need money to make a planned or unplanned expense, you can fund it with a personal loan and repay it in easy EMIs over a loan term you choose according to your repayment capacity. As a result, your savings remain intact and build them up for a secure future.

3.    Assets Remain Safe

Since you can avail the lowest interest rate personal loan without any collateral, security, or guarantor, you don’t need to worry about losing your assets or putting them at any kind of risk. Personal loans are unsecured, against which you do not need to pledge any valuable asset as collateral. Therefore, you can repay your loan at your convenience without worrying about losing your asset in the process. These assets’ value can increase over time and give you a secure future.

4.    Help You Get Out of Debt Trap

You may be surprised, but it is a fact that taking a personal loan can actually help you get out of a debt trap. When you owe money to different lenders, you may end up taking more loans to pay off the earlier debt. The cycle continues forever, and you never get a chance to come out of the debt trap. However, a personal loan for debt consolidation can come to your rescue in this situation.

By consolidating your existing loans with one personal loan, you can pay them off. Now you have one personal loan EMI to pay every month. Eventually, according to your repayment capacity, you can come out of the debt trap and secure your financial future with regular payments.

5. Help Save Money

Taking a personal loan is an excellent way to save money. You gain this benefit because you can keep your savings intact by funding your expenses with a personal loan. Besides that, it saves your assets and helps you improve your credit score over time. Since you can choose your repayment term according to your repayment capacity, you can stay consistent with its EMIs and build your savings. By choosing the shortest possible loan tenure, you can save a considerable amount on your interest outgo. The savings you keep saved in your bank account attract interest rates that can help your money grow.

Features and Benefits of Personal Loans

Before you apply for a personal loan, these are a few features and benefits you must be aware of:

• • Hassle-Free Loan Application: Personal loans have an online loan application procedure that is relatively fast and straightforward. Just fill out an application form online, and you may get your loan almost instantly.
  • Ample Loan Amount: Lenders provide ample loan amount to fund your planned or unplanned expenses efficiently.
  • Competitive Interest Rates: Many lenders offer low personal loan interest rates that make repayment easier and more manageable.
  • Flexible Repayment Tenure: Many lenders offer flexible repayment tenure to make EMI payments easier. For instance, Clix Capital offers 12 to 48 months to repay your loan. You can choose your loan term with EMIs according to your budget and repayment capacity.
  • No Collateral Requirement: You can avail a personal loan without providing any collateral, security, or guarantor.
  • Instant Loan Approval: With the online application procedure, you can get your loan approval in as little as 15 minutes* at Clix Capital.

Steps to Apply for a Personal Loan Online

Don’t know how to get loan online? These are the steps to follow:

• • Visit the Clix Capitalwebsite
  • Check your credit score and ensure that it is more than 725 as per Experian
  • Fill up the application form
  • Get your documents verified online that takes just a few minutes. However, if your KYC is not updated, you will have to provide some necessary details
  • Once you receive your loan approval, accept the loan offer
  • Activate the e-mandate for regular EMI payments on time

The reasons mentioned above are relevant not only in the short term but may also secure your financial future. At Clix Capital, applying for a personal loan is a streamlined way to avail the required funds. We offer personal loans of up to ₹ 25 lakhs with a repayment tenure of 12 to 48 months. Take advantage of our competitive personal loan interest rates, smooth application, and fast approval procedures to secure your future using a personal loan.

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You can also reach out to us at [email protected] or call us at 1800 200 9898

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