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Clix Capital Digital Loan – All Details, Eligibility and Other Factors

The Personal Loans have been in demand over the years and with the change in the lifestyle of the People together with the responsibilities of the life has forcibly or at will, pushed the demands of the personal loans to a new limit.

The Personal Loans are fast becoming the favorites for many, owing to the unsecured nature of theirs, thus allowing the people without any asset to quickly get an instant cash amount in their bank account and thus fulfilling the needs of life, at will. Since the Personal Loans are readily available and in some cases, they are pre-approved, these are one of the quickest disbursal loan types in the market and serve to bridge the gap of needs and unavailability of funds of the people. Thus, the Personal Loans are the best option for the people, if they are stuck in some financial emergency conditions and are left with no option except for borrowing money.

Know the Unknown Clix Capital

The Gurguram Based Non-Banking Finance Company offers one of the worth considering financial services to the people of the country. The Clix Capital began its working with the acquisition of GE Capital. Established in 2016 and backed by AION Capital partners, the Company has a wide vision of the progress and plans to imbibe the technology in the finance sector, which is still untapped to a greater extent in India.

What does Clix Capital offer in its loan segment?

The Clix Capital offers a various range of loan offerings to the people, who are in dire need of the financial supporting hands. The Company in fact deals in three different segments

  • SME Lending

  • Commercial and Corporate Lending

  • Consumer Lending

In the Consumer lending, the Clix Capital offers the following loan offerings to the people:

  • Consumer Durables Loans

  • Personal Loans

  • Educational Loans

  • School Loans

  • Used Car Loans

Clix Capital Digital Loan

Not discussing all the loan types, our focus of today will be on Clix Capital Digital Loan. The Clix Capital Digital Loan is one of the most availed Personal Loans which are imbibed with several salient features, which will be discussed in the later stages of the article. It is an estimate that the Clix Capital’s loans are in the range of INR 10000 to INR 50-70 crore and when it comes to the best experience of the customers, the Clix Capital Digital Loan is the best option. Working across different sectors, and in different segments, the Clix Capital is working exceptionally well across the Corporate Lending, SME Lending, and Consumer Lending Business.

Clix Capital Digital Loan – Ways to use

The Personal Loans are completely free from all restrictions. For those who are unaware of the Personal Loans and might be in confusion over what purpose can hey avail the Personal Loans and how can they use the disabused loan amount, it is to convey them that they are completely free form all sorts of restrictions. There’s absolutely no compulsion to mention the reason of the Personal Loan application. While all other loan types are available only for the specific reasons, the personal Loans can be availed for any reasons of their own.

Borrow it to spend it on a wedding, or plan a luxury trip with the borrowed loan amount; meet any emergency medical issues of yours, your family or even your pet; or cover your tuition fees, the personal Loans are available for all. Be it debt consolidation, to repay higher interest rate loans, or paying outstanding EMIs, you can cover necessities like the home decoration, household items purchasing, appliances purchasing with the Personal Loan Amount.

Eligibility Criteria for Clix Capital Digital Loan

For those who seem to be interested in the Clix Capital Digital Loan, below mentioned is the Eligibility Criteria for Clix Capital Digital Loan:

  • The Loan Applicant should be a resident Indian

  • The Loan Applicant should be from 21 years to 60 years of age

  • The Loan Applicant should be salaried or self-employed

  • The Loan Applicant should have the clear financial history

Documents Required for the Clix Capital Digital Loan

Any Personal Loans involve the minimal documentation and Clix Capital Digital Loan is no different. Here are the basic documents required for the Clix Capital Digital Loan

  • Proof of Address of the Loan Applicant

  • Identity Proof of the Loan Applicant

  • Age Proof of the Loan Applicant

  • Passport size photograph

  • Application form signed by the applicant

  • Bank Statements justifying Income; In case of the Salaried Professionals, the bank statements of the last 6 months justifying the salary credit in the bank account, while for Self Employed, the applicable income proof is required

Details of Clix Capital Digital Loan

Below mentioned are some of the Basic Details for Clix Capital Digital Loan:

  • Rate of interest – Among the best in the market

  • Loan Amount – Huge Range, depends on the repayment capability

  • Loan Tenure – wide loan tenure, thus offering easy repayment option

Factors affecting your Clix Capital Digital Loan

Just like all other banks and NBFCs, the Clix Capital Digital Loan also depends largely on the below-mentioned factors:

  • The Salary of the Loan Applicant: The salary is the most important determinant in the Clix Capital Digital Loan Amount decision. Any decision on the quantum of loan depends on the accumulation of various factors, among which the salary of the loan applicant plays a pivotal role. The more is the salary of the applicant, the more is regarded as the repayment capability of the Personal Loan Applicant. The chances of the loan tuning into an NPA decrease with the income being in the high bracket and thus the lower is the rate of interest for the loan amount disbursed.

  • Liabilities of the Loan Applicant: Not alone is the salary, but also the expenses together with the salary of the loan applicant states the complete story, of how much the loan applicant is capable to pay each month as an EMI. These two in total decides the loan amount, which can be sanctioned by the Clix Capital and at what rate of interest, the loan should be disbursed. The more is the risk of the loan turning into the default, the more will be the rate of interest.

  • Credit record: The Clix Capital also considers the credit record of the loan applicant for the approval of the Personal Loan of the applicant. Considering, how risky the borrower is, the loan application may be rejected, approved with the low rate of interest or with a high rate of interest. The defaulting of any loan and EMIs may decrease the eligibility criteria of the candidate to borrow the Personal Loans, and there are chances that the Personal Loans application for those Candidates may get rejected.

Features of the Clix Capital Digital Loan

The Clix Capital Digital Loan offers some of the worth mentioning features and benefits of the personal Loans as offered by them. Let’s take a close look at all of those:

  • In the first of its kind program, Clix Capital offer end to end digitization of the entire loan lifecycle with loan approval within five minutes by partnering with the platform jointly developed by Airtel and Seynse Technologies

  • Fully Digital and Paperless Procedure of Personal Loan

  • Cutting edge technology, analytics and artificial intelligence to drive new and disruptive models of lending

  • Faster Loan Processing

  • Creation of a snapshot of the borrower’s creditworthiness and a likelihood of repaying the loan by Utilizing the extensive algorithms leveraging alternate data in addition to the traditional credit information

  • Better evaluation of the applications, credit risks, and instant loan approval

  • The entire loan process last few clicks online and can be completed within 5 minutes

  • Hassle Free Loan Process

  • Complete transparency in the Loan process

  • No visit to the bank required

In fact, the Clix Capital is of the vision to digitize the loan process and with the view to realize it, the Clix Capital has taken forward several steps; the adoption of the analytical algorithm in the analysis of the Loan Application of the loan applicants is just one of them. With the launch of India’s first fully digital mobile financing program, the Clix Capital is working towards the introduction of technology, data, and machine learning algorithms in the working process of the loan offerings.

The Clix Capital is working on the implementation of machine learning algorithms in order to better gauge the repayment capability of the loan applicant so that no deserving loan applicants can be rejected. In the process to boost the customer service, the Clix Capital is really looking forward with the implementation of better technology towards serving customers of the country and providing them with the better loan offerings be it Personal Loans or any other loan.

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