When you face a medical emergency or wish to travel to an exotic location, the only thing that you need to worry about is funds. When you think of settling down debt or a medical emergency, you can rely on a personal loan online from Clix Capital. It is a versatile borrowing solution that can be taken from the comfort of home. You don't need to visit the loan provider in person to get the right amount of loan.
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Documentation for personal loan in India
● Completed loan application, along with your most recent three passport-sized photographs.
● Bank statement with an updated passbook having 6 month's worth of transaction details
● Proof of permanent residence includes any of the following
● Passport must be valid.
● Voter ID cards
● Driver's licence
● Postpaid obligations and utility bills (gas and electricity bills)
● page of a passbook or a registered bank account statement that has been updated
● Rent agreement for a registered address
● For salaried individuals,
● last 3 months of your employer's salary slips
● Form 16 and the Income Tax Returns file that show your tax return
● Balance sheet, profit and loss account, and computation of income for the last 2 years.
● ITR, Traces, 26 AS
● 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.
Eligibility criteria for personal loans
● Credit score: Having documents is very important, but you will not stand anywhere near approval if you don’t have a good credit score. You need a good score that is the representation of a positive financial history. If you have taken care of your credit history and habits, you will surely have a good credit score. A good credit score opens up all the opportunities for borrowing at the best rates.
● Income: A good income can get you a loan easily. A good income means no risk, as you can easily repay your loan EMI on time. This will help you get a good rate of interest and also open up new debt opportunities. Individuals with good income are counted as an asset and it helps you in the debt process.
● Age: There is a specific age as a criteria to apply for a loan. If you are not meeting the age criteria of 21 or more, you will not be able to get any kind of loan. If you meet the age requirements, you will be approved quickly.
● Employer: Being associated with a brand of repute will give you easy approval. This will help you get the best rates and approval will be very easy.