Personal loans - Top 5 Questions Answered

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Personal loans - Top 5 Questions Answered
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Where can you spend your loan on?

• You have probably heard the term personal loan,
  but maybe it is completely new to you. Without
  any second thought, run through this guide that
  offers you the answers to the most common
  questions related to personal loans.
• So the answer to this question will be pretty
  impressive. You can spend your loan amount on
  everything you need. As the name suggests
  personal, keep it personal and use it on anything
  you want.

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What is the eligibility to get a personal loan? 

• An instant personal loan is easily available in
  the market. However, to get the approval you will
  have to meet certain criteria and eligibility.
  You must have a good credit score that will make
  it easy for your loan provider to offer you the
  loan at risk. Apart from credit score, you must
  have a good bank balance and a stable income
  monthly so that you can pay back your loan on
  time.

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What are the documents needed for a personal
loan? 

• Be it an online application, or physical loan
  process, you would need documents. Without
  documents, you cannot go ahead with the loan
  process.
• You must have documents like income proof,
  address proof, Aadhar card, Pan Card, employment
  details, and whatever your loan provider asks you
  to offer. Make sure you keep each of the
  documents handy and original.

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How can you calculate your EMI amount? 

• Your EMI is the monthly installment you pay to
  repay your entire loan amount. The EMI will be
  calculated based on the loan amount, interest
  rate, and tenure.
• The rate of interest is added to the personal
  loan amount and then divided by the number of
  months. It will give you an amount that you need
  to pay monthly to repay the entire loan amount
  within the stipulated tenure of the loan.

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What credit score is needed for a personal loan? 

• A score of more than 650 can make you eligible
  for a personal loan. The better the score, the
  best for you!

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Wrapping up

• Use a personal loan calculator to depict the
  right loan amount and pay your EMI on time. Use
  the money on anything and meet your requirements.

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Clix Capital Services Private Limited

• Address 9th Two Horizon Center, 901b, DLF Phase
  5, Sector 43, Gurugram, Haryana 122002
• Phone [phone]
• Email us hello_at_clix.capital
• Website www.clix.capital

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