Things Lenders Consider While Scanning Your Personal Loan Application

Many people take a personal loan to meet their expenses related to wedding, education, travel, home renovation, debt consolidation, etc. However, before you apply for a personal loan, it’s important to know what factors do lenders consider while scanning loan applications. With this useful information, you will be able to prepare better so that you do not end up having your loan application rejected.

Here are a few factors that lenders consider while scanning your personal loan application.


Age is one of the most important factors included in most lenders’ eligibility conditions. For instance, Clix Capital requires you to be between 25 and 58 years of age for personal loans. People in this age group are in their working years and are able to repay their loans conveniently. That’s why they are mostly preferred by lenders.

Credit Score

Lenders always prefer borrowers who have responsible money management habits. They go through your credit report and check your credit score to determine your creditworthiness. A credit score is a 3-digit number ranging from 300 to 900. You receive this score based on your credit history, EMI repayments, and other financial transactions.

Most lenders ask for a credit score of minimum 750 to accept your loan application. Check your credit score before applying for a personal loan. If it is less than 750, improve it using the tips mentioned here and then apply.


NBFCs give preference to applicants who have a stable job with regular income. Your employment plays a crucial role in your personal loan application. For instance, Clix Capital requires you to be employed with the current employer for at least six months and have a total work experience of minimum one year. As proof, they ask for your last month’s payslip and current year’s Form 16.


Your repayment capacity largely depends on your income. You have to manage your personal loan EMIs within that amount comfortably. To apply for a personal loan from Clix Capital, you must be earning a minimum of ₹ 25,000 per month. Your loan amount and EMIs are calculated based on your monthly income.

Repayment Tenor

Lenders consider how long you have been taking the personal loan. The longer you will keep their amount, the more unsure they may feel. Clix Capital allows you to take a personal loan from 12 to 48 months. But the shorter tenure you choose, the more chances you have to get loan approval.

Purpose of Taking Loan

The lenders want to look at your purpose in taking the loan. Wedding, travel, debt consolidation, medical emergency, home renovation, etc. are some of the genuine reasons for which lenders may happily grant you the loan. But if you want to apply for a personal loan for purposes like investing in the share market, purchasing Bitcoin, etc., then you are most likely to get a loan rejection.

Surplus Income

Lenders also give attention to the surplus income you have after paying your EMIs. If you struggle hard to adjust your EMIs in your monthly income, you have higher chances of defaulting one day. But if you have enough surplus income, you are more likely to save money and pay your EMIs even during a financial crunch.

So, these are some of the points that lenders look into while scanning your loan application. If you are ready with them, apply for a personal loan from Clix Capital and gain benefit from their easy and fast loan application and approval procedures. With an ample loan amount of ₹ 25 lakhs, you can make your expenses as your heart desires.

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