About this product
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FlexDrive+ is a loan variant available with the new car loan from Bajaj Finance. It is designed to lower your EMI for an initial period by splitting the loan into two parts. First, you choose an initial tenure of 3, 4, or 5 years. Bajaj Finance then decides the residual amount. Until that due date, your principal repayment is made only on the loan balance, which is the total loan amount minus the residual amount. This balance loan amount or residual amount is essentially the car's depreciated value. However, interest is charged on the entire loan amount as per the applicable terms.