Flexi Loan Drawdown Request: Steps and Details

A drawdown request lets an eligible Flexi Loan customer withdraw funds from the available sanctioned limit, and the amount withdrawn becomes part of your repayment obligation, with interest on the utilised amount. You can raise a request in My Account by selecting your Flexi Loan, choosing Drawdown, entering an amount within the available limit and confirming with an OTP. A drawdown is available only when there are no dues on the account, and it does not clear, waive or settle an overdue amount.

• The amount available depends on the sanctioned limit and the amount already utilised, so check the available limit shown for your loan.
• Interest applies to the amount you use, and the drawn amount must be repaid under your loan terms.
• A drawdown is available only when no dues are outstanding, so clear any overdue EMI first through Make loan payments.
• A drawdown does not cancel, waive or settle an overdue amount or a legal notice.
• A missed repayment on the drawn amount becomes overdue, can attract penal charges and is reported to credit bureaus.
• Never share the OTP with anyone, and check that the registered bank account is correct before you send the request.

A drawdown request lets an eligible Flexi Loan customer withdraw funds from the available sanctioned loan limit when needed. Instead of receiving the full sanctioned amount at once, you use the limit as your requirements arise, and interest is generally charged on the amount you have used, not on the unused limit. A drawdown increases your utilisation and creates repayment obligations under your loan agreement, with the interest, EMI structure and loan period applying to the utilised amount. Before you raise a request, check your available limit and existing repayment obligations.

If your account has overdue dues, clear them through the repayment process instead of using a drawdown to regularise the account.

Steps to raise a Flexi Loan drawdown request

You can raise a drawdown request in My Account by selecting your eligible Flexi Loan and entering the amount you want to withdraw. The request needs OTP verification and confirmation of the applicable terms. Follow these steps:

1. Sign in to My Account using your registered login details.
2. Go to Your Relations and select your Flexi Loan account.
3. Select View Details to open the loan account information.
4. Choose Drawdown from the options shown.
5. Check the registered bank account where the amount will be transferred.
6. Enter the amount you want to withdraw, within the available limit.
7. Generate the OTP sent to your registered mobile number and enter it.
8. Review the request and the applicable terms, then select Send Request.

A drawdown is available only on eligible Flexi Loan accounts with no dues, and the options shown can depend on your account. The OTP is confidential, so never share it with anyone, including anyone who contacts you about the request. After you submit the request, check your loan account for its status, and raise a request through Help and Support if the status is unclear.

How much can you withdraw through a drawdown request?

The amount available depends on the available limit under your sanctioned Flexi Loan and the amount already used. You cannot assume that the full sanctioned amount remains available if you have already used part of the facility. The table shows what affects the amount.

For illustration only: if a sanctioned limit is Rs. 5,00,000 and Rs. 2,00,000 has already been used, the remaining available limit is lower than the sanctioned amount, subject to your account terms. Check the available limit shown against your loan account before you enter an amount, not the original sanctioned amount.

A drawdown increases the amount you use under your Flexi Loan, so it affects your outstanding obligations. The facility gives access to funds when needed, but each withdrawal should be weighed against your existing repayment commitments. Before you raise a request, review:

• Available limit: The amount currently available under your Flexi Loan.
• Existing utilisation: The amount already withdrawn and outstanding.
• Repayment obligations: The EMI and interest requirements after the drawdown.
• Existing overdue dues: Overdue amounts must be cleared through the repayment process first.
• Bank details: The registered bank account details are correct.
• Loan terms: The terms that govern your Flexi Loan and the drawdown facility.

What if you have overdue dues or miss a repayment on a drawn amount?

A drawdown is available only when there are no dues against the account. If you have an overdue EMI, clear it first: open My Account or the app, go to Service, select your loan under Your Relations, choose Make loan payments, then Missed instalments or Other overdues, and pay using UPI, net banking or a debit card. A drawdown does not cancel, waive or settle an overdue amount.

A drawn amount forms part of your repayment obligation once it is disbursed. If a repayment is not made by its due date, it becomes overdue and can attract penal charges as set out in your loan agreement, and the overdue status is reported to credit bureaus in the lender's regular reporting cycle. A later payment does not remove the earlier entry. Continued non-payment over a prolonged period can lead to the account being classified as a non-performing asset (NPA) under applicable regulatory norms, and to recovery action, which can include notices and legal steps under the loan agreement and applicable law.

A legal notice should not be ignored. Read it, check the amount against your loan account, and respond within the stated timeline. If you are not able to pay in full, contact the lender early through Help and Support to understand the options for your loan. Any option is subject to the lender's assessment and is not guaranteed.