The modern way of life includes a variety of unexpected expenses. And there will be instances when our savings may not be enough to cover those expenses. In such instances, personal loans with more flexibility can be the best option to meet your financial requirements.
What is a Flexi Loan?
A Flexi Loan is a type of personal financing solution that offers ample flexibility in terms of loan repayment. With Bajaj Finance Flexi Loans, you can easily withdraw funds from your sanctioned loan limit and prepay when you have the extra funds.
Bajaj Finance Limited offers two unique variants of Flexi Loans: Flexi Term Loan and Flexi Hybrid Loan. Let us take a closer look at what Flexi Loans are and what they can offer you.
What is a Flexi Term Loan?
Flexi Term Loan is similar to a regular term loan but comes with the advantage of making multiple withdrawals and prepayments from the sanctioned loan amount.
Features of Flexi Term Loan
- You can withdraw the amount easily from the sanctioned loan limit.
- Interest will be charged only on the amount utilised.
- Your loan limit decreases by the amount of each withdrawal that you make.
- If you have extra funds, you can part-prepay the principal amount.
What is a Flexi Hybrid Loan?
With a Flexi Hybrid Loan, you can borrow money from your sanctioned loan limit as often as you wish and prepay the loan at your convenience. This facility includes the additional benefit of paying interest-only EMIs during the initial tenure of the loan.
Features of Flexi Hybrid Loan
- You can pay interest-only EMIs for the initial part of the tenure.
- You can withdraw money easily from your loan limit.
- Only the amount used will be subject to interest.
- When you prepay the principal loan amount, your limit increases accordingly.
Bajaj Finance Flexi Personal Loan stands out as a convenient financial solution when you need immediate funds. Apply now and get the amount in your bank account within 24 hours* of approval.
