Features and benefits of a Flexi personal loan

  • Borrow when you need

    Borrow when you need

    Withdraw funds as many times as you need from your approved loan limit.

  • Prepay when you can

    Prepay when you can

    Deposit funds into your loan account whenever you have surplus money.
  • No extra charges

    No extra charges

    Withdraw funds and prepay them without paying any fee whatsoever.

  • No added applications

    No added applications

    Skip having to put in additional paperwork when you withdraw or prepay funds.
  • Online transactions

    Online transactions

    Use our customer portal – My Account, to transfer funds from your loan limit to your loan account and make prepayments.

  • Interest-only EMIs

    Interest-only EMIs

    Opt to pay only interest as your EMI for the first part of the tenor and the principal later, to reduce your EMI by up to 45%*.

  • Day-wise interest

    Day-wise interest

    Incur interest only on what you utilize by the end of the day. Use the Flexi Interest Calculator for insights.

Flexi personal loan

Flexi loans by Bajaj Finserv are the new way of borrowing funds in India. You get a pre-approved loan limit based on your credit profile and can use it to meet your funding needs on the go. You can withdraw funds from this limit whenever you need finance and can prepay them whenever you have surplus money in hand. You pay interest only on what you withdraw from your loan limit and not on the entire sanction. This way, you can address your ever-evolving needs on a case-to-case basis. Interest is charged at the end of the day, and you can use the Flexi Day-Wise Interest Calculator to use the loan optimally.

We do not charge anything extra for each withdrawal and part-prepayment you make. So, you can foreclose your loan ahead of schedule to save on your interest outgo. Similarly, we do not ask for additional paperwork for withdrawals and part-prepayments. You can simply transact online and borrow and deposit funds through our customer portal – My Account.

Our Flexi personal loans are available for salaried individuals, self-employed individuals, professionals, and businessmen. We have simple eligibility criteria and require a basic set of documents to approve your loan.

A unique Flexi loan feature is that you can choose to pay just the interest component of your EMI for the initial part of the tenor. You can pay the principal later. This reduces your instalments by up to 45%*. Interest-only EMIs can help you ease your way into repayment and accommodate EMIs into a tight budget. You can also spread out repayment over 84 months** and make the loan even more affordable.

Flexi Personal Loans are ideal for situations where the expenses are ad-hoc in nature, such as home renovation, a wedding, or travel or when you aren’t sure of your funding needs.

Check Flexi loan interest rate

*Terms and Conditions apply
**Applicable for Flexi Hybrid loans

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Documents required for salaried individuals

  • KYC documents
  • Form 16 or latest salary slips
  • Bank account statements of the previous six months

(The document list mentioned here is indicative. You may be asked to submit additional documents depending on your financial profile.)

Eligibility criteria for a Flexi personal loan

For salaried individuals:

  • You should be between 21 years to 67 years* old
  • You should be a salaried employee of either an MNC, a public or a private company
  • You should be an Indian citizen living in an eligible city

*Terms and conditions apply

How to apply for a Flexi personal loan

  1. 1 Click on ‘Apply Online’ to open our simple online form.
  2. 2 Share your phone number and authenticate yourself with an OTP.
  3. 3 Fill out the form with basic KYC, income, and employment details.
  4. 4 Select your required loan amount and tenor to get instant approval.
  5. 5 Upload the required documents and submit the form online.
  6. 6 Wait for the money to be credited to your loan account.
  7. 7 Withdraw the funds you need and transfer them to your bank account within 2 hours.

*Conditions apply

To raise Bajaj Finserv Drawdown Request, Check Here!

Frequently asked questions

What is a Flexi facility?

A Bajaj Finserv Flexi facility is a unique credit option that allows you to withdraw from your approved loan limit and part-prepay at your convenience. You do not need to provide a new application for every withdrawal, and the interest is charged only on the amount you utilise. With the Flexi facility, you can also opt for interest-only instalments and pay up to 45%* lower EMIs for the initial part of the tenor.

*Terms and conditions apply

What are the features of a Flexi loan?

The Flexi loan facility is a unique financial offering that can help you lower your personal loan EMIs and make your loan more manageable. When you choose to avail of a Flexi loan, you are assigned a loan amount that you are eligible for. You are free to borrow from this sanctioned amount as per your needs. You are charged interest only on the amount you utilise, and you are free to withdraw and part-prepay at no extra cost. With the option to pay interest-only EMIs for the initial part of the tenor, you can reduce the burden of EMIs by up to 45%*.

*Terms and conditions apply

Would the interest rates for the Flexi facility be the same as a regular term loan?

Bajaj Finserv offers personal loans at attractive interest rates of 13% onwards on Flexi and the regular term loan. However, with the Flexi facility, you are only charged interest on the amount withdrawn, not the total sanctioned loan.

A processing fee of up to 4% of the loan amount (plus taxes) is also applicable on personal loans. In addition, if you opt for the Flexi facility, you will have to pay an annual maintenance charge is 0.295% (Inclusive of applicable taxes) on the total withdrawable amount irrespective of utilisation on the date of levy of such charges.

To know more, refer to the personal loan interest rates and charges.

How many times in a day can I withdraw from my Flexi term loan?

A Bajaj Finserv Flexi loan comes with a unique withdrawal and part-prepayment facility, wherein you can withdraw a maximum of five times a day.

Are there any foreclosure charges for the Flexi loan?

If you wish to foreclose your Flexi loan account, an additional fee of 4% (plus taxes) and cess on the total withdrawable amount will be charged as a foreclosure charge.

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