How to Manage Your Flexi Loan: Withdraw and Part-Prepay

How to Manage Your Flexi Loan: Withdraw and Part-Prepay

You manage a Flexi Loan in My Account: withdraw from your limit when you need funds, and part-prepay when you have surplus, with no part-prepayment charge. Interest applies only to the amount you use.
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Rs. 40,000 - Rs. 55 lakh

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In summary

A Flexi Loan gives you a limit to draw from and repay into, so the interest you pay rises and falls with your usage. The Bajaj Finance Personal Loan offers 2 Flexi variants: the Flexi Dropline Loan and the Flexi Hybrid Loan.


  • Withdraw and part-prepay in My Account.
  • Part-prepayment carries no extra charge.
  • Flexi facility and annual maintenance charges apply.
  • On Rakesh's Rs. 4 lakh limit, using Rs. 1.5 lakh at 14% costs about Rs. 1,750 in interest a month.

Want a loan you can draw from as needed? Check your loan offer with your phone number and a one-time password (OTP) → apply online → receive funds within 24 hours* of approval.

How do you withdraw or part-prepay?

You withdraw from or part-prepay a Flexi Loan in My Account in 4 steps, using your registered mobile number and a one-time password (OTP). The table sets them out.


StepWhat to do
1. Sign in to My AccountUse your registered mobile number and the OTP
2. Open your Flexi LoanSelect the loan from your relationships
3. Choose withdraw or part-prepayEnter the amount within your available limit or outstanding
4. ConfirmFunds move to or from your registered bank account

Last updated: 21st October, 2026


Withdrawals are limited to your available limit. On a Flexi Dropline Loan, the limit reduces over the tenure as per your schedule.

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How does each step change your interest?

Each withdrawal raises the interest on your Flexi Loan, and each part-prepayment lowers it, because interest applies only to the amount used. Monthly interest is about amount used × annual rate ÷ 12 ÷ 100.


Worked example: Rakesh in Prayagraj

Rakesh is 42 and works as a salaried railway workshop supervisor in Prayagraj. He earns Rs. 64,000 a month and has a CIBIL score of 769. He holds a Flexi Dropline Loan with a Rs. 4 lakh limit, at an illustrative 14% per annum, and manages it in My Account. The table shows how his Flexi Loan interest moves.


StepAmount used (Rs.)Interest for the month, about (Rs.)
Withdraws Rs. 1.5 lakh1,50,0001,750
Part-prepays Rs. 50,000 from a bonus1,00,0001,167
Withdraws Rs. 75,000 for a repair1,75,0002,042

Last updated: 21st October, 2026


For comparison, a Rs. 1.5 lakh Term Loan at the same rate repays principal and interest in fixed equated monthly instalments (EMIs).


EMI = P × R × (1 + R)^N ÷ [(1 + R)^N − 1]. P is the loan amount in rupees, R is the annual rate divided by 12 and by 100, and N is the tenure in months. The formula spreads the principal and interest into equal monthly payments, so early EMIs carry more interest and later ones more principal. All figures are rounded to the nearest rupee.


Term Loan tenureMonthly EMI (Rs.)Total interest (Rs.)EMI as share of salary (%)
24 months (2 years)7,20222,84611.3
36 months (3 years)5,12734,5598.0

Last updated: 21st October, 2026


The 36-month Term Loan lowers the EMI by Rs. 2,075 but adds Rs. 11,713 in interest. The processing fee on Rs. 1.5 lakh is up to Rs. 6,195. Rakesh keeps his Flexi Loan, since his costs come and go, and he prepays whenever a bonus arrives.


What can delay approval: a CIBIL score below 650 or existing EMIs that take up a large share of your income. Names or addresses that do not match across documents, and more than one loan application in the same month, can also slow it down.


Want a Flexi Loan you can draw from as needed? With a Bajaj Finance Personal Loan, you can borrow Rs. Rs. 40,000 to Rs. Rs. 55 lakh, subject to eligibility. Check your loan offer with your phone number and a one-time password (OTP) → apply online → receive funds within 24 hours* of approval.

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What are the eligibility criteria and documents required?

The Flexi Loan variants are part of the Bajaj Finance Personal Loan. To be eligible, you need to meet the criteria listed below:


CriterionRequirement
NationalityIndian
Age21 years to 80 years.
Employed withPublic, private, or multinational companies (MNCs).
CIBIL Score650 or higher.
Customer profileSelf-employed or Salaried

*You should be 80 years or younger, at the end of the loan tenure.

Last updated: 21st October, 2026


Meeting these criteria does not guarantee approval, which depends on eligibility, verification and credit assessment. No collateral or guarantor is required.


You may need the following documents, subject to your profile and application:


Document categoryAccepted options
KYC proofAadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
Identity proofPAN card, Real-time image / photograph
Employment proofEmployee ID card, Letter of Allotment of Accommodation Issued by Employer
Income proofSalary slips — last 3 months, Bank account statements — last 3 months
OthersPension order, Utility bill, Phone bill, Piped gas bill, Property / Municipal tax receipt

Not every applicant needs every document. Confirm the final list of required personal loan documents during your application.

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What interest rate and charges apply?

Bajaj Finance interest rates and charges on a personal loan, subject to applicable terms and customer eligibility, are listed below:


ChargeAmount
Interest rate10% to 30.5% per annum, subject to applicable terms and customer eligibility
Processing feeUp to 4.13% of the loan amount, inclusive of applicable taxes
Bounce chargesRs. 700 to Rs. 1,200 per bounce
Penal chargeUp to 36% per annum on the overdue instalment
Part-prepayment (Term Loan)Up to 4.72% of the principal prepaid, inclusive of applicable taxes
Foreclosure (Term Loan)Up to 4.72% of the outstanding principal, inclusive of applicable taxes
Part-prepayment (Flexi Dropline and Flexi Hybrid Loans)No charge
Flexi facility chargeRs. 1,999 to Rs. 18,999, inclusive of applicable taxes
Annual maintenance (Flexi Dropline Loan)Up to 0.295% of the Dropline limit
Annual maintenance (Flexi Hybrid Loan)Up to 0.472% in the initial tenure; up to 0.295% in the subsequent tenure

Last updated: 21st October, 2026


Charges are disclosed in the applicable product information and loan documents, so read your Key Fact Statement before you accept. Flexi variants also carry the Flexi facility and annual maintenance charges listed above. Add the processing fee to the interest when you compare offers, and see the personal loan interest rates and charges page for details.

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When does a Flexi Loan not suit you?

A Flexi Loan does not suit you if you need one lump sum for the whole tenure, since the Flexi charges then add cost with no benefit. The table compares the variants.


VariantSuits you ifTrade-off
Term LoanOne lump-sum costPart-prepayment charge applies
Flexi Dropline LoanCosts come and go, and you prepay surplusesFlexi facility and maintenance charges
Flexi Hybrid LoanYou want interest-only EMIs at first, where applicableHigher EMIs later; more total interest

Last updated: 21st October, 2026


Review your usage each quarter. If you no longer draw on the Flexi Loan, part-prepay to cut interest.

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How do you apply?

You apply for a Bajaj Finance Personal Loan online in five steps:

  1. Check loan eligibility: Enter the required loan amount and repayment period, then click "CHECK LOAN OFFER".
  2. Enter personal details: Enter personal, financial and employment details to receive a personalised offer.
  3. Loan offer: Review the offer details and adjust the amount or tenure to suit the applicant's needs.
  4. KYC verification: Complete KYC and verify bank details.
  5. Talk to loan specialist: The application is submitted and an executive contacts the applicant about the next steps.

The process may differ for new and existing customers, and some customers may need to provide additional documents. At the offer step, choose a Flexi variant if your costs come in stages.

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Key offerings: 3 loan types

  • Flexi Hybrid Loan
  • Flexi Dropline Loan
  • Term Loan

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    You can pay interest-only EMIs for up to 36 months, after which, the EMI will consist of both, the principal and the interest. EMI is applicable only on the withdrawn amount.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest on the loan amount you withdraw.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Amount disbursed in one go
    The entire loan amount is disbursed at the start.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest.

  • Flexi facility charges
    No Flexi facility charges.

Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of interest per annum

10% to 30.5% p.a.

Processing fees

Up to 4.13% of the loan amount (inclusive of applicable taxes).

Flexi Facility Charge

Term Loan – Not applicable

Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes)

Will be deducted upfront from loan amount.

Bounce charges

Rs. 700 to Rs. 1,200/- per bounce

“Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason.

Part-prepayment charges

Full Pre-payment:

  • Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment

  • Flexi Term (Dropline) Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

  • Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.

  • Not Applicable for Flexi Term (Dropline) Loan and Flexi Hybrid Term Loan.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Annual maintenance charges

Term Loan: Not applicable

Flexi Term (Dropline) Loan:

Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.


Flexi Hybrid Term Loan:

Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure

Credit guarantee scheme feeUp to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount
Credit guarantee scheme renewal feeUp to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year.
*Renewal Fee to be collected only for 3 subsequent financial years.
 
**If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated.

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Frequently asked questions

Withdrawals and prepayments

Managing the limit

How do I withdraw money from my Flexi Loan?

Sign in to My Account with your registered mobile number and the OTP, open your Flexi Loan, choose withdraw and enter an amount within your available limit. Funds go to your registered bank account. Interest then applies to the higher amount used, so withdraw only what you need and repay it when you can.

No. Flexi Dropline and Flexi Hybrid Loans carry no part-prepayment charge. Flexi facility and annual maintenance charges apply, as listed in the fees table. Part-prepaying lowers the amount used, which lowers the interest on your Flexi Loan. In Rakesh's case, a Rs. 50,000 prepayment cut monthly interest from about Rs. 1,750 to Rs. 1,167.

Yes, within your available limit. On a Flexi Dropline Loan, the limit reduces over the tenure as per your repayment schedule, so check the available amount in My Account before you withdraw. Each withdrawal adds to the amount used on your Flexi Loan, and interest rises with it until you repay that amount.

My Account shows your limit, amount used, available limit and repayment schedule, and lets you download statements. Check it after each withdrawal or prepayment to confirm the change. Reviewing your Flexi Loan each quarter helps you spot when part-prepaying would cut your interest, and whether the limit still suits your needs.

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Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000