A Flexi personal loan is a variant of personal loans that gives you the flexibility to use funds as and when required. You are sanctioned a loan limit and can borrow from this limit as many times as you want, without the need for making multiple applications.
What are the benefits of Flexi personal loans?
Borrow funds on the go
Flexi personal loans help you take care of any unforeseen or unplanned expenses as here you can withdraw from your loan limit as and when you need. Moreover, with interest charged only on the withdrawn amount, you don’t pay interest on funds that are not used.
Lower EMI
This is another upside to Flexi personal loans. Since it isn’t necessary for you to withdraw the entire amount that has been sanctioned by the lender, you can save on interest costs. This also translates to lower EMI payouts per month, something that makes your monthly cash flows look up.
Repayment made easy with part pre-payments
Not only does a Flexi personal loan allow you to withdraw as much as you need from within the approved limit, it also facilitates part pre-payments towards the loan, whenever you feel ready to pay back a lump sum. Also, there are no charges on part pre-payments.
Instant and hassle-free financing
A Flexi personal loan offers you instant loan approval and money in bank in 24 hours without lengthy paperwork. Also, you can make multiple withdrawals without having to apply for a loan each time.
Interest-only EMIs
A Flexi personal loan gives you the option to pay interest-only EMIs, where your monthly payments only consist of the interest component with the principal repayable at the end of the tenor.
Bajaj Finserv also brings pre-approved offers on Flexi personal loans which further simplify the process of taking finance as here your loan amount is already approved and you can avail funds with just 1-step verification. Know about your pre-approved offer by sharing a few basic details.
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