Overdraft against property is a secured form of credit with features of both secured loan and overdraft facility available. This financing option lets you withdraw a required amount from your eligible loan amount during its loan tenor as an overdraft.
Bajaj Finserv brings to you the unique Flexi Loan facility, a unique credit option similar to Loan Against Property overdraft, with more appealing features. Opt for this facility to make your repayment as easy as possible.
Flexi Loan Facility from Bajaj Finserv is a facility you can opt for when you avail a Property Loan. It lets you withdraw the amount you require from the pre-sanctioned Loan Against Property and allows you to prepay at any time during the loan tenor. You accrue interest on only the withdrawn amount instead of total loan sanctioned. Also, repaying the withdrawn amount within the same day attracts no interest as it is charged daily.
You can also opt to pay interest-only EMIs during the tenor and repay the principal at the tenor’s end. The non-inclusion of principle during EMI payment also reduces your EMIs considerably, which makes this facility an affordable option to repay.
Additional Read: How Much Loan Can You Get Against Your Property
Mortgage Loan interest rates and charges on this from Bajaj Finserv are one of the lowest in the market, which makes it further convenient to avail overdraft loan against property.
Opt for the part-prepayment or foreclosure facility to repay the loan at any time before the tenor ends. Individuals availing the loan at a floating rate of interest can prepay at nil charges.
Other features that this facility brings include online withdrawal and payments at any time and from anywhere via Bajaj Finserv’s customer portal Experia.
Fill Property Loan application form to apply for this loan with Bajaj Finserv and enjoy the overdraft benefits of Flexi Loan feature.