Flexi Personal Loan

Flexi Personal Loan

Check your eligibility for Flexi loan with just your phone number and OTP - no branch visit needed.
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Loan Types

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Rs. 40,000 - Rs. 55 lakh

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Enter mobile and OTP | Check offer | No branch visit needed

Flexi Loans by Bajaj Finance offer flexibility in personal borrowing. You get a pre-sanctioned loan limit based on your credit profile and can use it to meet your funding needs on the go. Withdraw funds whenever you need and part-prepay whenever you have surplus money.
 

✅  Check your pre-approved loan offer with phone number and OTP → Apply online in 5 minutes → Get your pre-sanctioned limit and withdraw as you need
 

With Flexi Loans, 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 financial needs on a case-by-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.

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Key features of Flexi Personal Loan

  • Borrow when you need: Withdraw funds as many times as you need from your approved loan limit. No restrictions on number of withdrawals.
  • Part-prepay when you can: Apart from EMIs, you can deposit funds into your loan account whenever you have surplus money. Reduce your overall interest burden by part-prepaying.
  • No extra charges: Withdraw funds and prepay them without paying any extra fee whatsoever. No withdrawal fees, no prepayment penalties.
  • No added applications: Skip having to put in additional paperwork when you withdraw or prepay funds. Everything is hassle-free and online.
  • Online transactions: Use our customer portal – My Account, to transfer funds from your loan limit to your loan account and make prepayments with complete ease.
  • Interest-only EMIs option: With our Flexi Hybrid Term Loan, opt to pay only interest as your EMI for the first part of the tenure and the principal later, to reduce your EMI burden initially. You can also use our personal loan EMI calculator to calculate your EMIs in advance.
  • Day-wise interest: Incur interest only on what you utilise by the end of the day. Use the Flexi interest calculator for insights into your interest calculations.
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Flexi Personal Loan

  • How Flexi Personal Loan works

    Understanding how a Flexi Loan operates helps you maximise its benefits:
     

    1. Get your sanctioned loan limit: Based on your application and eligibility, you receive a sanctioned loan limit (e.g., Rs. 10 lakh)
    2. Withdraw as needed: Drawdown only the funds you need, whenever you need them (e.g., Rs. 2 lakh for renovations)
    3. Interest on drawn amount: Interest accrues only on Rs. 2 lakh, not the full Rs. 10 lakh limit
    4. Make monthly payments: Pay your EMI on the borrowed amount
    5. Part-prepay anytime: If you have surplus funds, make part-prepayments without additional charges
    6. Redraw if needed: As you begin to repay, you can withdraw again from the available balance
    7. Day-wise interest: Interest is calculated daily, so early prepayments save significant interest
       

    Pro tip: Use the Flexi interest calculator to understand how interest is charged daily. The earlier you prepay, the more interest you save—making this loan ideal for variable income earners. Check your eligibility for personal loan using just mobile number and OTP – and get the funds you need within hours*. 


    Also, you can use the interest calculator to know your estimated EMI amount.

  • Ideal use cases for Flexi Personal Loan

    Flexible Personal Loans are ideal for situations where expenses are ad hoc in nature:
     

    • Home renovation: Fund home improvements in stages as work progresses, paying interest only on drawn amounts.
    • Wedding expenses: Manage significant wedding costs by withdrawing funds as different vendors are paid.
    • Travel plans: Finance trips and holidays, withdrawing funds as bookings are made.
    • Medical emergencies: Access emergency funds instantly without waiting for separate loan approvals.
    • Business working capital: Draw funds based on business needs throughout the year.
    • Education expenses: Fund education in instalments (tuition, accommodation, books) over time.
    • Uncertain expenses: Perfect when you're not sure exactly how much you'll need, allowing flexibility.

    Flexible 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 are not sure of your funding needs.
     

    Check Flexi loan interest rate

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Eligibility criteria for a Flexi personal loan

You can easily get the funds you need with the below criteria:

  • Eligibility criteria

    • Nationality: Indian
    • Age: 21 years to 80 years.
    • Employed with: Public, private, or MNC.
    • CIBIL Score: 650 or higher.
    • Customer profile: Self-employed or Salaried

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

  • Documents required for salaried individuals

    • KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
    • PAN card
    • Employee ID card
    • Salary slips of the last 3 months
    • Bank account statements of the previous 3 months
    • Piped gas bill
    • Pension order
    • Letter of Allotment of Accommodation Issued by Employer
    • Property / Municipal tax receipt
    • Utility bill
    • Phone bill
    • Real-time image / photograph
    • Ration card

    Check your eligibility for personal loan using just mobile number and OTP – 100% online process. 

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How to apply for Flexi personal loan

  1. Click on ‘CHECK ELIGIBILITY’ on this page.
  2. Enter your 10-digit mobile number and the OTP sent to your phone.
  3. Check if you have an offer. If not, fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
  4. Now, click on ‘PROCEED’ to visit the loan selection page.
  5. Enter the offer or loan amount that you need. Choose from our personal loan variants.
  6. Choose the repayment tenure and click on ‘PROCEED’.
  7. Complete your KYC and submit your application.

Our representative will contact you for further steps.


To raise Bajaj Finserv Drawdown Request, Check Here.

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Key offerings: 3 loan types

  • Flexi Hybrid Term Loan
  • Flexi Term (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% p.a.

Processing fees

Up to 3.93% 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 fee Up to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount
Credit guarantee scheme renewal fee Up 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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Disclaimer

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