Know your Flexi Loan
Bajaj Finance Limited offers two Flexi variants for some of its loan products - Flexi Hybrid Term Loan. These variants give you the flexibility to manage your EMIs based on your financial situation.
When you choose either of our Flexi variants, a loan limit is assigned to you. You can withdraw funds from this pre-assigned limit whenever you need them and pay interest only on the withdrawn amount. You can also part-prepay your loan at no additional cost.
If you choose the Flexi Hybrid Term Loan, you will also have the additional benefit of paying interest-only EMIs for the initial tenure.
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Get the most out of your Flexi Loan
- Withdraw as many times as you need from the available loan limit during the loan tenure.
- Part-prepay your loan as many times as you like without any additional charges.
- Pay interest only on the amount you withdraw from your available limit.
Please note that you have to maintain a minimum balance of Rs. 100 or Rs. 1000 as your outstanding amount to keep your Flexi Loan account active as specified in loan agreement.
Also, the minimum amount you can withdraw from your flexi loan account is Rs. 1000.
Feature 1: Flexi Lite
Flexi Lite is a simplified withdrawal mode designed for small, everyday needs.
What is Flexi Lite?
A feature that allows you to make quick, small-value withdrawals without multiple authentication steps.What it offers:
- OTP-free withdrawals up to ₹15,000 in a day
- Smooth, faster daily transactions
- Ideal for customers who make frequent small withdrawals
- Helps manage everyday expenses efficiently
4. Feature 2: Drawdown Functionality Enhancements
a) Scheduled Withdrawal
What is Scheduled Withdrawal?
A feature that allows you to plan and schedule a withdrawal for a future date or time.When to use?
- Bill payments
- Ensuring funds are credited on a specific date
- Budget planning and controlled usage
b) Favorite Transactions
Makes repeat withdrawals faster.
What is a Favorite Transaction?
A saved withdrawal template with pre-filled details like amount.Benefits:
- Faster repeat withdrawals
- Saves time
- Ideal for rent, school fees, recurring fund transfers
Feature 3: Drawdown Bank Change
This feature helps you update the bank account where your Flexi Loan withdrawals are transferred.
What is Drawdown Bank Change?
A facility that allows you to modify your registered withdrawal bank account for Flexi drawdowns.
Why you may need it:
- You changed your primary bank
- Your existing account is no longer active
- You want withdrawals routed to a different account for better fund management
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You can also view your Flexi Loan details, manage fund withdrawals and loan repayment by visiting our service portal.
Loan support made easy—read on
Our Flexi Loan variants Flexi Hybrid Term Loan offer you a host of additional features. This includes withdrawing funds from your available loan limit as many times you need and part-prepaying your loan at no additional charges.However, if you choose our Flexi Hybrid Term Loan, you get an additional facility of paying interest-only EMIs for the initial part of the tenure.
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Check your Flexi Loan account
Sign-in to our service portal in two simple steps and track your loan details easily.
Frequently Asked Questions:
After making a part-prepayment, it takes up to 24 to 48 business hours for the amount to get adjusted towards the existing loan.
To check your Repayment Schedule for updated loan details, follow the steps below:
1. Click on 'Service'
2. Go to 'Relations' and select your loan account
3. Click on 'View Statements and Documents'
4. You can now download and view the 'Repayment Schedule'
To ensure you continue enjoying the benefits of your Flexi Loan and keep your loan account active, please maintain a minimum principal balance of Rs. 100 or Rs. 1000, as per the terms of your loan agreement.
Note: The cheques and demand drafts clearance process will take approximately 3 business days.
There are no restrictions on the frequency of withdrawals. However, you can withdraw until a minimum of Rs. 1000 is available in your limit.
You don't need to pay any charges to drawdown funds from your Bajaj Finserv Personal Flexi Loan account.
