Manage your Flexi Loan payment
When you borrow any loan, you usually repay it in equated monthly instalments (EMIs). Your EMI usually consists of principal and interest, and it gets auto-deducted from your registered bank account on a pre-set date. However, if you choose our Flexi Hybrid Loan, you get the option to pay interest-only EMIs for the initial tenure.
If you have surplus funds and have opted for our Flexi variants, you can part-prepay your loan at no additional cost.
You can part-prepay your Flexi Loan or explore other payment options by visiting our customer portal – My Account.
Advance EMIs, foreclosure, and overdue EMIs
If you fear missing your EMI due date, you can use the advance EMI facility and pay your monthly instalments in advance. This will help you in avoiding negative impact on your CIBIL Score. It also helps you in avoiding penal charges applicable in the case of overdue EMIs. You’ll also be not able to use your Flexi Loan account features if your EMI bounces.
You can also use our foreclosure facility to pay your entire outstanding amount in one go and close your Flexi Loan early. However, you may be asked to pay additional foreclosure charges.
If you’ve failed to pay your EMI due to a low account balance or technical error, clear it with our overdue EMI payment option.
Disclaimer: Please note that the amount paid by you towards Advance EMI is applied for repayment of your monthly EMI only and is not to be treated as part-prepayment or foreclosure of the loan, irrespective of the loan variant availed by you. No interest is payable by BFL on the advance EMI amount paid by you.
Make your Flexi Loan payments
You can part-prepay your loan, pay an EMI in advance, clear your overdue instalments, or foreclose your loan in My Account.
- Visit our customer portal by clicking the ‘Sign-in’ button on this page.
- Enter your registered mobile number, and submit the OTP to sign-in.
- Verify your details by entering your date of birth and proceed.
- Choose the payment option and select your loan account for which you want to make a payment.
- Enter the amount and, if applicable, review the additional charges.
- Click on ‘Proceed’ to complete your payment using our secured payment gateway.
You can also manage your Flexi Loan repayment by clicking on ‘Pay your Flexi Loan EMIs’. You’ll be asked to sign-in to My Account. Once signed-in, select your loan account number, choose the payment type, and proceed with the payment.
Loan repayment is one of the most important factors in managing your Flexi Loan account. If you fail to pay your EMIs on time, you might have to pay additional penal charges. It might also impact your CIBIL Score negatively.
Our customer portal – My Account offers you a host of payment options to manage your Flexi Loan repayment. These include advance EMI, part-prepayment, overdue payment, and foreclosure facility.
Check your Flexi Loan account
Sign-in to our customer portal in two simple steps and track your loan details easily.