Eligibility to Withdraw Funds
Before initiating a withdrawal request from your Flexi Loan account, it is important to ensure that all eligibility conditions are met. These checks help ensure smooth processing and timely disbursal of funds.
First, your registered bank account must be active and verified. Any issues with account status can delay or prevent the transfer of funds. Second, your loan account should be free from overdue EMIs, as pending repayments may restrict withdrawals until dues are cleared.
You must also have sufficient available limit in your Flexi Loan account. Withdrawals are permitted only within the unused portion of your sanctioned limit. Additionally, ensure that your KYC details and profile information are fully updated, as incomplete documentation can block transactions. Finally, the withdrawal amount should fall within the permitted limits defined by your specific Flexi Loan variant.
How to Withdraw Funds (Drawdown)
Withdrawing funds from your Bajaj Finserv Flexi Loan is a simple, digital-first process designed for convenience. You can initiate a drawdown at any time using the Bajaj Finserv App or the official website.
Start by logging in with your registered credentials. Once logged in, navigate to My Account, select Flexi Loan, and choose the Withdraw Funds option. Enter the amount you wish to withdraw, ensuring it is within your available limit. Review the details carefully and confirm the request by entering the OTP sent to your registered mobile number.
After successful verification, the requested amount is transferred directly to your linked bank account, usually within a short time. This seamless process ensures quick access to funds whenever the need arises.
Favorite Transaction (Under Withdraw Funds)
The Favorite Transaction feature is designed to simplify repeat withdrawals by saving commonly used withdrawal preferences. It is particularly useful for customers who withdraw funds frequently or require the same amount at regular intervals.
What is Favorite Transaction?
A Favorite Transaction is a saved withdrawal template that stores details such as the withdrawal amount. Once saved, these details can be reused without re-entering information every time.
When to Use?
This feature is ideal for:
Monthly or weekly fund transfers
Regular payments such as rent, school fees, or vendor payouts
Frequent withdrawals of the same amount
Benefits:
Saves time by reducing manual input
Auto-fills withdrawal details
Enables faster and more efficient processing
Feature 1: Flexi Lite
Flexi Lite is a simplified withdrawal mode created for small, everyday financial needs. It offers a faster way to access funds without going through multiple authentication steps, making it highly convenient for routine expenses.
What is Flexi Lite?
Flexi Lite allows you to make quick, small-value withdrawals with minimal friction, ensuring ease of access for day-to-day requirements.
What it offers:
OTP-free withdrawals up to ₹15,000 in a day
Smooth and faster daily transactions
Ideal for customers who make frequent small withdrawals
Helps manage everyday expenses efficiently without disrupting cash flow
Feature 2: Drawdown Functionality Enhancements
To provide greater control and flexibility, Bajaj Finserv offers enhanced drawdown features that support better financial planning and disciplined usage.
a) Scheduled Withdrawal
What is Scheduled Withdrawal?
Scheduled Withdrawal is a feature that allows you to plan and schedule a withdrawal for a future date or specific time. Instead of making manual requests each time, you can set withdrawals in advance.
When to use?
This feature is especially useful for:
Managing monthly expenses
Paying recurring bills
Ensuring funds are credited on a specific date
Budget planning and controlled usage of your loan limit
