Our Flexi loan comes with a host of features. Here is the list of some of the benefits of Flexi loan variants –

• 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.

Interest is charged only on the amount withdrawn and starts accruing from the day the funds are disbursed to your account.

The principal amount refers to the total amount you borrow from us and must repay. This amount reduces when you make part-payments and increases when you drawdown money from your Flexi Loan account.

• Principal amount: It is the initial total amount that you borrow from us, and it is the basis for calculating your interest and determining your repayment schedule.

• Changes in principal amount: The principal amount can change over the course of your Flexi Loan. It decreases when you make part-payments, effectively reducing your outstanding debt. On the other hand, it increases when you drawdown additional funds from your Flexi Loan account.

• Viewing principal amount calculation: To understand the calculation of your principal amount, you can refer to your loan statements, loan agreement or repayment schedule.

Applying for a Flexi loan is easy and hassle-free. You can simply select Flexi loan variants when you are applying for any loans. Please note that you can opt for Flexi loan only for those products on which this variant is available.

You cannot convert your existing term loan into a Flexi loan.

Similar to any other loan, a Flexi loan requires basic documents such as your PAN card, KYC documents, bank account statements, and salary slips. However, the specific document requirements may vary depending on the type of loan you are applying for. For instance, if you are opting for a Flexi loan on a business loan, the documentation will differ from that required for a Flexi loan on a personal loan.

The eligibility criteria for a Flexi loan depend on the type of loan product you are applying for. For example, the eligibility requirements for a Flexi loan on a personal loan will differ from those for a business loan. Therefore, it is recommended to review the specific eligibility parameters for the loan product you wish to apply for.

The CIBIL Score for a Flexi loan depends on the type of loan product you are applying for. For example, the CIBIL Score requirement for a Flexi loan on a personal loan will differ from those for a business loan. Therefore, it is advised to review the specific CIBIL Score requirement for the loan product you wish to apply for.

Our Flexi variants allow you to withdraw funds as many times as you need from the available limit during the loan tenure. It also allows you to part-prepay your loan as many times as you can. You can do this without incurring any additional fees. However, when you choose any of our Flexi variants, you will be charged with annual maintenance charges. Your AMC fee will be adjusted from your available Flexi loan limit.

This fee is charged to ensure that you can use other facilities such as part-prepaying at no extra cost and multiple withdrawals.

You can withdraw funds as many times as you need from the available limit of your Flexi Term Loan.

Your interest is calculated on a daily basis. The lender determines your daily interest based on your annual interest rate, and this rate is applied to the outstanding dues each day.

It is an option to save a frequently preferred withdrawal amount. It will help you easily and quickly enter an amount without having to enter it manually. You can select between Rs. 1,000 and the maximum amount of your available loan limit.

The Bajaj Finance Limited Flexi Lite is a facility offered on your Flexi Term (Dropline) Loan and Flexi Hybrid Term Loans. You can place a Flexi Drawdown request up to Rs. 5,000 without submitting an OTP.

The minimum Flexi drawdown is Rs. 1,000, while the maximum Flexi drawdown under Flexi Lite is Rs. 5,000. No OTP is required for these transactions. However, it is important to note that the maximum Flexi drawdown under Flexi Lite in a day is Rs. 15,000.

In a Flexi Loan, the scheduled withdrawal feature allows you to request an advance withdrawal for an amount up to your current available limit. The requested funds will be credited to your registered bank account on the scheduled date. You can schedule this request up to 30 days in advance.

The repeat withdrawal feature in a Flexi Loan enables you to pre-set a withdrawal request for an extra month alongside a scheduled withdrawal. If you select the "Repeat Withdrawal" option when making a scheduled withdrawal request, the same amount will be deposited into your bank account 30 days after the scheduled withdrawal date.

Yes, the EMI amount reduces after making a part-prepayment for Flexi Loan. You can view the same by visiting the My Relations section and selecting your Loan Account Number (LAN).

When you choose our Flexi loan variant, you can part-prepay your loan multiple times without any additional charges.

There are foreclosure charges applicable on a Flexi loan. You can check our fees and charges page to learn more about these foreclosure charges.

No, there are currently no additional charges for using the scheduled or repeat withdrawal feature.

The Annual Maintenance Charge (AMC) is a fee levied on Flexi Loans on an annual basis. This Flexi facility allows multiple withdrawals and/or repayments on your loan account from time to time, within the overall sanctioned limit. The AMC is calculated based on the Dropline Limit (as per the repayment schedule) on the date the charges are levied.

"Flexi Facility Charges" refer to the one-time charges/fees payable by the borrower(s) to the lender for availing the Flexi Term (Dropline) Loan or Flexi Hybrid Term Loan, as the case may be.