Flexipay: Know the Meaning, Examples and How it Works

Flexipay is a buy now pay later service that benefits you to make purchases before and pay for them later. Read on to know more about how Flexipay works and what are its benefits and examples.
Flexipay: Know the Meaning, Examples and How it Works
5 min read
03 August 2023

In today's dynamic world, financial needs often arise without warning, be it medical emergencies, higher education expenses, home renovations, or any personal requirements. During such times, having access to quick and flexible financing can be a lifesaver. Instant financing has been a popular solution for individuals seeking credit assistance and with the advent of innovative products like Flexi Personal Loans and Flexipay, borrowers now have even more flexibility and convenience at their fingertips.

What is flexipay?

Flexipay is a financial service that allows users to buy products or services and then repay the amount in manageable instalments over a predetermined period. Flexipay grants individuals flexibility in handling their finances, enabling them to make purchases without the necessity for immediate full payment. 

How does a flexipay work?

  • Flexipay works on the Buy Now Pay Later principle and operates by allowing users to divide their purchases into smaller, manageable payments.
  • When making a purchase, users can select the flexipay option and choose the desired instalment plan.
  • The total cost is then divided into equal or predetermined instalments, including any applicable interest.
  • Users are required to make regular payments over the agreed-upon period. These payments can be weekly or monthly, depending on the terms.
  • Once the instalments are completed, the purchase is considered paid off. It's particularly useful for those looking to avoid upfront lump-sum payments.

Bajaj Finance Limited does not provide a Flexipay facility, however, we offer similar services with our Flexi Loan variants – Flexi Term Loan and Flexi Hybrid Loan. Flexi Personal Loans are unsecured, which allows borrowers to avail of a loan amount and use it as per their requirements. The most significant advantage of this loan type is its flexibility, where borrowers can withdraw and repay funds from the sanctioned amount as and when needed. The interest is charged only on the withdrawn amount, rather than the entire approved loan limit.

Let us take a closer look at the Flexi Term Loan and Flexi Hybrid Loan to find out its benefits

Flexi Term Loan

Flexi Term Loans offer you the freedom to withdraw funds from your pre-assigned limit whenever you need them, with the added convenience of pre-paying the loan when you have surplus funds. Moreover, you can enjoy the following advantages:

  • Borrow as many times as you require from the sanctioned loan limit.
  • Pay interest only on the amount withdrawn, not on the entire sanctioned limit.
  • Your loan limit reduces with each withdrawal that you make but is reinstated if you pre-pay the principal.

Flexi Hybrid Loan

Similar to the Flexi Term Loan, the Flexi Hybrid Loan provides the benefit of paying interest-only EMIs during the initial period of the loan. The key features include:

  • You can pay only the interest component as EMIs during the initial tenure, giving you more flexibility in managing your finances.
  • Whenever you have additional funds, you can make pre-payments towards the principal amount.
  • Pre-paying the principal increases your sanctioned loan limit accordingly, providing you with access to more funds as needed.

Flexi Personal Loans offered by Bajaj Finance Limited have revolutionised the credit market in India with their unique features and benefits. The flexibility, instant approval and competitive interest rates make them a preferred choice for individuals seeking financial assistance without compromising on convenience. Whether it is fulfilling personal aspirations or addressing immediate financial needs, Bajaj Finance Flexi Personal Loans provide a reliable and accessible solution, reaffirming the company's commitment to providing innovative and customer-centric financial products.


While care is taken to update the information, products, and services included in or available on our website and related platforms/ websites, there may be inadvertent inaccuracies or typographical errors or delays in updating the information. The material contained in this site, and on associated web pages, is for reference and general information purpose and the details mentioned in the respective product/ service document shall prevail in case of any inconsistency. Subscribers and users should seek professional advice before acting on the basis of the information contained herein. Please take an informed decision with respect to any product or service after going through the relevant product/ service document and applicable terms and conditions. In case any inconsistencies are observed, please click on reach us.

*Terms and conditions apply