A Flexi Loan is a variant of the standard personal loan. Unlike a regular personal loan, where you borrow funds once and pay back a fixed EMI over the selected tenure, a Flexi Loan gives you more flexibility. With the Bajaj Finance Flexi Loan, you can withdraw the funds easily from your sanctioned loan limit and repay them when you have the additional funds. Here, interest will be charged only on the amount that you have withdrawn from the loan account.
What are the types of Flexi Loans?
Bajaj Finance offers two unique variants of Flexi Loans: Flexi Term Loan, and Flexi Hybrid Loan.
- Flexi Hybrid Loan
With a Flexi Hybrid Loan, you can borrow money from your sanctioned loan limit as often as you require and prepay the loan at your convenience. This facility comes with the additional benefit of paying interest-only EMIs during the initial tenure of the loan.
- Flexi Term Loan
Flexi Term Loan is similar to a regular term loan, but it comes with the added benefit of making multiple partial prepayments and withdrawals from the sanctioned loan amount.
Which variant of Flexi Loan is better for you?
In the modern environment, we need more financial flexibility to cover our unforeseen expenses. That is when Flexi Loans can be useful. So, if you are looking for a loan where you can get the benefit of reducing your burden of paying EMIs during the initial tenure. Also, if you need the flexibility of making multiple withdrawals from the sanctioned loan limit and pre-paying the loan at your convenience. Then, you can go ahead with our Flexi Hybrid Loan.
Bajaj Finance Limited provides Flexi Hybrid Loans with competitive interest rates starting at 11% p.a. Apply for the Flexi Hybrid Loan, receive instant approval for up to Rs. 40 lakh and get the funds you need within 24 hours* of approval in a stress-free manner.
*Terms and conditions apply.
