When faced with a financial crunch, a personal loan can come to your rescue. Whether you require funds to deal with a medical emergency, renovate your home, meet wedding-related expenses or go on that much-needed vacation, it’s best to opt for a personal loan. Given the fact that the country is moving towards a complete digitized system, you can now avail a personal loan right from the comfort of your home. Yes, you heard that right – no bank visits, no long waits or tedious paperwork and definitely no middlemen involved at all!
One of the recent and convenient personal loans is the Flexi Loan. It is a new-age loan that immediately caters to the financial requirements of customers. With this loan, a pre-approved limit is provided by the lender to the customer which is credited to their account and can be used as and when required. A Flexi Loan can be availed by both salaried and self-employed individuals.
Bajaj Flexi Loan Features:
- Any loan amount within the credit limit can be withdrawn.
- You can prepay the borrowed amount as per your convenience.
- Even though the lender has pre-approved a certain limit, the interest will be levied only on the amount you withdraw.
Hybrid Flexi Personal Loan
If you’re in an urgent need for a personal loan but you’re worried about its repayment option, then the Hybrid Flexi Personal Loan is the ideal option for you. With unlimited withdrawals and flexible part-payments, Hybrid Flexi loans can help you live a stress-free life.
Criteria for Hybrid Flexi Loan –
Loan applicant should be below 50 years of age
Features of Hybrid Flexi Loan –
- Interest is charged only on your Bajaj Personal Loan EMI. During the initial period of your Hybrid Flexi Personal Loan, only the interest amount needs to be paid as the EMI.
- There is a flexible repayment method. Your principal amount is in your complete control and you can choose to make your part-payments as well.
- This loan gives you the liberty of unlimited withdrawals on your bajaj finserv flexi loan.
- Additional charges will not be levied if you choose to make part-payments for your principal amount and there is no restriction on when you could repay it.
- The tedious form-filling process has been eliminated for your convenience. With no repeated form filling, you can withdraw your money from your loan limit anywhere, and at any time.
- There is no reduction of loan limit during the interest period.
- You just have to pay a nominal maintenance fee at the end of every year to reap the benefits of this loan.
Benefits of Hybrid Flexi Loan –
- You can enjoy up to 4 years of principal holiday period
- There is no limit or charge on the number of part-prepayments or withdrawals
- Interest-only EMIs can help you manage your finances better
- Minimal chances of any loan default
- Through our customer portal, you can part-pay and withdraw your money instantly
You must try out the Hybrid Flexi Personal Loan for urgent requirement of finances with a hassle-free period of repayment. It serves best for a Personal Loan with flexi EMI repayment.
When Should You Take a Bajaj Flexi Loan?
The Bajaj Finserv Home Loan with the Hybrid Flexi loan can be availed by customers below the age of 50-years for home loans of any value. The hybrid Flexi loan facility is available for ready to occupy properties and for the refinancing of existing home loans with flexible tenors ranging up to 25 years, to fit an individual’s repayment capacity. By getting a bajaj finance flexi loan you also get an additional loan amount exclusively for furnishings and fixtures of the home, making this a lucrative home loan option available in the market.
If you apply for a Bajaj Finserv Home Loan with the Hybrid Flexi loan facility for an amount of Rs. 50 lakh for a tenor of 20 years. You are required to pay only the interest as an EMI for the initial 4 years. During this period, if Rs. 10 lakh is availed during principal moratorium period out of the Rs. 50 lakh loan limit, the loan limit will still be the same. From the 5th year onwards, the loan repayment schedule converts into a flexible-term loan, for the balance 16 years. During this 16-years, the loan amount withdrawal limit reduces each month until the approved loan amount reduces to zero when the loan tenor is about to end. There are no additional charges even if you choose to make part-payments for your principal amount, you will not incur any hidden charges.
Check your personal loan eligibility through Eligibility Calculator on Finserv MARKETS.
You can also download Bajaj Finance App for easy access.
You can also compare Personal Loan Online and offline.
“Finserv MARKETS, from the house of Bajaj Finserv is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!”