This facility allows you to access a certain amount to you for a specific tenure. You can make multiple withdrawals from this amount based on your requirements. The benefit here is that
you only pay interest on what you withdraw and the rest of the amount remains interest-free.
Such a scheme is especially useful when you are availing a personal loan for a wedding or travel, as last-minute expenses can disturb the math.
You can further choose to pay interest-only EMIs and pay off the principal at the end of the tenure which can help you manage your cash flow better. Interestingly, you can prepay funds when you have the money at no cost and even re-avail the prepaid amount.
Implementing these methods can help manage your loan repayment effectively. Such methods will not only help you reduce your repayment burden, but also keep your CIBIL score healthy so that you can avail loans whenever you require. With financing options available on Finserv MARKETS, you can borrow money as and when you need from your sanctioned amount, without the need for multiple applications and additional documentation. Besides, Finserv MARKETS offers the fastest personal loans in India – with disbursal in just 24 hours of your loan getting approved. Also, you can avail Instant Personal Loan up to Rs. 25 Lakhs based on your eligibility.