Flexi Loan

Flexi Loan | Instant Approval | Loan upto 25 Lakhs

Salaried Individuals - Check your Loan eligibility!

✓Avail a Personal Loan for Travel ✓ Loan up to 20 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation! Apply Now

What is Flexi Loan?

With Flexi Loan, you are offered a pre-approved loan limit, which is determined on the basis of your credit profile. You can borrow funds multiple times from your account without the need for fresh applications and prepay as per your convenience.

And the best part! You are charged interest only on the utilised amount. This form of credit helps you manage immediate monetary requirements and offers easy prepayment options as well.

Features & Benefits of the Flexi Loan

Enjoy a High Amount of Credit

With Flexi Loan, you get a credit line of up to ₹25 Lakhs. So, whether you utilise the loan amount for recurring expenses or any kind of unplanned emergency, you will have a sound financial backing.

Affordable Interest Rates

Flexi Loan interest rate is affordable, which helps reduce your overall borrowing costs. The interest is calculated on the loan amount utilised by the end of the day.

Easy Application and Quick Sanction

The Flexi Loan comes with an ease of application by allowing you to apply online. Simply fill out the form and submit a few documents, and get a quick approval.

Lower Your Interest Obligation and Prepay Without Charges

Pay interest only on what you borrow and prepay your loan at your convenience without the need to pay any additional fee.

Minimal and Simple Documentation

Once you meet the required eligibility criteria, you can get quick loan approval. Simply submit KYC documents, bank account statements, and salary slips and you are done.

Flexi Loan Fees and Charges

Interest Rate	11% - 35% p.a.
Processing Fee	Up to 3.93% of the loan amount, along with applicable taxes
Maximum Loan Amount	Up to ₹25 Lakhs
Loan Tenure	12 months to 60 months
Foreclosure Charges	Up to 4.72% of the total withdrawable amount as per the repayment schedule as on the date of full prepayment
Part-payment Charges	NIL
Penal Interest	3.50% per month on the monthly instalment outstanding from the respective due date until the date of receipt of the monthly instalment

Disclaimer: Aforementioned loan specifics are subject to change at the discretion of the lending institution.

Eligibility Criteria for Flexi Loan

While the flexi loan eligibility parameters set by the lender are simple, apply only after you meet them. Here they are:

You need to be within the age bracket of 21 and 80 years, subject to the lender’s terms and conditions
You need to be an Indian resident
You need to work in a public or private company if you are a salaried employee

Documents Required for Flexi Loan

Here are some of the essential KYC documents to submit when you apply for a flexi loan online or offline:

Proof of Identity - Voter’s ID Card, Aadhaar Card, Passport, or Driving Licence
Address Proof - Passport copy/ Utility bill / Rental agreement/ Ration card
Latest salary slips or ITR copies
Bank account statements for the last 6 months

How to Apply for a Flexi Loan

The online process for availing a Flexi Loan is simple and convenient on Bajaj Markets. Follow the steps and get access to funds instantly.

Step 1: Click on the ‘APPLY NOW’ tab
Step 2: Select your profession and fill in other essential details like name, address, mobile number, etc.
Step 3: Check the applicable loan offer
Step 4: Enter the suitable repayment tenure and loan amount
Step 5: Receive funds in your bank account after the loan is sanctioned

Uses of Flexi Personal Loans

Here are various instances of how these flexi personal loans can help you manage both planned and unplanned financial requirements:

Manage unexpected medical expenses, especially when you do not know the total amount you need
Fund your children’s educational requirements or other recurring expenses
Use the funds as required for a vacation with your loved ones
Opt for these unsecured loans to renovate or improve the aesthetics of your home
Fund wedding expenses by applying for a flexi personal loan

Differences Between a Term Loan & Flexi Loan

Term Loan	Flexi Loan
EMIs include both principal and interest components	EMIs include only the interest during the initial repayment tenure
Pay the same EMIs over the entire course of the loan	Withdraw funds whenever required within the sanctioned limit.
You will be charged a prepayment charge, if you wish to prepay your EMI amount	You can also prepay the loan amount at no additional cost whenever you have surplus funds.