Today, personal loans have become an important financial tool for people to meet various needs, be it for higher education, home renovation, or any unforeseen expenditure. However, the real appeal of personal loans is not just their easy access, but also the facilities they provide, which makes them even more beneficial for borrowers.
With the added benefit of flexible fund withdrawal with certain lenders as and when required personal loan also give. This facility gives borrowers the freedom to access funds as per their changing financial needs.
Lenders such as Bajaj Finance Limited offer their personal loans in two different flexi loan variants: Flexi Term Loan and Flexi Hybrid Loan. When you choose one of these flexi variants, you are given a limit to borrow money. You can withdraw money as many times as you want from the limit given to you and you can also do part-prepay if you have more money.
Here are some of the features of Bajaj Finance Flexi Term Loan:
Flexi Term Loan gives the borrower the flexibility to draw as many times as he wants from the loan amount available to him and make prepayments whenever he has surplus funds. Here are some other benefits of Flexi Term Loan:
- Interest is charged only on the amount withdrawn and not on the entire loan amount sanctioned.
- By using this service, you can save money on interest by making part payments on your loan at no extra cost.
- You can enjoy simple, easy and hassle-free online transactions that allow you to withdraw money within the limits available to you.
Here are some of the features of Bajaj Finance Flexi Hybrid Loan:
The Flexi Hybrid Loan and the Flexi Term Loan are almost the same, with the added advantage of interest-only EMIs. You can opt for interest only EMI in the initial period with this variant. Like the Flexi Term Loan, the Flexi Hybrid Loan also allows you to draw multiple times from your available loan limit and easily make prepayments when you have excess funds.
Flexi Hybrid Loan gives you the flexibility to pay interest on your EMIs in two ways:
Initial Tenure: Your EMI will include the interest component of only the amount that you have utilized during the initial tenor.
Subsequent Tenures: Your EMI will consist of both principal and interest on the amount you have used in subsequent periods. The next period begins after the previous period ends.
Benefits of a Flexi Personal Loan include the following:
Borrow Money Anytime Anywhere: Flexi Loans give you the flexibility to withdraw funds from the loan limit as per your requirement, giving you instant access to funds to meet unforeseen expenses, that too with interest only on the amount withdrawn.
Low EMI: Since you can withdraw only as per requirement, you save on interest cost, which leads to lower monthly EMI payments and better cash flow.
Repayment becomes easier with part-prepayment: Flexi Loan allows part pre-payment of the loan without any additional charges, thereby facilitating repayment.
Instant and hassle free financing: Flexi personal loans offer instant approval and disbursal of funds within 24 hours without a lot of paperwork, and you can make multiple withdrawals without having to apply each time.
Interest only EMI: The option to pay interest-only EMIs gives you the flexibility to effectively manage month-to-month payments, with the principal falling due at the end of the loan tenure.
Bajaj Finance Personal Loan offers a great option with straightforward eligibility requirements. It comes with minimal documentation and instant fund disbursement of Rs. Provides facility up to 40 lakhs. With flexible tenors ranging from 6 to 96 months, you can Personal Loan EMI Calculator And one can easily access their website for helpful tools like interest calculator. Visit their page to avail personal loans today.
This article is a paid feature. ABP and/or ABP LIVE do not endorse/subscribe to the views expressed herein. We shall not be in any manner be responsible and/or liable in any manner whatsoever to all that is stated in the said Article and/or also with regard to the views, opinions, announcements, declarations, affirmations, etc., stated/featured in the said article. Accordingly, viewer discretion is strictly advised.
Medal table till September 30 in Asian Games 2023, India won a total of 38 medals, 10 gold, 14 silver and 14 bronze.
Asian Games 2023 Day 7 India wins total 5 medals in Squash and Tennis, Gold Medal, India’s total medal tally details on Day 7
Asian Games 2023: 3 boxers assured of medals, Lovlina Borgohain reaches semi-finals, hopeful of gold