Flexi Personal Loan: Flexible Financing for Your Needs
A Flexi Personal Loan is a unique financial product that allows you to borrow funds as needed, repay, and re-borrow within your approved limit. This flexible loan option is ideal for managing variable expenses like home renovations, medical emergencies, or business needs.
- Minimal documentation
- Starting ROI 10.25%* Onwards
- Flexible tenure up to 5 years
- Max Loan Amount 40L - 1 Cr
1+ Million
Happy Customers
Rs. 250+ crore
Monthly Personal Loans Disbursal
Wide Range of 60+
Partner Banks & NBFCs
Support team 500+
Team Size of Experts
Benefits of Flexi Personal Loan
Flexi Personal Loans offer unmatched flexibility compared to traditional personal loans. Here are the key benefits of choosing a Flexi Personal Loan:
Access to Liquid Cash
A Flexi Personal Loan allows multiple withdrawals from your approved limit, providing continuous access to liquid funds whenever needed. This feature is ideal for managing unexpected expenses or ongoing financial requirements.
Low Interest Rates
Flexi Personal Loans often come with competitive interest rates. Importantly, interest is charged only on the amount you withdraw, not on the entire loan amount. Many lenders also calculate interest on a daily basis, making it even more cost-effective.
No Prepayment Charges
Flexi Personal Loans do not impose any prepayment fees, allowing you to repay the borrowed amount at your convenience without incurring additional costs. This helps in reducing the overall interest burden.
No Collateral Required
Flexi Personal Loans are unsecured, meaning you don't need to provide any security or collateral. This makes it an accessible option for those without substantial assets who need immediate financial assistance.
Multipurpose Usage
There are no restrictions on how you can use a Flexi Personal Loan. Whether it’s for travel expenses, medical emergencies, or any other personal need, the flexibility to use the loan for multiple purposes makes it a versatile financial solution.
Eligibility Criteria for Flexi Personal Loans
To be eligible for a Flexi Personal Loan, you must meet the following criteria:
Applicant Age
The applicant must be between 21 and 58 years of age at the time of loan application. The maximum age should not exceed 58 years when the loan matures.
Work Experience
A minimum of one year of total work experience is required, with at least six months in the current job.
Income
The applicant should have a minimum monthly net income of Rs. 20,000 to qualify for a Flexi Personal Loan.
Employment Category
Applicants must be employed full-time in a private or public limited company, LLP, or a comparable organization.
Citizenship
Only Indian residents are eligible to apply for a Flexi Personal Loan.
Credit Score
A minimum credit score of 650 is typically required. Maintaining a good credit history, timely repayment of existing debts, and a low credit utilization ratio are crucial for improving your credit score and loan eligibility.
Meeting these eligibility criteria increases your chances of loan approval and helps secure the best terms for your Flexi Personal Loan.
Documents Required for Flexi Personal Loan
Having the necessary documents ready can streamline your Flexi Personal Loan application process. Here are the typical documents required:
KYC Documents
PAN Card and Aadhaar Card are mandatory for identity verification.
Address Proof
Valid address proof such as an Indian passport, rent agreement, or recent electricity bill.
Income Proof
The latest salary slip from your employer, indicating your monthly income.
Bank Statement
Original bank statements for the last three months in PDF format.
Employment Proof
Employment proof such as an offer letter, monthly salary slips, or a copy of the employment contract.
EMI Calculator
Amount
Tenure
% Interest
Principal
Interest
Total Payable
Compare the best Personal loan offers
IDFC First Bank
10.25%
1% - 2%
₹ 1 cr
6 month to 5 year
Bajaj Finserv
11%
3.93%
₹ 35 lacs
1 to 7 years
Axis Bank
10.49%
1.5% - 2%
₹ 15 Lacs
1 to 5 years
Tata Capital
10.99%
5.5%
₹ 35 lacs
upto 6 Years
Axis Finance
13.0%
2%
₹ 15 lacs
0 to 3 years
Upwards
18%
2% - 4%
₹ 3 Lacs
1 to 5 years
Fullerton India
11.99%
6%
₹ 25 lacs
1 to 5 years
Finnable
16%
3% - 4%
₹ 10 Lacs
Upto 5 years
Incred
13.99%
2%-4%
₹ 15 lacs
1 to 5 years
FairCent
9.99%
8%
₹ 10 lacs
6 months to 3 years
Moneyview
15.96%
2%
₹ 10 Lacs
1 to 5 years
Standard Chartered Bank
11.49%
2.25%
₹ 1 lacs to 50 lacs
1 to 5 years
IIFL
12.75%
2% - 9%
₹ 1 lacs to 25 lacs
1 to 5 years
IndusInd Bank
10.49%
3%
₹ 3 Lacs to 75 Lacs
1 to 50 years
Kotak Bank
10.99%
3%
₹ 25 Lacs
1 to 5 years
ICICI Bank
10.85%
2%
₹ 25 Lacs
1 to 6 years
RBL Bank
18%
2%
₹ 20 lacs
1 to 5 years
HDB Financial
10% - 35%
3%
upto ₹ 20 lacs
1 to 5 years
IDBI Bank
11.0%
1 %
₹ 5 Lacs
1 to 5 years
HDFC Bank
10.75%
2.50%
₹ 40 Lakhs
1 to 5 years
Karur Vysya Bank
11.15%
0.50%
upto ₹ 75 lacs
1 to 6 years
Union Bank of India
11.35%
1.0%
upto 15 lacs
1 to 5 years
Canara Bank
10.95%
0.50%
upto ₹ 10 lacs
0 to 7 years
Bank of Maharashtra
10.0%
1%
upto ₹ 20 lacs
0 to 7 years
Federal Bank
11.49%
2.50%
₹ 50 lacs
1 to 5 years
Syndicate Bank
12%
0.50%
₹ 5 lacs
1 to 5 years
Bank of Baroda
11.40%
2%
₹ 15 Lacs
1 to 7 years
PNB
10.95%
1%
upto 20 lacs
1 to 6 years
Yes Bank
10.99%
2%
₹ 40 lacs
1 to 5 years
Aditya Birla Capital
10.99%
3%
₹ 50 Lacs
0 to 7 years
Paysense
16.80%
2.5%
₹ 15 Lacs
3 Months to 5 years
MoneyTap
13%
2%
upto ₹ 5 lacs
2 months to 3 years
