Flexi-Loan for salaried Offers Starts from 10.50%,
Flexi LoanA Flexi loan is Once approved, an unsecured Flexi loan facility will give you access to quick money to meet your individual needs. It is subject to credit review annually and is revolving. The interest will charge as and when the amount is withdrawals. On repayment of the principal + interest, only the principal amount is again available for a withdraw from the Flexi Loan Account.
Benefits and Key Features of Unboxing Flexi loan with Us:A personal loan may use for any reason provided that it is morally acceptable. Specific lenders offer various loan products based on intention, which mention in the loan application by the borrower. Based on the reasons, these are some main reasons how personal loans can use:
- Simple Documentation: The documentation and paperwork are minimal, which keeps you hassle-free.
- Easy repayment options: Pay interest only on the utilized amount. Part-payment facility available without any extra charge.
- Multiple withdrawals via Online Transactions: Withdraw and pay back multiple times within the credit sanctioned/available limit.
- Fixed Limit: Limit stays fixed for one year for 48 Months Tenure products. Drop-in deadline to start post 12 Months. Limit remains set for two years for 60 Months Tenure products. The drop-in limit starts after 24 Months.
Eligibility and Documents Required for Flexi loan Process:
- Age:18-65 Years
- Minimum net monthly income: Rs.15,000
- Work Experience: At least 6-12 months
Proof of both Identity and Residence (KYC):
- PAN card
- Voter ID
- Aadhaar Card
- Driver's License
Proof of income:
- Last three months' Salary Slips
- Previous six months' salary account Bank Statements
- Latest Form-16 and IT returns
- Offer Letter (If Customer Having Less Than a Year Experience in Current Company)
- Company ID Photo Copy
- Passport Size Photographs
How You will Unbox Your Flexi loan
- Fill up an online application form with the necessary documentation
- Upon submission and once verified, we send an acknowledgment of the given contact details.
- Receive the loan amount in your account.
Recommendations for the successful application of Flexi Loan.
- Evaluate your loan needs
- Research to get the best rate offers
- Thoroughly review the terms and conditions on your loan document
- Choose your lending tenure by evaluating your ability to repay
- Pick an interest rate that is affordable to you
- Choose your loan amount according to your comfort
- Check your EMIs properly
- Compare the processing fee
How to avoid refusing an application for a Flexi loan?
- Approval of a request for a Flexi loan will depend on several factors. When applying for a loan, you should make sure that all the aspects meet adequately to ensure your loan application is approved.
- Flexi loan eligibility requirements can vary from lender to lender. Several standard eligibilities include the applicant's age, income, credit score, employment status, and so forth. Before applying for a loan, ensure all eligibility criteria have met.
- Will help avoid your loan application refuse. Also, there are other options you can use in case your loan application reject; it recommends double-checking before applying to prevent the probability of the application rejected.
What to Dos Before applying for a Flexi loan?
- Research offers before you apply for a loan.
- Do read the fine print carefully.
- Do save your monthly income for repaying.
- Pay installments of your loan timely.
- Apply for an affordable loan amount.
Fees and charges for Flexi Personal Loan/overdraft salaried:
- Processing fee.
- Services Tax or GST.
- Verification charges. (if applicable)
- Fees for issuing duplicate statements
- Penalty for default EMIs
- Penalty for pre-payment and part payment of the loan
- lenders might collect documentation charges. These rates differ from lender to lender.