Flexi Loan from Bajaj Finserv
The Flexi Loan from Bajaj Finserv for the Salaried Elite is an industry first. The product is designed as finance facility & convenience available to the customer as per his/her requirement.
It can also be termed as a safety fund available for any emergency: the loan amount can be applied as per the maximum eligibility of the customer, while the funds can be used as & when required .Interest is charged only on the amount used.
Via the Flexi Loan the funds are available in the virtual account of the borrower, he has the freedom to live his life, fulfil all responsibilities use & return the amount as he needs or desires.
How it Works
The Charges Applicable on a Flexi Loan
The Loan amount kept in the Experian account will not be charged any interest. As & when required /the need arises the Loan holder may transfer money online from the Experia account to the salary account. The interest is applicable once the amount is drawn from the Experia account.
The EMI will be charged to the applicants account on the 5th of every month. Interest will be charged on the funds used, or drawn from the Experian account. The interest will be charged for only the number of days for which the funds are used.
For example if Mr X has 10 lakhs in the Experian account; he draws 3 lakhs for 10 days, then transfers the amount back. The interest will charged for only the number of days the funds have been used.
Part payment or repayment of the money used can be done any number of times: as & when the applicant has surplus funds for the same.
The method of payback is by transferring the funds to a unique account number provided for the purpose; the funds will then be credited to the customer Flexi account. All part payment done will be added towards the Principal loan amount Balance.
The fore closure of the flexi loan can be initiated anytime after the payment of the 1st EMI.
The charges for fore closure will be levied as per the principal amount outstanding of the flexi loan.
The procedure to close your Flexi Loan is by raising a request to Bajaj Finserv customer care services for obtaining the statement of your Flexi Loan account.
The Principal Loan amount outstanding is to be deposited to the unique account number provided by Bajaj Finserv. Additional Fore closure charges will be levied as per the policy of Bajaj Finserv.
The Flexi personal loan has an annual renewal clause; giving the customer the choice to renew or pay back & close the Flexi Loan. A minimal charge for account maintenance is also applicable annually.
- Salary Slip for the Last 3 months.
Bank Statement from Salary account for the last 3 months showing 3 salary credits
- Form 16 for the last financial year.
Pan card copy / Age Proof /Signature Proof
- Photo Identification proof: Passport/Driving Licence/Voter I.D./Aadhaar Card/Ration Card
- Current Address Proof: Bank Statement, Utility Bill, Rent Agreement