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Flexible Credit
Flexi Personal Loan – Borrow Smart
Withdraw funds as needed and pay interest only on the utilized amount. A flexi personal loan gives you the freedom to manage cash flow without fixed EMI pressure.
65+
Lending Partners
Rs.65k Cr+
Loans Disbursed
Loan Details
Flexi Personal Loan Calculator
Calculate your EMI and total interest for a flexi personal loan with flexible repayment options.
Instant Approval
No Hidden Charges
100% Digital Process
Representative Example:
Borrow ₹5,00,000 over 12 months at 9.99% APR. Total repayment: ₹5,27,467.42 with monthly EMIs of ₹43,955.62.
EMI Calculator
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Enter Loan Amount
₹5,00,000
50K50L
9.99
8%30%
1
1Y10Y
Monthly EMI
₹43,955.62
Total Interest
₹27,467.42
What is a Flexi Personal Loan?
A flexi personal loan provides a pre-approved credit limit from which you can withdraw funds as needed. Unlike regular personal loans, you pay interest only on the amount you actually use, not the entire sanctioned limit.
Repayment is flexible — you can repay and re-borrow multiple times within the loan tenure of 12 to 60 months. EMIs are calculated only on the utilized amount, resulting in significant interest savings.
Basic requirements:
- Age between 21 and 58 years (salaried)
- Minimum monthly income of ₹20,000
- CIBIL score of 700+ preferred
- At least 1 year of work experience
Flexi loans are ideal for individuals with recurring or unpredictable financial needs such as business expenses or medical emergencies.
Financial Guide
Flexi Personal Loan Interest Rates
Flexi personal loan interest rates typically range from 11% to 16% p.a. Unlike traditional term loans, you pay interest only on the amount you withdraw, not the full sanctioned limit.
How to Maximize Your Flexi Loan
A flexi loan is a powerful financial tool—but only if you use it wisely. Here's how to get the most value:
1
Withdraw Only What You Need
The biggest advantage of a flexi loan is that interest is charged only on the utilized amount. Don't withdraw the full limit unless absolutely necessary.
2
Repay Surplus Funds Immediately
Park unknown bonus, incentive, or surplus cash back into the flexi account. This instantly reduces your interest burden since interest is calculated daily.
3
Use It as an Emergency Buffer
Keep the sanctioned limit as a safety net. You pay nothing until you actually use it—making it an ideal emergency fund alternative.
4
Compare with Overdraft Options
Some banks offer overdraft facilities with similar features but lower annual fees. Compare both before choosing.
5
Watch for Annual Renewal Fees
Flexi loans may have annual renewal charges. Factor this cost into your calculations to ensure the flexibility is worth the price.
Flexi Personal Loan Eligibility
Check eligibility A flexi personal loan gives you a pre-approved credit limit from which you can withdraw funds as needed. Here are the key eligibility criteria:
Age: Applicant must be between 21 and 58 years (salaried) or up to 65 years (self-employed).
Income: Minimum monthly income of ₹20,000 for salaried individuals; ₹2.5 lakh annual income for self-employed.
Credit Score: A CIBIL score of 700+ is preferred for better interest rates and higher credit limits.
Employment: Minimum 1 year of total work experience with at least 6 months in the current job.
Withdrawal Limit: Borrow only what you need from the sanctioned limit, reducing overall interest burden.
Repayment Flexibility: Interest is charged only on the withdrawn amount; repay and re-borrow within the tenure.
Flexi Personal Loan Fees and Charges
Flexi personal loans offer interest savings since you pay only on the utilized amount. However, standard processing and administrative fees still apply:
| Particulars | Charges |
|---|---|
| Processing Fees | 1% to 3% of the sanctioned credit limit |
| Interest Rate | 10.5% – 24% p.a. (Charged only on withdrawn amount) |
| Withdrawal Charges | Nil (Unlimited free withdrawals from sanctioned limit) |
| Part-Payment Charges | Nil (Repay anytime to reduce interest burden) |
| Foreclosure Charges | Nil to 2% (Often waived after 6–12 months) |
| Credit Limit Maintenance Fee | ₹ 500 – ₹ 2,000 per annum (Some lenders waive this) |
| Late Payment Penalty | 2% – 3% per month on overdue amount |
Other fees and charges levied by the lenders include documentation charges, verification charges, duplicate statement charges and NOC certificate charges.
Why Choose a Flexi Personal Loan?
A flexi personal loan gives you a pre-approved credit limit and lets you withdraw only what you need—saving significantly on interest.
Key Advantages
- Pay Interest Only on Withdrawn Amount
- Withdraw and Repay Multiple Times Within Tenure
- Lower Effective Interest Cost vs Regular Loans
- No Prepayment or Foreclosure Penalties
- Ideal for Recurring or Unpredictable Expenses
- Instant Access to Funds via Net Banking
Flexi Personal Loan vs Regular Personal Loan
Both are unsecured loans, but the flexi variant gives you a revolving credit line. Here is how they compare:
| Flexi Personal Loan | Regular Personal Loan |
|---|---|
| Withdraw as needed from sanctioned limit | Entire amount disbursed at once |
| Interest only on utilized amount | Interest on full loan amount |
| Repay and re-borrow within tenure | Fixed EMIs, no re-borrowing |
| Ideal for ongoing or unpredictable expenses | Ideal for one-time large expenses |
| Interest Rate: 10.5% – 24% p.a. | Interest Rate: 10.5% – 22% p.a. |
| Processing Fee: 1% – 3% | Processing Fee: 1% – 3% |
| Tenure: 12 to 60 months | Tenure: 12 to 60 months |
| Best for: Flexible cash needs, interest savings | Best for: Fixed-cost purchases or debt consolidation |
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