What are the key benefits of a flexi loan?

Here are some of the key benefits of flexi loan:

• Quick Disbursal: A key benefit is getting funds disbursed into the bank account generally within a few hours or by the next working day after loan approval. This helps meet urgent financial needs.
• Flexible Repayments: Flexi loans allow customising the Equated Monthly Instalment (EMI) amounts each month as per cash flow availability. The option to pay only the interest component provides temporary relief.
• Loan Tenure Extension: A facility to increase loan repayment tenure is available by paying a small extension fee. This helps reduce the EMI burden.
• Foreclosure Allowed: Flexi loans can be prepaid or foreclosed without paying any penalty charges, offering flexibility.
• Low Eligibility Criteria: Loan approval requires minimal Know Your Customer (KYC) documents and proof of income. First-time applicants can also apply for flexi loans.
• Digital Processing: End-to-end flexi loan processing from application to disbursal happens online rapidly through a paperless process.