Can Bajaj Finance Flexi Loan Cut Your EMI by 45%?

Bajaj Finserv Flexi Loan provides a compelling overdraft loan option, cutting EMIs by up to 45%. This loan, offered through Bajaj Finance, boasts rapid approval and an expedited disbursement via a hassle-free online application. Borrowers can withdraw funds as needed without incurring prepayment charges, and interest is only applied on the daily amount utilized.

The Bajaj Finance Overdraft Loan facilitates a loan amount up to Rs. 25 lakhs, subject to the borrower's profile, with interest rates beginning at 13% per annum, calculated daily. The repayment tenure may stretch up to 60 months, offering applicants swift approval typically within 5 minutes and 24-hour disbursal without needing collateral.

No prepayment charges are applied, though the processing fee can reach up to 4%. The eligibility criteria stipulate the age range from 21 to 67 years.

To be eligible for the Bajaj Overdraft Loan, applicants must be Indian nationals employed with an MNC, public, or private limited company. The minimum age should be 21 with a loan maturity age cap of 67 and a Credit Score of 750 or higher.

Applicants need to supply documentation such as Aadhaar Card, PAN Card, Driving License, Voter ID, or Passport for KYC purposes. In addition, past 6 months of bank statements, Form 16 or recent salary slips, and an Employee ID card are necessary.

The differences between the Bajaj Overdraft Loan and a Bajaj Term Loan primarily pertain to disbursement. A term loan distributes the total amount upfront, with interest calculated on the entire sum, covering both principal and interest as EMIs. The Bajaj overdraft option sanctions a specific amount where interest accrues only on utilized funds, and principal repayment is settled at the end of the term.

Getting a Bajaj Overdraft Loan involves a straightforward application process. Applicants fill in personal, financial, and employment details, select the desired loan amount and tenure, then submit documents for verification. Post approval, the loan is credited directly to the borrower's bank account within 30 minutes.