FlexSalary Personal Loans: Up to ₹2 Lakhs at 3.0% pm Interest Rate
FlexSalary Personal Loans: Up to ₹2 Lakhs at 3.0% pm Interest Rate
Mar 21, 2024
15 Mins
Introduction:
FlexSalary is offering personal loans up to Rs. 2 Lakhs at a 3.0% pm interest rate. The repayment tenure for FlexSalary loans is up to 36 months, and borrowers can also prepay their loans at zero charges.
FlexSalary Personal Loan Details:
Here are the key details of FlexSalary loans:
Minimum Loan Amount: Rs. 4,000
Maximum Loan Amount: Rs. 2 Lakhs
Tenure: 10 to 36 months
Rate of Interest: 36% p.a.
Processing Fee: Rs. 0 to Rs. 1,250 (charged only at the time of the first withdrawal)
Income Requirement: A minimum salary of INR 8000
Conditional Interest on Continued Line Usage: 0% to 1.75%
Annual Percentage Rate (APR): 18% to 54%
About FlexSalary Personal Loan:
FlexSalary is a fintech loan product developed by Vivifi India Finance Private Limited. Vivifi India Finance Private Limited is a non-banking financial company (NBFC) registered under the Reserve Bank of India (RBI). Since its establishment in 2016, this NBFC has been specializing in providing solutions for the growing demand of consumers for instant cash and loans. The loan features offered by FlexSalary are designed to make repayment convenient and help borrowers maintain a good credit score.
Note: FlexSalary is powered by https://www.vivifin.com/, and the information provided here is by Vivifi India Finance Pvt Ltd.
Features and Benefits of FlexSalary Personal Loan:
FlexSalary personal loans come with unique features that make accessing credit facilities easy. Some of the notable features include:
1. Easy Application Process: The application process is completely online, allowing borrowers to register, upload documents, and get approval based on their credit score through Artificial Intelligence.
2. Hassle-Free Loan Disbursal: Once approved, the loan amount is disbursed into the borrower's bank account within 24 hours, ensuring quick access to funds.
3. Affordable Repayment Options: FlexSalary aims to provide transparent and affordable loan options, giving borrowers complete control over the loan and its repayment terms.
4. Accessible Loan Account: Borrowers can easily check their outstanding loan amount and explore other loan options on their mobile phones. Regular reminders are sent so that borrowers never miss a repayment.
5. Prepayment Options: Borrowers can prepay their loans without any charges or penalties. This helps them save on interest and improve their credit score through faster loan consolidation.
6. One-Time Approval: Once approved, borrowers do not need to submit additional documents for subsequent loan applications, making it easy to access additional funds.
Terms and Conditions for FlexSalary Personal Loan:
Borrowers should be aware of the following terms and conditions:
1. All terms and conditions stated in the FlexSalary policy are subject to Indian laws.
2. Disputes arising from the use of the mobile application or website will be under the exclusive jurisdiction of the Courts of Telangana.
3. FlexSalary may share user information with business partners and unrelated third parties to facilitate and complete requests.
4. The collection and use of user identity information will be governed by FlexSalary's Privacy Policy.
5. Users must provide identifiable information during registration to avail exclusive services. This information includes name, email ID, phone number, SMS records, employer details, and income details.
6. The user's phone number and email ID may be used for administrative and marketing purposes, with an option to subscribe or unsubscribe when applicable.
7. Users must notify FlexSalary about any changes to the provided information.
8. Comments, reviews, messages, or blogs uploaded by users on public sections of the app or website are not considered personally identifiable information.
9. FlexSalary's services may not be available to customers who decline to provide necessary information.
10. The app may access relevant transaction data from the user's SMS inbox, limited to messages such as fees paid, service and product identities, etc.
11. User behavior may be tracked using Google Analytics for demographic details and targeted information.
12. Users have the option to opt-out of Google Analytics surveys through the provided Ad Settings.
13. All internet device connection information, including IP address, will be collected automatically by the servers.
14. Electronic tools like "cookies" may be used to assign a User ID and understand user interests and behavior, making the website more responsive.
15. Users can request to correct or amend any incorrect or incomplete personal or sensitive data, but repetitive or disproportionate requests may be declined.
16. Appropriate security features are implemented to prevent unauthorized access or alteration of data.
17. FlexSalary may change its policies to incorporate technological changes or applicable laws. Users will be notified of these changes through the app, website, or electronic messaging services.
18. FlexSalary reserves the right to modify or discontinue any services or suspend user access to the website or app without prior notice.
Documents Required for FlexSalary Personal Loan:
The documentation process for FlexSalary loans is simple. Borrowers are required to upload the following documents online:
1. Photo ID: PAN Card or Aadhaar Card
2. Address Proof: Rental Agreement/ Utility Bills/ Aadhaar Card
3. Proof of Income: Last 3 months bank statements
How to Apply for the Loan?
To apply for a FlexSalary loan, borrowers can follow these steps:
Through the App:
1. Download the application on any Android device from the Google Play Store.
2. Register by providing personal details, such as name, monthly income, email ID, and phone number.
3. Complete the OTP verification process.
4. Select the loan amount and tenure.
5. Upload the necessary KYC documents.
6. The loan will be assessed and approved based on the credit score.
7. Once approved, the loan will be disbursed within 24 hours.
Through the Website:
1. Visit www.flexsalary.com.
2. Click on the apply now icon.
3. Provide personal details.
4. Upload the necessary KYC documents.
5. Choose the desired loan amount and tenure.
6. Once the loan is approved, it will be disbursed into the borrower's account.
Why Apply for Personal Loans through MyMoneyMantra?
MyMoneyMantra has been established since 1989 as a platform connecting customers with various financial institutions. It offers easy services to help customers efficiently avail credit facilities. Here are some reasons why choosing MyMoneyMantra is an excellent option:
1. Strong Customer Base: MyMoneyMantra has over 40 million customers across the country, indicating its reliability as a source for credit facilities.
2. End-to-End Services: MyMoneyMantra provides comprehensive services for applying loans and credit cards. It takes care of all documentation and verification processes.
3. Extensive Network: With over 2500 relationship managers nationwide, MyMoneyMantra offers information on various products available on the portal.
4. Access to Multiple Providers: MyMoneyMantra grants a single point of access to over 90 NBFCs and banks, allowing customers to compare and make informed decisions about credit facilities.
5. Innovation and Recognition: MyMoneyMantra provides innovative products and services to fulfill customers' financial needs. It has received several banking awards and honors for its exemplary services.
6. Financial Planning Tools: MyMoneyMantra offers online tools like EMI Calculator to assist customers in planning their finances effectively and assessing the products available on the website.
7. Nationwide Availability: MyMoneyMantra is accessible in over 500 cities across India, allowing customers to apply for loans or credit facilities from any part of the country.
Eligibility Criteria for FlexSalary Loans:
To avail FlexSalary loans, applicants must meet the following eligibility criteria:
1. Residency: The applicant must be a resident of India.
2. Age: The applicant must be at least 21 years old.
3. Minimum Salary: The applicant must have a minimum salary of INR 8,000 per month.
4. Bank Account: The applicant should have a functioning bank account.
5. Work Experience: The applicant should have a minimum work experience of three months.
6. Valid ID Proof: Applicants must provide a valid ID proof to apply for these loans.
How to Calculate EMI for FlexSalary Personal Loan?
Calculating the EMI is crucial to understanding the affordability of any loan. There are two options available to calculate the EMI for a FlexSalary personal loan:
Using the Formula:
The EMI formula used for manual calculation is [P x R x (1+R)^N]/[(1+R)^N-1], where P denotes the loan amount, R denotes the rate of interest, and N is the repayment tenure.
Using EMI Calculator:
To ensure accurate calculations without errors, MyMoneyMantra provides a free EMI Calculator. Users can enter the loan amount, tenure, and rate of interest, and the calculator will compute the EMI instantly using the formula mentioned above.
What to Check after Calculating EMI?
After calculating the EMI, borrowers should consider the following:
1. Affordability: Ensure that you have enough money after deducting all mandatory expenses to make the EMI repayment comfortably.
2. Budget Adjustments: Make changes to your monthly budget to eliminate unnecessary expenses and save enough to meet loan repayments timely.
3. Tenure Selection: Consider choosing a tenure that reduces the EMI to make it more affordable.
FlexSalary Customer Care:
To contact FlexSalary customer care, use the following numbers:
- No: +91-40-4617-5151
- WhatsApp numbers: +919908795151/ +919908935151/ +919100038349
You can also send them an email at support@flexsalary.com for queries or grievances.
Trending Personal Loans:
MyMoneyMantra offers the best personal loan offers from India's most trusted banks. Currently, IDFC First Bank offers personal loans ranging from Rs. 50,000 to Rs. 40 Lakhs (Rs. 75 Lakhs as per eligibility norms) with interest rates starting from just 10.50% per annum and a processing fee of 0.5% to 2.50% of the sanctioned limit + GST.
Introduction:
FlexSalary is offering personal loans up to Rs. 2 Lakhs at a 3.0% pm interest rate. The repayment tenure for FlexSalary loans is up to 36 months, and borrowers can also prepay their loans at zero charges.
FlexSalary Personal Loan Details:
Here are the key details of FlexSalary loans:
Minimum Loan Amount: Rs. 4,000
Maximum Loan Amount: Rs. 2 Lakhs
Tenure: 10 to 36 months
Rate of Interest: 36% p.a.
Processing Fee: Rs. 0 to Rs. 1,250 (charged only at the time of the first withdrawal)
Income Requirement: A minimum salary of INR 8000
Conditional Interest on Continued Line Usage: 0% to 1.75%
Annual Percentage Rate (APR): 18% to 54%
About FlexSalary Personal Loan:
FlexSalary is a fintech loan product developed by Vivifi India Finance Private Limited. Vivifi India Finance Private Limited is a non-banking financial company (NBFC) registered under the Reserve Bank of India (RBI). Since its establishment in 2016, this NBFC has been specializing in providing solutions for the growing demand of consumers for instant cash and loans. The loan features offered by FlexSalary are designed to make repayment convenient and help borrowers maintain a good credit score.
Note: FlexSalary is powered by https://www.vivifin.com/, and the information provided here is by Vivifi India Finance Pvt Ltd.
Features and Benefits of FlexSalary Personal Loan:
FlexSalary personal loans come with unique features that make accessing credit facilities easy. Some of the notable features include:
1. Easy Application Process: The application process is completely online, allowing borrowers to register, upload documents, and get approval based on their credit score through Artificial Intelligence.
2. Hassle-Free Loan Disbursal: Once approved, the loan amount is disbursed into the borrower's bank account within 24 hours, ensuring quick access to funds.
3. Affordable Repayment Options: FlexSalary aims to provide transparent and affordable loan options, giving borrowers complete control over the loan and its repayment terms.
4. Accessible Loan Account: Borrowers can easily check their outstanding loan amount and explore other loan options on their mobile phones. Regular reminders are sent so that borrowers never miss a repayment.
5. Prepayment Options: Borrowers can prepay their loans without any charges or penalties. This helps them save on interest and improve their credit score through faster loan consolidation.
6. One-Time Approval: Once approved, borrowers do not need to submit additional documents for subsequent loan applications, making it easy to access additional funds.
Terms and Conditions for FlexSalary Personal Loan:
Borrowers should be aware of the following terms and conditions:
1. All terms and conditions stated in the FlexSalary policy are subject to Indian laws.
2. Disputes arising from the use of the mobile application or website will be under the exclusive jurisdiction of the Courts of Telangana.
3. FlexSalary may share user information with business partners and unrelated third parties to facilitate and complete requests.
4. The collection and use of user identity information will be governed by FlexSalary's Privacy Policy.
5. Users must provide identifiable information during registration to avail exclusive services. This information includes name, email ID, phone number, SMS records, employer details, and income details.
6. The user's phone number and email ID may be used for administrative and marketing purposes, with an option to subscribe or unsubscribe when applicable.
7. Users must notify FlexSalary about any changes to the provided information.
8. Comments, reviews, messages, or blogs uploaded by users on public sections of the app or website are not considered personally identifiable information.
9. FlexSalary's services may not be available to customers who decline to provide necessary information.
10. The app may access relevant transaction data from the user's SMS inbox, limited to messages such as fees paid, service and product identities, etc.
11. User behavior may be tracked using Google Analytics for demographic details and targeted information.
12. Users have the option to opt-out of Google Analytics surveys through the provided Ad Settings.
13. All internet device connection information, including IP address, will be collected automatically by the servers.
14. Electronic tools like "cookies" may be used to assign a User ID and understand user interests and behavior, making the website more responsive.
15. Users can request to correct or amend any incorrect or incomplete personal or sensitive data, but repetitive or disproportionate requests may be declined.
16. Appropriate security features are implemented to prevent unauthorized access or alteration of data.
17. FlexSalary may change its policies to incorporate technological changes or applicable laws. Users will be notified of these changes through the app, website, or electronic messaging services.
18. FlexSalary reserves the right to modify or discontinue any services or suspend user access to the website or app without prior notice.
Documents Required for FlexSalary Personal Loan:
The documentation process for FlexSalary loans is simple. Borrowers are required to upload the following documents online:
1. Photo ID: PAN Card or Aadhaar Card
2. Address Proof: Rental Agreement/ Utility Bills/ Aadhaar Card
3. Proof of Income: Last 3 months bank statements
How to Apply for the Loan?
To apply for a FlexSalary loan, borrowers can follow these steps:
Through the App:
1. Download the application on any Android device from the Google Play Store.
2. Register by providing personal details, such as name, monthly income, email ID, and phone number.
3. Complete the OTP verification process.
4. Select the loan amount and tenure.
5. Upload the necessary KYC documents.
6. The loan will be assessed and approved based on the credit score.
7. Once approved, the loan will be disbursed within 24 hours.
Through the Website:
1. Visit www.flexsalary.com.
2. Click on the apply now icon.
3. Provide personal details.
4. Upload the necessary KYC documents.
5. Choose the desired loan amount and tenure.
6. Once the loan is approved, it will be disbursed into the borrower's account.
Why Apply for Personal Loans through MyMoneyMantra?
MyMoneyMantra has been established since 1989 as a platform connecting customers with various financial institutions. It offers easy services to help customers efficiently avail credit facilities. Here are some reasons why choosing MyMoneyMantra is an excellent option:
1. Strong Customer Base: MyMoneyMantra has over 40 million customers across the country, indicating its reliability as a source for credit facilities.
2. End-to-End Services: MyMoneyMantra provides comprehensive services for applying loans and credit cards. It takes care of all documentation and verification processes.
3. Extensive Network: With over 2500 relationship managers nationwide, MyMoneyMantra offers information on various products available on the portal.
4. Access to Multiple Providers: MyMoneyMantra grants a single point of access to over 90 NBFCs and banks, allowing customers to compare and make informed decisions about credit facilities.
5. Innovation and Recognition: MyMoneyMantra provides innovative products and services to fulfill customers' financial needs. It has received several banking awards and honors for its exemplary services.
6. Financial Planning Tools: MyMoneyMantra offers online tools like EMI Calculator to assist customers in planning their finances effectively and assessing the products available on the website.
7. Nationwide Availability: MyMoneyMantra is accessible in over 500 cities across India, allowing customers to apply for loans or credit facilities from any part of the country.
Eligibility Criteria for FlexSalary Loans:
To avail FlexSalary loans, applicants must meet the following eligibility criteria:
1. Residency: The applicant must be a resident of India.
2. Age: The applicant must be at least 21 years old.
3. Minimum Salary: The applicant must have a minimum salary of INR 8,000 per month.
4. Bank Account: The applicant should have a functioning bank account.
5. Work Experience: The applicant should have a minimum work experience of three months.
6. Valid ID Proof: Applicants must provide a valid ID proof to apply for these loans.
How to Calculate EMI for FlexSalary Personal Loan?
Calculating the EMI is crucial to understanding the affordability of any loan. There are two options available to calculate the EMI for a FlexSalary personal loan:
Using the Formula:
The EMI formula used for manual calculation is [P x R x (1+R)^N]/[(1+R)^N-1], where P denotes the loan amount, R denotes the rate of interest, and N is the repayment tenure.
Using EMI Calculator:
To ensure accurate calculations without errors, MyMoneyMantra provides a free EMI Calculator. Users can enter the loan amount, tenure, and rate of interest, and the calculator will compute the EMI instantly using the formula mentioned above.
What to Check after Calculating EMI?
After calculating the EMI, borrowers should consider the following:
1. Affordability: Ensure that you have enough money after deducting all mandatory expenses to make the EMI repayment comfortably.
2. Budget Adjustments: Make changes to your monthly budget to eliminate unnecessary expenses and save enough to meet loan repayments timely.
3. Tenure Selection: Consider choosing a tenure that reduces the EMI to make it more affordable.
FlexSalary Customer Care:
To contact FlexSalary customer care, use the following numbers:
- No: +91-40-4617-5151
- WhatsApp numbers: +919908795151/ +919908935151/ +919100038349
You can also send them an email at support@flexsalary.com for queries or grievances.
Trending Personal Loans:
MyMoneyMantra offers the best personal loan offers from India's most trusted banks. Currently, IDFC First Bank offers personal loans ranging from Rs. 50,000 to Rs. 40 Lakhs (Rs. 75 Lakhs as per eligibility norms) with interest rates starting from just 10.50% per annum and a processing fee of 0.5% to 2.50% of the sanctioned limit + GST.
Author
Pluto Team
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