How much is the down payment in Flexi Finance?

Flexi Finance as one of the leader in sales financing offers fast and easy to avail of low-installment loans with a flexible downpayment amount as low as 10% of the selling price with the option of getting more than one item in a loan, and installment of up to 36 months.

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Also know, can you go to jail for not paying Flexi Finance?

You can’t be arrested for debt just because you’re behind on payments. No creditor of consumer debt — including credit cards, medical debt, a payday loan, mortgage or student loans — can force you to be arrested, jailed or put in any kind of court-ordered community service.

Likewise, do flex loans check credit? Flex loans come with a credit limit. … But flex loans are unsecured and can be an option if you have rough credit or little to no credit history. Flex loan lenders may not require a credit check. But as with virtually any type of credit, the more risk the lender assumes, the higher the interest rate you’re likely to pay.

Furthermore, how do I get approved for Flexi Finance?

Flexi Finance provides loans to any individual, who are aged between 18-68. Applicants must posses at least two valid IDs (SSS, TIN, Voter’s ID, Passport, Driver’s license). Applicant must also be employed at least for 3 months.

How does a flexi loan work?

With a Home Flexi Loan you reduce your regular outgoings by only paying the interest on your loan to start with. You can borrow up to your agreed limit and repay as often as you like. Interest is only charged on the amount you actually use. There are no extra fees for withdrawals and no charges for unused funds.

Is JuanHand legal?

About WEFUND LENDING CORP. (JuanHand) … WeFund Lending Corp is part of the Philippine FinTech Association and operates completely legally. The company plans to become one of the leading financial services providers in the Philippines.

What happens if I can’t pay my loan?

When a loan becomes NPA? When dues are not paid for more than 90 days. After this, bank will have to issue you a ’60 day notice’ under SARFAESI Act. In this notice period, the loan defaulter can payback the dues and close the case.

What happens if personal loan is not paid Philippines?

Your Debt Will Pile Up

For each month that your loan is unpaid, you’ll have to pay a late payment fee of 7% to 10% of the unpaid balance or PHP 200 to PHP 600, whichever is higher. Simply put, stopping your personal loan payments can quickly put you in deep debt.

What if loan is not paid?

Legal Action & Punishment for Non Payment of Personal Loan

If the loan is not repaid even after 180 days, the lender has the right to proceed legally against the borrower under Section 138 of the Negotiable Instruments Act 1881.

What is Flexi financial?

FlexiFinancials is a financial management solution that helps large and enterprise organizations manage complex accounting needs. It’s deployed either on-premise, in the cloud or in a hybrid environment. Companies have the option of purchasing the entire suite via the Flexi Workflow engine or just specific modules.

What is flexi salary advance?

A flexi personal loan offers you a pre-approved cash limit, which can be withdrawn whenever you are in need of funds. … Further, repayments are flexible, given that you can make as many prepayments as you wish to during the loan repayment tenure.

What is the benefit of Flexi loan?

Benefits of Flexi Loan

To get a fixed limit of money which is being set to withdraw money. The availability of funds remains at all times. The interest rate is lower than other loans. The loan repayment process is flexible.

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