Another excellent benefit of Bajaj Finserv Flexi Term Loan facility is that you only pay interest on your withdrawal amount. So, if you first withdraw only Rs. 2 lakh, you will pay interest on this. … 10 lakh, you will pay interest on Rs.
In this way, can I close Bajaj Flexi loan?
If you wish to foreclose your Flexi loan account, an additional fee of 4% (plus taxes and cess) on the total withdrawable amount is applicable.
In respect to this, what is hybrid flexi?
A Flexi Hybrid Home Loan enjoys a tenor of up to 30 years, and you can make part-prepayments towards it anytime you wish to, as many times as you wish to, without paying any extra charge. … You can then avail this amount as a loan if you need finances later and pay only interest on it.
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.
The lender sets an interest rate of 10.25% and a processing fee of 2% of the loan amount.
|Tenure||Depends on your preference and loan sanctioning conditions|
|Loan Amount||As per individual applicant profile|
|Processing Fee||0.25% of loan amount + GST|