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Flexi Loan

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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Features and Benefits of Flexi Personal Loans

Flexi loans are most suited for applicants who are looking for a personal loan with a relaxed repayment schedule. Some of the main features and benefits of a flexi personal loan are as follows:

  • Easy Access to Funds: A flexi loan borrower can withdraw funds at any point of time, as per their requirement, within the credit limit approved by their lender.
  • Flexible Repayment: Existing flexi loan borrowers can clear the outstanding principal amount, when they have excess funds, as per their convenience.
  • Multiple Withdrawals: Borrowers can take out funds more than once, within an approved credit limit, without paying any additional charges.
  • Lower Interest Component: A flexi personal loan gives borrowers the opportunity to save on the interest amount. The lender calculates the interest payable only on the withdrawn amount and until their repayment. The interest component is not charged on the total sanctioned limit. For example, if a borrower has a loan of Rs. 10 Lakhs but takes out only Rs. 5 Lakhs, they will pay the interest only on the withdrawn amount till the repayment of the dues. This helps in reducing the overall interest cost.
  • No requirement for Collateral/Security: Availing a flexi personal loan or personal loan overdraft facility does not require the pledging of any collateral or security.

Eligibility Criteria

  • A flexi loan is available for both salaried employees and self-employed individuals. However, the eligibility criteria for availing this loan can vary across lenders and will depend upon the applicant’s profile. Lenders may consider several factors while assessing the eligibility for a flexi personal loan including the borrower’s age, income, occupation/business continuity and the existing financial obligations while sanctioning the credit limit for flexi loan or personal overdraft facility.
  • The credit score of a loan applicant also affects their eligibility while availing a flexi personal loan. A high credit score, preferably 750 and above, enhances the scope of loan approval for a borrower. It may also improve their chances of getting a flexi loan at lower interest rates. Therefore, loan applicants should always keep an eye on their credit scores before they apply for a loan and look to improve them if they reach below a particular threshold level. Loan applicants who are not aware of their credit scores can check it at Paisabazaar and receive monthly updates on their scores along with credit advisory services at zero cost. Those having low or NIL credit scores can also avail Step Up Credit Card co-branded with SBM Bank India Ltd. to build or improve their credit score.

Documents Required for a Flexi Personal Loan

The documents required for availing a flexi personal loan and a term loan are similar in most cases. Some of the main documents needed to apply for a flexi loan are as follows:

  • Identity Proof: PAN Card/Voter ID Card/Aadhaar Card/Passport/Driving License
  • Address Proof: Aadhaar Card/Utility Bill (up to 3 months old)/Lease or Property Purchase Agreement/Driving License/Bank Account Statement/Passport
  • Income Proof:
    • Salaried Individuals - Salary Slips/Bank Account Statement/Form 16
    • Self-employed Individuals - Bank Account Statement/P&L Statement and Balance Sheet/ITR of previous years
  • Business Proof (for self-employed individuals & professionals): Certificate of Practice/MOA & AOA/GST Registration and Filing Documents/Partnership Deed/Shop Act License

Note: The above list of documents is indicative and lenders may ask for additional documents depending on the individual applicant’s profile.

Difference between Term Loan and Flexi Loan

Basis Term Loan Flexi Personal Loan
Nature The lender disburses the approved loan amount to the borrower’s account. The lender sanctions a credit limit to the borrowers, from which they can withdraw as per their requirements.
Interest Calculation The lender charges interest on the outstanding loan amount. The lender charges interest on the amount used/withdrawn out of the total credit limit sanctioned by the lender, until the repayment of the drawn amount.
Prepayment Charges Most of the lenders levy a prepayment fee on prepaying personal loans availed at fixed rates. No prepayment fee is charged on the prepayment of personal loans availed at floating rates. No prepayment fee is charged.
Repayment schedule The repayments are usually made in the form of EMIs, consisting of both principal and interest components. Borrowers are free to repay the principal component as per their financial position, till the tenure of the overdraft facility.  However, the lenders may require the borrowers to service their interest component at predetermined intervals.

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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Apply Now

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All Your Needs

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FAQs

No. Both of the terms, ‘flexi personal loan’ and a ‘personal line of credit,’ usually mean the same and offer the same set of features. In most cases, it’s just a difference in name from one provider to another. However, in some rare cases, a personal line of credit might have an interest-free period which is not usually applicable in case of a flexi personal loan.

Flexi loans come with flexible end-usage and can be availed to meet any personal financial need.

Flexi personal loans are usually offered at lower or sometimes comparative rates similar to regular personal loans. However, the applicable rate of interest depends on multiple factors including your credit score, repayment capacity, type of employment and existing financial liabilities.

A number of lenders calculate interest rate on a flexi loan on a daily basis, as per the amount utilized by the end of the day. However, this may differ from one lender to another. Moreover, the interest is only calculated on the amount utilised and not on the entire credit limit sanctioned. This is what sets a flexi loan apart from a regular personal loan. This is how it helps you save on the total interest payout.

You can repay your flexi loan in easy EMIs. In case of flexi loans, you just have to repay the amount that you utilise and not the entire loan amount sanctioned by the lender. In some cases, lenders also offer you an option to pay only interest as your instalment during the initial years of your loan tenure. You can also choose to prepay your flexi loan before the end of its complete tenure without any prepayment penalties.

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What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
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