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Navigant Finance > Services > Loan & Finance > Over Draft Limit

Flexi Loan (OD Limit)

Flexi Personal Loan: Experience unparalleled flexibility with our variant of personal loans. Gain access to a sanctioned loan limit, allowing you to borrow funds as needed without the hassle of multiple applications.

Overdraft Limit: Unlock financial freedom with our variant of personal loans. Enjoy the flexibility to utilize funds whenever required, tapping into your sanctioned loan limit without the need for repeated applications.

Benefits of Flexi Loan

  1. Flexible Fund Utilization: Flexi Loans offer the flexibility to utilize funds as per your needs, whether it’s for emergencies, purchases, or investments.
  2. Interest Savings: With Flexi Loans, interest is charged only on the amount utilized, not the entire sanctioned limit. This can result in significant interest savings compared to traditional loans.
  3. Multiple Withdrawals: Borrowers can make multiple withdrawals from the sanctioned limit without the need for reapplying, providing quick access to funds whenever required.
  4. Customized Repayment: Enjoy the convenience of customizing repayment schedules based on your cash flow. You can choose to repay the borrowed amount in full or make partial payments as per your financial situation.
  5. Reduced Documentation: Since Flexi Loans operate within a pre-approved limit, there’s typically no need for frequent documentation or application processes each time you need funds.
  6. Enhanced Financial Planning: Flexi Loans empower borrowers to better manage their finances by providing access to funds as and when needed, thereby enabling effective financial planning and management.

Flexi Loan FAQ’s

A Flexi Loan is a type of loan facility that offers borrowers the flexibility to withdraw funds as needed, up to a pre-approved limit, without the need for multiple loan applications.

With a Flexi Loan, borrowers are sanctioned a pre-approved loan limit. They can withdraw funds from this limit as required and repay the borrowed amount along with applicable interest. Interest is charged only on the amount utilized, not the entire sanctioned limit.

Some benefits of Flexi Loans include flexible fund utilization, interest savings, multiple withdrawals, customized repayment options, reduced documentation requirements, and enhanced financial planning capabilities.

Borrowers can access funds from their Flexi Loan limit through various channels, such as online banking, mobile apps, or by visiting the nearest branch of the lending institution.

The minimum and maximum withdrawal limits may vary depending on the lender’s policies and the borrower’s creditworthiness. It’s advisable to check with the lender for specific details.

While Flexi Loans offer flexibility and convenience, borrowers should be aware of any additional fees or charges such as processing fees, prepayment penalties, or annual maintenance fees that may apply.

Yes, borrowers can typically repay the borrowed amount early with Flexi Loans. However, it’s essential to check with the lender regarding any prepayment penalties or charges that may apply.

Collateral requirements may vary depending on the lender and the borrower’s credit profile. Some lenders may offer collateral-free Flexi Loans, while others may require security based on the loan amount and repayment terms.

Borrowers can apply for a Flexi Loan online through the lender’s website or mobile app, or by visiting the nearest branch office. The application process typically involves submitting relevant documents and completing the necessary paperwork.