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What is the interest rate for Flexi loan?

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What is the interest rate for Flexi loan?

The lender sets an interest rate of 10.25\% and a processing fee of 2\% of the loan amount.

How is Flexi EMI calculated?

Emi calculate formula = P x r x (1+r)n / (1+r) n-1

  1. Business loan amount = ₹ 2 lakh.
  2. Interest rate = 20\%
  3. Tenure = 3 years.
  4. As per the formula interest rate per month will be 20/12= 1.66\%
  5. Total tenure in months = 3×12 = 36 months.

What is Flexi credit limit?

A Flexi Loan is similar to an Overdraft facility provided by banks. As a borrower, you can withdraw the loan amount you require from the credit limit pre-approved by the bank. You can make a prepayment as per your convenience.

What is the rate of interest for a personal loan from Bajaj Finserv?

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What Is the Rate of Interest For A Personal Loan From Bajaj Finserv? Bajaj Finserv offers personal loans at interest rates starting 13\%. Additional charges such as processing fees, EMI bounce charges, penal interest and secure fees (only for online) may also be charged at the time of application. Read more about Personal Loan Interest Rates.

What is the EMI under Bajaj Finserv flexi loan?

Under Bajaj Finserv Flexi Loan product, you need to pay interest-only EMI of only Rs 12,500 per month. Clearly, a much lower amount.  However, you must understand, under the first method (a regular personal loan), your outstanding principal amount is going down every month.

What is a flexi hybrid personal loan?

A Flexi Hybrid Personal Loan only requires you to pay an interest rate on the loan amount that has been withdrawn. You get access to incredible flexibility and affordability as you don’t spend excess amounts paying interest rates on the money that has not been utilized. What is Personal Loan?

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What is a flexi loan in India?

Flexi Loans are the new way of borrowing funds in India, where you get access to a pre-approved loan limit based on your credit rating. Borrow funds whenever you need them and prepay when you have additional funds in hand. Also, pay interest only on the amount you utilize out of the borrowed amount, and get the option to pay just the interest

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