Bajaj Finserv offers overdraft loan under the name of Flexi Loan. You can lower your EMIs up to 45% with Bajaj Finance overdraft loan. Get instant approval and quick disbursal of the loan amount with quick online process. You can borrow funds whenever you need with Bajaj overdraft loan. No charges are levied on prepayment and the interest is levied only on the amount utilized at the end of the day.
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Following is the table of complete details of Bajaj Finserv Overdraft loan:
|Loan amount||Up to Rs. 25 Lakhs. The limit is sanctioned based on customer;s profile|
|Rate of interest||13% p.a. onwards. Charged day-wise on the amount utilized|
|Tenure||Up to 60 months|
|Approval TAT||Within 5 minutes|
|Disbursal TAT||Within 24 hours|
|Processing fee||Up to 4%|
|Age||21 to 67 years|
Additional Info: Check Details of Bajaj EMI Card & its Benefits.
Following is the detailed eligibility criteria for Bajaj OD loan:
You require the following documents to apply for Bajaj Finserv OD loan:
The difference between Bajaj term loan and Flexi personal loan is the amount sanctioned. Under term loan, the entire sanctioned loan amount is disbursed in one go and the borrower has to pay interest on the same. The EMI on term loan includes the principal and interest amount. However, in case of a Bajaj Finance overdraft facility, the sanctioned amount is assigned to the borrower’s account and they can borrow the same as per their requirements. Borrowers can choose to pay only the amount of interest as their Bajaj Finance OD limit EMI. The borrower can repay the principal amount at the end of the tenure of the loan.
Also Check: Bajaj Finserv CIBIL Score
Following are the steps to apply for Bajaj OD loan online:
Now get Navi personal loan of Rs. 10,000 to Rs. 20 Lakhs at lowest interest rate starting from just 9.9% per annum. Repay in easy instalments of 3 to 72 months. The processing fee ranges from 2.5% to 6% of the sanctioned limit + GST.
Bajaj Overdraft Flexi Loan is similar to an overdraft facility. It allows you to borrow money up to a certain limit approved by the lender. Bajaj overdraft interest rate is charged only on the amount used in a day and not on the amount sanctioned. The sanctioned loan amount can be used for any purpose. You can prepay the loan as per your convenience. However, the interest amount needs to be paid as per the agreed conditions.
The rate of interest for Bajaj Finance OD is charged day-wise only on the amount utilized. The interest rate starts from 13% p.a.
You can use Bajaj Finance overdraft loan calculator to calculate the EMI and interest rate on OD.
Additional Reading: CIBIL Score Calculation