11/6/24, 10:29 PM How is Flexi Hybrid Loan better than a term loan – Bajaj Finserv

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What makes Flexi Hybrid Loan a better option APPLY ONLINE

With our Flexi Hybrid Loan, pay lower instalments with interest-only EMIs.

 77658 | 5 min read 01 Jun 2024

When you take a term loan, you borrow an amount for a set period of time, with a fixed repayment
schedule. On approval of your application, the lender will transfer the entire loan amount to your bank
account. Here, you will have to pay the interest on the full amount. Your EMI consists partly of the loan
principal and partly of the interest amount.

While your EMI remains the same, the split between interest and principal changes over the course of the
repayment schedule. In the initial period, the interest component is higher than the principal and it
reduces over the tenure.

This is the most basic form of a loan that you can get.

If you are looking for a loan wherein you can withdraw from your sanctioned loan amount as many times
as you want and prepay whenever you want, as many times as you’d like, you can choose our Flexi Hybrid
Loan.

Here are many more reasons why our Flexi Hybrid Loan is better than a term loan:

Use only what you need

With a Flexi Hybrid Loan, you are approved for a defined loan amount. For example, Rs. 5 lakh.

You can withdraw from this approved loan amount whatever sum you may need. For example, on a given
day, you withdraw Rs. 2 lakh and choose to pay this back over two years.

Rs. 3 lakh continues to stay pre-approved for you and you have the freedom to withdraw Rs. 3 lakh or less
whenever you need to.

Pay interest only on what you’ve withdrawn

In a Flexi Hybrid Loan, the interest is charged only on the amount you have withdrawn from your pre-
approved loan amount. For example, if you withdrew Rs. 2 lakh, you will be charged interest only on that
amount.

Compared to this, in a term loan, you would have had to pay the interest on the entire amount that you
would have borrowed. For example, Rs. 5 lakh for two years.

Withdraw as many times as you want, prepay as many times as you’d like

With our Flexi Hybrid Loan, you have the flexibility to withdraw from your sanctioned loan amount as
many times as you’d like over the tenure of the loan. For example, after withdrawing Rs. 2 lakh initially,
you may withdraw another Rs. 1 lakh three months later.

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11/6/24, 10:29 PM How is Flexi Hybrid Loan better than a term loan – Bajaj Finserv

Additionally, you can choose to pay back a part of what you’ve borrowed. For example, you borrowed Rs. 3
lakh. (Rs.
Loans  2 Alllakh initially
on EMI + Rs. 1Mall
 Bajaj lakhthree months
Cards later).
 Investments  Insurance  Do not Call

You can pay back Rs. 50,000 six months later, another Rs. 2 lakh next month itself, and the rest, at the
Payments  Offers  Services  About Bajaj Finserv  Download the app

end of two years. This is just one illustration. You can enjoy the flexibility of many such permutations and
combinations as per your preference.

Apply

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errors or delays in updating the information. The material contained in this site, and on associated web
pages, is for reference and general information purpose and the details mentioned in the respective
product/service document shall prevail in case of any inconsistency. Subscribers and users should
seek professional advice before acting on the basis of the information contained herein. Please take
an informed decision with respect to any product or service after going through the relevant
product/service document and applicable terms and conditions.

*Terms and conditions apply

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11/6/24, 10:29 PM How is Flexi Hybrid Loan better than a term loan – Bajaj Finserv

All you need to know about our Flexi Term Loan

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 9020

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01:23 All you need to know about our Flexi Hybrid Loan

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