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Pre-loan Eligibility checker
Last updated on: July 22, 2025
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Read BioFlexi Personal Loans by Bajaj Finance and Tata Capital offer innovative loan structures allowing borrowers flexibility in usage and repayment. Ideal for variable expenses like education, weddings, or medical needs, these loans enable customers to withdraw funds as required within an approved limit and pay interest only on the amount utilized.
A Flexi Loan is a type of loan which allows you to borrow a portion of amount from the full sanctioned loan amount. You can repay the portion of the loan availed along with its interest while the rest of the sanctioned loan amount remains unaffected. Since there is flexibility in repaying the principal amount at your convenience, it is termed as Flexi Loan
Flexi Loans are incredibly beneficial for people who are looking to avail personal loan with a relaxed repayment schedule.
| Criteria | Salaried | Self-Employed |
|---|---|---|
| Age | 21 – 60 years | 22 – 55 years |
| Monthly Income | ₹15,000 (net salary) | ₹25,000 |
| CIBIL Score | Above 750 | Above 750 |
| Employment Stability | Minimum 1 year in current company | Minimum 2 years in current business |
| Minimum Loan Amount | ₹50,000 | ₹50,000 |
| Maximum Loan Amount | ₹25 Lakhs | ₹30 Lakhs |
| Features | Bajaj Finance Flexi Loan | Tata Capital Flexi Loan |
|---|---|---|
| Loan Amount | Up to ₹25 Lakhs | Up to ₹25 Lakhs |
| Interest Rate | Competitive, varies based on eligibility | Competitive, varies based on eligibility |
| Tenure | Up to 60 months | Up to 60 months |
| Interest Payment | Pay interest only on withdrawn amount | Pay interest-only EMIs in the initial period |
| Prepayment Options | Flexible, with part-prepayment options | Flexible repayment terms with interest-only EMI option |
| Documentation | Minimal, quick approval | Minimal, simplified for quick processing |
| Processing Time | Fast loan approval and disbursal | Quick loan processing and fast disbursal |
| Ideal For | Those needing flexibility with prepayments and adjusting EMIs | Borrowers preferring low initial payments with interest-only EMIs |
| Additional Benefits | Dynamic EMI adjustments, part-prepayment with reduced EMI options | Minimal documentation, interest-only EMI to lower monthly outflow |
| Category | Documents Required |
|---|---|
| Identity Proof | - Aadhar Card - Passport - Voter ID - Driver’s License |
| Address Proof | - Aadhar Card - Passport - Utility Bill (electricity, water) - Rent Agreement (if applicable) |
| Income Proof | - Latest Salary Slip (if salaried) - Income Tax Return (ITR) - Bank Statements (3–6 months) - Form 16 - Profit & Loss Statement (if self-employed) |
| Employment Details | - Employer’s Certificate - Employee ID (if salaried) |
| Bank Account Details | - Bank Account Statements (3–6 months) - Cancelled Cheque |
| Property Documents | - Property Ownership Documents (if applying for loan against property) - Sale Agreement - Title Deed |
| Other Supporting Documents | - Application Form - Passport-sized Photographs - Signature Verification |
1. How can I use a flexi loan?
You can withdraw a partial amount you would need for fulfilling your needs from the sanctioned amount.
2. Are the interest rates for a flexi loan lower than the normal personal loan?
Flexi Loans in general are offered at a lower interest rate than the normal personal loan. However, the interest rates depend on other factors such as credit score, repayment ability, and existing personal loans.
3. Is there a restriction on number of times that I Can withdraw on flexi loans?
No, there is no limit to the number of withdrawals that you can make while availing a flexi loan. However, you can borrow only within the limit of the total loan amount approved
4. Does every bank offer Flexi Loans?
No, not every bank or NBFCs offer flexi personal loans. You will have to check the quotes to know more. Moreover, the eligibility criterion for each entity varies.
5. How is Interest Rates calculated on a Flexi Loan?
The interest is calculated only on the amount borrowed not the whole sanctioned amount. Some lenders charge interest on a daily basis and some follow a different pattern. We would advise you to check with the respective lender about the interest calculation
Written by Prem Anand, a content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors.
Prem Anand is a seasoned content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors. He has a strong command of industry-specific language and compliance regulations. He specializes in writing insightful blog posts, detailed articles, and content that educates and engages the Indian audience.
The content is prepared by thoroughly researching multiple trustworthy sources such as official websites, financial portals, customer reviews, policy documents and IRDAI guidelines. The goal is to bring accurate and reader-friendly insights.
This content is created to help readers make informed decisions. It aims to simplify complex insurance and finance topics so that you can understand your options clearly and take the right steps with confidence. Every article is written keeping transparency, clarity, and trust in mind.
Based on Google's Helpful Content System, this article emphasizes user value, transparency, and accuracy. It incorporates principles of E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness).
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