Bajaj Flexi Loan

A flexible and affordable way to

manage your finances.
How it Works
1 Overdraft Limit
Your overdraft limit is determined based on an assessment of your monthly net salary. This
provides you with a flexible credit limit that you can access as needed to cover any short-
term financial gaps or unexpected expenses.

2 Virtual (EXPERIA) Account

Once your loan amount is credited to your salary account, a separate virtual account is
automatically created. This virtual account gives you a dedicated space to manage your
funds and transfer money as needed.

3 Transfer Funds
You have the freedom to easily transfer funds between your salary account and the virtual
account. This allows you to maintain control over your finances and allocate money towards
different expenses or savings goals as required.

4 Pay Interest
With the Bajaj Flexi Loan, you only pay interest on the amount you actually use from the
overdraft limit. This helps keep your costs low and ensures you only pay for what you need,
making it a more affordable solution compared to traditional loan options.
Key Benefits
1 Flexibility
With Bajaj Flexi Loan, you have the freedom to
make unlimited part payments and withdrawals
as per your needs. This allows you to manage
your finances with ease and control, without
being tied down to a rigid repayment schedule.
3 Convenience
The Bajaj Flexi Loan platform is designed to be
user-friendly and accessible. You can manage
your loan online 24/7, making adjustments and
transactions as and when required, without the
need for physical paperwork or visits to the
bank.
2 Control
Bajaj Flexi Loan puts you in the driver's seat
when it comes to your finances. You only pay
interest on the amount you actually use, which
means you can optimize your borrowing and
save on costs compared to traditional loans.
4 Cost Savings
Compared to credit cards, Bajaj Flexi Loan
offers a significantly lower interest rate, making
it a more affordable option for your borrowing
needs. This can lead to substantial cost savings
over the lifetime of the loan.
Flexible Repayment Options with Bajaj Flexi Loan

Transfer Funds Easily Unlimited Part Payments Withdraw Paid Principal

With Bajaj Flexi Loan, you can
conveniently transfer funds from your
virtual account to your regular bank
account whenever you need the money.
This provides maximum flexibility to
manage your finances.
You can make unlimited part
payments to your Bajaj Flexi Loan
account without any additional
charges. This allows you to pay off the
loan faster and reduce interest costs.
Unlike a traditional loan, Bajaj Flexi
Loan allows you to withdraw the
principal amount you have already
paid back, giving you the flexibility to
access your funds when needed.
 Post Disbursement process
CUSTOMER NEEDS TO
MEANWHILE, VIRTUAL
SANCTION AMOUNT LOGIN TO THE VIRTUAL
ACCOUNT WILL BE
WILL BE CREDITED TO ACCOUNT WITH THE
CREATED AND
SALARY ACCOUNT BELOW URL
ACTIVATED IN 3 HOURS
FROM BAJAJ END.
https://
www.bajajfinserv.in/
myaccountlogin/

POST LOGIN TO
VIRTUAL ACCOUNT, ENTER YOUR
SIMILARLY, U CAN
NOW U CAN TRANSFER REGISTERED MOBILE AS
WITHDRAW THE FUNDS
THE MONEY TO USER-ID & CLICK ON
FROM VIRTUAL
VIRTUAL ACCOUNT BY GENERATE OTP FOR
ACCOUNT TO UR
USING PART-PAYMENT PASSWORD
SALARY ACCOUNT BY
OPTION TO AVOID
USING DRAWDOWN
PAYING UNNECESSARY
OPTION
INTEREST
 Part Pre-Payment
■ A customer can part prepay any amount that the customer does not want to use
currently. In below pages we have mentioned the steps to part prepay the excess
funds.
 Withdrawal

■ A customer can withdraw the Amount from EXPERIA Portal to his Salary Account
registered with us.

■ Below are the steps need to be used.

 Calendar Month Interest Calculation (Example)
( Loan Amount )
Sanctioned Limit
15.0 lakhs

12.5 lakhs

10.0 lakhs 5 Lakhs

7.5 lakhs Interest due

12.5 lakhs Any
on 2nd
for transaction in
5.0 lakhs 10 days 7.5 lakhs 5 Lakhs this period
for goes into next
8 days month cycle
2.5 lakhs
2.5 lakhs for
12 days

0 ( Tenor )

( 1st Nov ) ( 10th Nov ) ( 18th Nov ) ( 30th Nov ) ( 2nd Dec )
 Monthly Interest Calculation
Amount used Rate of interest
Interest Number of days
funds used
365
(assumed as number of days in a year)

(Example) Per day Per Lakh – Rs. 40/- @ 14.5% per annum

Amount Number of days Rate Interest

12,50,000 10 14.5% 5000 (A)

7,50,000 8 14.5% 2400 (B)
2,50,000 12 14.5% 1200 (C)
Total =
8600
(A+B+C)

Interest paid on 2nd Dec = Rs 8600

 HOW THE TOTAL SANCTIONED LIMIT
RECOVERED IN 8 YEARS TENURE ?

Our overdraft facility provides you with a flexible and convenient way
to manage your finances.

It offers a line of credit that can be accessed when your account

balance falls below zero.

This guide will provide you with a detailed breakdown of the

overdraft limit's phases and how it works throughout your tenure
with us.
Phase 1: The Non-Principal Recovery Period
During the first 24 months of your overdraft facility, you'll enter the Non-Principal Recovery Period. This initial phase
offers you several key benefits:
Interest-Only Payments
You'll only be charged interest on
the amount you actually use from
the overdraft limit, rather than the
full approved amount. This helps
keep your costs low during this
initial period.
Virtual Account
Any repayments you make during
this phase get deposited into a
virtual account. This acts as a
separate account that you can freely
access and reuse as needed, without
any additional fees.
Unlimited Transfers
You have the flexibility to transfer
funds back and forth between your
virtual account and your primary
salary account at no extra charge.
This allows you to efficiently
manage your cash flow.
Phase 2: Principle Recovery Period
This phase spans from the third year to the eighth year of your overdraft
facility. During this period, we start recovering the principal amount of
your overdraft limit. Your sanctioned limit is divided into 72 monthly
installments, and we will recover a fixed amount from your virtual
account each month.

If your virtual account has a sufficient balance, the principle recovery will
be deducted from it. However, if the balance is insufficient, the remaining
principle will be deducted from your salary account along with the interest
due on the utilized amount. This ensures a steady repayment of the
overdraft facility.

Phase Duration Principal Recovery Interest

Phase 1 2 Years None Yes

Phase 2 6 Years Monthly Yes

Deduction
 Managing Your Overdraft
Limit
For example,
*Let's say your overdraft limit is Rs.12 lakhs.

*The monthly principal recovery would be Rs.16,666 (Rs. 12 lakhs

divided by 72 months).

*This amount will be deducted from your virtual account balance, or

your salary account if the virtual account doesn't have enough funds.

*By keeping the required monthly amount in your virtual account, you
can manage your overdraft and still access the funds you need.
 COMPARISON BETWEEN CREDIT CARDS, PERSONAL LOANS & APP LOANS WITH BAJAJ FLEXI LOAN

SNO CREDIT CARDS PERSONAL LOANS APP LOANS BAJAJ FLEXI LOANS
Rate of interest starts from 10.49% to 22%
1 Rate of interest – 48% INCL GST Rate of interest - 20% - 36% Rate of interest 13.75%
(*Conditions apply)
2 2% service charges applicable on every transaction Processing fee vary between 3999/- TO 1% processing fee - 2 - 3 % Processing Fee & other charges max 1.75% to 2%

Interest + GST for 1 lakh usage = 4000/- (Which is *No principle recovered for 1 st 24 months-pay only
3 No much flexibility in part payment option No much flexibiliy in part payment option
called minimum due) the interest to the used amount on monthly basis.

Maximum credit limit 4 to 5 times of the monthly *Maximum 16 times of the monthly net salary is
4 Approximate EMI for 1 Lakh for 60 months=2149/- Minimum locking period - 3 months
net salary funded as an overdraft limit
Only 20% of the credit limit will be allowed as a Minimum 12 months lock in period to pre close
5 Paid principal, u cannot reuse. Interest for 1 lakh/month= 1146/-
Cash withdrawal the loan
No Emi option for the used amount (very rarely Good to choose for short term commitments but Unlimited part payment option available with 0%
6 Converted as an EMI
they allow with high interest) very expensive charges
Pre closure penalty 0% - 5 % of the outstanding
In case of any EMI conversion, will end up in One day locking period to close or part pay the
7 principle + 18% GST depends on the loan amount Loan amount starts from 5k to 2 lakhs
paying additional GST charges on every EMI loan
& bank
45 days’ interest free grace period is only from the Part payment allowed leaving 100 Rs from the
8 No withdrawal option of the paid principle Lesser the loan amount, higher the interest rate.
billing cycle start date total funded amount 0% charges
Repaid principle withdrawal option is available at
CC is useful only for the people who repays the Useful only for the people who repays monthly
9 Very unprofessional loan collection team any given point of time without any
100% usage amount within the bill date basis till the end of the repayment period
documentation
Online access allowed to your loan account
10 Allowed to use only for shopping transaction No much online access to your loan account Reaching customer care is a big challenge
throughout the tenor with no additional charges

Max Repayment period option will 60 months. Maximum repayment period 84 months for all
11 Online access available High chances of dropping your cibil score.
Very rarely you get up to 72 months. customers

As your outflow is very less by paying only interest

Cibil score will drop very drastically on cash As your outflow is more on EMI, will reduce your
12 to the used amount, will increase your future loan
withdrawal future loan eligibility with other financier’s
eligibility with other financier’s
Loan Programs

1 Fresh Loan 2 Top Up & Parallel

New loan application. Increase existing loan amount.

3 Balance Transfer (BT) 4 Paperless BT

Designed for overleveraged customers –
Consolidate debt of other bank personal loans
Consolidate debt of other bank personal loans to OD
and credit cards
with its sanctioned limit for 8 years of tenure.
Eligibility Criteria
To be eligible for our loan products, the customer must meet the following criteria:

• Be a salaried employee working at a private limited, public limited, or listed LLP company
• Have a minimum net monthly salary of ₹40,000 for the Prime locations or Rs. 30,000 for the Growth locations
• Be between 25 and 59 years of age
• Require a loan amount between ₹1 lakh and ₹38 lakhs
• Seek a repayment tenure of 1 to 6 years for Personal Loan and Flexi Loan, or 1 to 8 years for Flexi Hybrid Loan
• Reside in one of our prime locations: Bangalore, Hyderabad, Chennai, Delhi, Mumbai, Kolkata, Pune, Ahmedabad,
Aurangabad, Chandigarh, Ludhiana, Nashik, or Mysore
Loan Documentation
• Provide a copy of your PAN Card
• Submit a copy of your Aadhar Card (front and back)
• Furnish a local address proof such as driving license, voter ID, Aadhar, passport, rental agreement, or utility bill
• Share your latest 3 months' payslips
• Include your latest 3 months' salary account bank statements
• Attach a passport-sized photo
Interest & Charges
Interest Rate Ranges between 13.75% and
14.5% per annum
Processing Fee Up to 1.2% of the sanctioned
(will be added along with the loan amount) amount

Annual Maintenance Charge Rs. 250 per lakh per year

Part Payment 0% charges

Stamp duty Based on location

FFR – (financial fitness report) Rs. 5999/-

(will be added along with loan amount )

THANK YOU