Since life is unpredictable, just like any other crisis financial emergencies can also knock on your door anytime. Not everyone is fitted with liquid cash to confront such situations. Similar to others, you may also be pushed to opt for credit to face the unintentional expenses. To make sure that the borrowers surpass the difficult circumstance seamlessly, banks extend the flexi personal loans.

These loans come along a pre-approved cash limit which allows a borrower to get instant financial assistance for unintentional expenditures.

Fundamentally, a flexi personal loan is a type of personal loan that comes in handy when you need instant funds. This is one of the latest sorts of loans wherein banks extend a pre-approved cash limit.

Once the loan gets approved, you can use the loan amount according to your needs. Moneylenders such as Bajaj Finserv, ICICI Bank extend flexi personal loans. Let’s know more of flexi personal loans.

Features of Flexi-Personal Loan

Following are the features that you can enjoy on availing the instant flexi personal loan: –

  • A flexi loan is quite similar to a bank overdraft facility. You can take out the loan amount you need from the credit limit which is pre-approved by your bank.
  • Whenever you feel that you can prepay the loan amount, you can do so as per your convenience.
  • The rate of interest on a flexi personal loan relies on the loan amount you utilize and for the tenor you use the loan.

How does a flexi personal loan function?

A flexi personal loan functions similarly to a bank overdraft facility where the moneylender pre-approves a loan amount and you can take out the required amount within the approved loan limit.

You can utilize the loan amount to meet any of your personal purposes and the interest is levied only on the amount you take in use.

You do not have to pay any interest on the remaining amount that you did not use. Any salaried or self-employed individual can opt for a flexi personal loan in times of emergencies, all you would need to avail the loan is meet the eligibility criteria as needed to avail any other loan. The eligibility criteria may differ from lender to lender.

Benefits of flexi personal loans

Following are the benefits that you can relish on availing of the Flexi personal loan: –

  • If you ever come across a financial crisis and seek personal loans online then a Flexi personal loan can stand out as an ideal alternative. The loan allows you to withdraw the amount whenever you are in need.
  • If you have extra funds then you can prepay the loan amount anytime according to your convenience. This will help you eliminate the stress of the principal amount.
  • As bank pre-approves the loan, you can take out the loan amount as per your need anytime.
  • One of the best benefits of a flexi personal loan is that you don’t need to give any documents since it is a pre-approved credit facility.
  • You have to pay the interest only on the amount that you take in use. For example, if you have applied for Rs. 5 lakhs loan and you take out only Rs. 1 lakh then the interest that you will have to pay is only on the amount that you withdraw which means your loan repayment will become simple and seamless.


If you are in search of an instant personal loan then there are many moneylenders that offer flexi personal loans online such as Bajaj Finserv, ICICI Bank, DBS, etc.

Additionally, there are many personal loan apps too such as Afinoz, MoneyTap, MoneyView, KreditBee, EarlySalary, etc. that you can opt for among many best personal loan apps in India in order to apply for flexi personal loans.