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Aditya Birla Capital LimitedAditya Birla Capital Limited (“ABCL”) is a listed systemically important nondeposit taking Non-Banking Financial Company (NBFC) and the holding
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Flexi Personal Loan
A Flexi Personal Loan is a unique financial solution that gives you access to a pre-approved credit limit, allowing you to withdraw funds as needed. Unlike traditional personal loans, you pay interest only on the amount you use, not the entire sanctioned loan. This loan works like a revolving credit line, offering financial flexibility for salaried professionals, business owners, and freelancers with unpredictable expenses.
Whether you're managing medical emergencies, home renovations, business expansion, or travel expenses, a Flexi Loan helps you stay financially prepared without the burden of fixed EMIs.
Calculate Your Personal Loan EMI Premium
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Our Personal Finance Products
Find a wide range of solutions for all your financing needs.
Enjoy low personal loan interest rates for affordable repayments. Choose Aditya Birla Capital Personal Loans and instantly find your loan's expected EMI.
Check your Aditya Birla Capital Personal Loan eligibility and get a collateral-free financial solution.
Reasons To Get A Flexi Loan
From Aditya Birla Capital
Pay Interest Only on the Used Amount
Interest applies only to the withdrawn sum, reducing overall borrowing costs.
Flexible Repayment Options
Choose to pay just the interest initially and repay the principal later.
Zero Foreclosure Charges
Close your loan anytime without penalties.
Instant Access to Funds
Withdraw money instantly through an online portal or mobile app.
Minimal Documentation
No need for repeated approvals—access your funds with ease.
Flexi Personal Loan Eligibility
Before opting for a Flexi Loan, ensure you qualify by checking your eligibility here.
Eligibility Criteria for a Flexi Personal Loan
To qualify for a Flexi Personal Loan, applicants must meet the following criteria:
-
Age Requirement
Minimum Age: 21 years
Maximum Age: 60 years -
Income Criteria
Salaried: Minimum monthly salary of ₹35,000
Self-Employed: Minimum annual turnover of ₹5 lakh - Employment Type Salaried professionals, business owners, freelancers, and entrepreneurs with stable income.
- Credit Score Requirement A credit score of 750+ is recommended for higher loan limits and better interest rates.
Documents Required for a Flexi Personal Loan
-
For Salaried Individuals
Identity Proof: Aadhaar Card, PAN Card, Passport
Address Proof: Utility bill, Driving Licence, Voter ID
Income Proof: Salary slips (last 3 months), Bank statements (last 6 months) -
For Self-Employed Individuals
KYC Documents: Aadhaar Card, PAN Card, Passport
Income Proof: ITR (last 2 years), Business registration proof
Bank Statement: Last 6 months' statement for financial assessment
Revision of Reference Rates for determining Interest Rates on loans given
A high credit score signals reliability to lenders and can help you get lower personal loan interest rates.
High existing debt can lead to higher interest, as lenders see more risk in lending to heavily indebted borrowers.
Stable income and employment history make you eligible for personal loans with low interest rates, as lenders perceive lower risk.
Different banks and NBFCs have varying interest rate structures, so comparing offers helps identify the personal loan minimum interest rate available to you.
Larger loans or longer repayment tenures may attract slightly higher personal loan rates due to increased risk.
Customer Satisfaction Stories
Hear from our happy customers what they have to say about their experience with us
Mr. Hiralkumar Ashokbhai Patel
Aditya Birla Finance Customer
Mr. Pramod Kumar Saini
Aditya Birla Finance Customer
Mrs. Snehal Rajpure
Aditya Birla Finance Customer
Instant Personal Loan INSTANT PERSONAL LOAN SHORT TERM PERSONAL LOAN LONG TERM PERSONAL LOAN
FAQs on Flexi Loan
A Flexi loan is a credit option that allows you to meet financial obligations without the need to provide security or collateral. It comes without an end-use restriction, thus it can be used for a variety of purposes, making it easy to manage. Also, you can withdraw funds as needed and pay interest only on the utilised amount.
A Flexi loan is versatile and can cover various expenses like home renovations, marriage expenses, education fees, vacations, debt consolidation, purchasing electronics and appliances, medical bills, business investments, car repairs, and more.
To qualify for a Flexi loan, you need a consistent income, whether you're a salaried employee, self-employed, or a professional. Your eligibility depends on factors like employer, credit history, residential location, and other criteria as per the eligibility criteria mentioned.
No! There's no restriction on the number of withdrawals you can make, allowing you to access funds as and when required. However, it's crucial to ensure that your withdrawals remain within the pre-approved credit limit sanctioned by Aditya Birla Finance. This ensures responsible borrowing and prevents you from overextending your finances.
No. There is no difference between a 'Flexi loan' and a 'personal line of credit'. The terms are often used interchangeably, as they essentially refer to the same type of revolving credit facility. Both options provide a flexible line of credit, allowing borrowers to withdraw funds up to a pre-approved limit and repay them as needed. The primary distinction between the two terms lies in their branding and usage, with "Flexi loan" being more commonly used by Aditya Birla Finance and "personal line of credit" being a general term used by various financial institutions.
In order to apply for a Flexi loan, make sure you have the following documents ready:
Identity proof: PAN Card / Voter ID Card / Aadhaar Card / Passport / Driving Licence
Address proof: Aadhaar Card / Utility Bill (up to 3 months old) / Lease or Property Purchase Agreement / Driving Licence / Bank Account Statement / Passport
Income proof: Salaried Individuals – Salary Slips / Bank Account Statement / Form 16. Self-employed Individuals – Bank Account Statement / P&L Statement and Balance Sheet / ITR of previous years
Business Proof (for self-employed individuals and professionals): Certificate of Practice / MOA & AOA / GST Registration and Filing Documents / Partnership Deed / Shop Act Licence
A Flexi loan provides numerous benefits, including:
• Financial Flexibility: Access to funds when you need them most, whether it's for debt consolidation, medical expenses, education, or pursuing lifestyle aspirations.
• Flexible Repayment Options: Choose a repayment plan that suits your financial situation and needs with repayment tenure options ranging up to 7 years.
• Varied Credit Line Options: Access to a range of credit line options, including Personal Loans (up to 7 years), Business Loans (up to 4 years), and Short Term Unsecured Loans (up to 5 years), to suit your specific needs.
• Multiple Withdrawals: Enjoy the freedom to withdraw funds as per your evolving requirements without the hassle of repeated loan applications.
• Predictable Monthly Payments: Fixed interest rates and predictable monthly payments can help you plan your budget and finances accordingly. Pay interest only on the utilised amount and pay the principal amount at your convenience.
• No Partial Repayment Charges: Make partial repayments without incurring any additional charges, providing you with the flexibility to manage your finances as desired.
• Streamlined Process: Experience a simplified application and documentation process for a hassle-free experience.
The interest rate for a Flexi loan depends on several factors, including your credit score, repayment capacity, type of employment, and existing financial liabilities. However, in general, Flexi loans are offered at competitive interest rates that are comparable to, or sometimes even lower than, regular personal loans.
Unlike traditional personal loans, where interest is charged on the entire loan amount from the date of disbursement, Flexi loans employ a day-based interest calculation method. This means interest is accrued only on the utilised portion of the credit limit, calculated daily.
To better understand the interest calculation process, consider this example:
Let's assume you have a Flexi loan with a sanctioned credit limit of ₹2,00,000. The interest rate is 12% p.a., and interest is calculated daily. You withdraw ₹50,000 from your Flexi loan account on Day 1 and repay it on Day 15.
In this case, the daily interest would be calculated as follows:
Daily Interest Rate = Interest Rate / (Days in Year X 100)
Daily Interest = Outstanding Balance X Daily Interest Rate
On Day 1, the daily interest would be:
Daily Interest Rate = 12 / (365 X 100) = 0.000328
Daily Interest = ₹50,000 X 0.000328 = ₹16.4
Since you repaid the entire amount on Day 15, you would only be charged interest for the 15 days you utilised the funds. The total interest paid for these 15 days would be:
Total Interest = Daily Interest X Number of Days
Total Interest = ₹16.4 X 15 = ₹246
This demonstrates the advantage of Flexi loans in terms of interest calculation. You only pay interest on the amount you utilise and for the duration you use it, leading to lower overall interest payments compared to traditional personal loans.
"Term Loans" and "Flexi Loans" are two different types of loans, each with its unique structure and flexibility in repayment. The other differences are highlighted below:
Basis - Nature:
(Term Loan) Disbursement of the approved loan amount
(Flexi Loan) Sanctioned credit limit with flexible withdrawals
Basis - Interest Calculation:
(Term Loan) Interest on the outstanding loan amount
(Flexi Loan) Interest on the utilised/withdrawn amount
Basis - Prepayment Charges:
(Term Loan) Prepayment fees may apply for fixed-rate loans
(Flexi Loan) No prepayment fees
Basis - Repayment Schedule:
(Term Loan) Fixed EMIs (Principal + Interest)
(Flexi Loan) Flexible principal repayments with fixed interest payments at predetermined intervals
You have the flexibility to repay your Flexi loan through convenient EMIs. With Flexi loans, you are only required to repay the amount you use, not the total loan amount sanctioned. Additionally, you have the choice to prepay your Flexi loan at any point before the full tenure concludes, and this can be done without incurring any prepayment penalties.
Failure to repay your Flexi Loan may result in the imposition of late payment penalty charges in the subsequent month's EMI. Additionally, late repayments can have a negative impact on your credit score.
Yes, you can get a Flexi loan with a low credit score, as we consider factors beyond just your credit profile. As long as you provide the necessary documents and meet our eligibility criteria, even individuals new to credit can access our loans.
Yes! You can re-apply for a Flexi Personal Loan within 3 months of your last application. However, the approval of the same will depend on our approval.
Your application may not be approved for multiple reasons, such as a duplicate profile or low credit score. If you believe there is an error, please contact us at [contact information] and we will address and rectify the issue.
Home Loan
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Up to 90% property cost loans -
Flexible 30-year repayment tenures
Loan Against Property
- High LTV ratio for loans
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ABC Of Personal Loans
Call 1800 270 7000 OR write to us at care.finance@adityabirlacapital.com.
For more details, to know your personal loan eligibility, access the product brochure or to set a meeting with our relationship manager.
The information presented on this page is intended solely for general informational purposes and does not constitute financial, investment, or professional advice. This content has not been authored by, nor does it represent an official communication from, Aditya Birla Capital Digital Limited. It is compiled from publicly available secondary sources, which may be subject to change without prior notice. Readers are strongly advised to conduct their own independent research and seek guidance from licensed financial advisors before making any investment decisions. All investments carry inherent risks, including the potential loss of principal. Past performance is not indicative of future results.