What are the key benefits of SBI Credit Cards?

SBI Credit Cards offer a wide range of benefits, including rewards, cashback, lounge access, discounts, and insurance coverage.

How can I apply for an SBI Credit Card?

You can apply for an SBI Credit Card online through the Paisabazaar platform, where you can compare card options and check for pre-approved offers.

What factors should I consider when choosing an SBI Credit Card?

Consider your spending habits, lifestyle, and financial goals to select a card that best suits your needs, such as travel, shopping, or rewards.

How can I manage my SBI Credit Card efficiently?

SBI Card offers a user-friendly mobile app and online banking services to help you manage your card, check statements, make payments, and access additional features.

What precautions should I take to avoid accumulating credit card debt?

Responsible credit card usage includes paying bills on time, managing credit limits wisely, and avoiding unnecessary spending to prevent debt accumulation.

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Trusted by 1L+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

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Retirement

1st Crore

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1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Dream Home

Dream Wedding

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Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

Dream Wedding

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Retirement

1st Crore

Bajaj Finserv Flexi Loan: Lower EMIs by Up to 45%

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Bajaj Finserv Flexi Loan: Lower EMIs by Up to 45%

Mar 22, 2024

15 Mins

Bajaj Finserv offers an overdraft loan called Flexi Loan, which allows borrowers to lower their EMIs by up to 45%. With Bajaj Finance's overdraft loan, borrowers can enjoy instant approval and a quick disbursal process through an online application. The loan allows individuals to borrow funds whenever they need them, with no charges for prepayment and interest only being levied on the amount utilized at the end of each day.

Bajaj Finance Overdraft Loan provides borrowers with the opportunity to secure a loan amount of up to Rs. 25 lakhs. The loan amount is sanctioned based on the customer's profile, and the interest rate starts from 13% per annum. The rate is charged daily on the amount utilized. The tenure for repayment can extend up to 60 months, and borrowers can expect a quick approval turnaround time of within 5 minutes. Disbursal of the loan amount takes place within 24 hours, without the need for collateral.

In terms of financial requirements, there are no prepayment charges, while the processing fee can be up to 4%. The age criteria for eligibility range from 21 to 67 years.

For those interested in the Bajaj Overdraft Loan, certain eligibility criteria must be met. The applicant should be an Indian citizen, employed by a multinational company (MNC), public or private limited company. The minimum age for application is 21 years, and the maximum age at the time of loan maturity should not exceed 67 years. Additionally, a Credit Score of 750 or above is required for eligibility.

To apply for a Bajaj Finserv OD loan, applicants need to provide certain documents like Aadhaar Card, PAN Card, Driving License, Voter ID, or Passport for KYC. Additionally, bank account statements for the past 6 months, Form 16 or latest salary slips, and an Employee ID card are also necessary.

When comparing the Bajaj Overdraft Loan and Bajaj Term Loan, the primary difference lies in the amount sanctioned. Under the term loan, the entire loan amount is disbursed in one go, and the borrower pays interest on the full amount. The EMI includes both principal and interest. On the other hand, with the Bajaj Finance overdraft facility, borrowers are assigned a sanctioned amount, but can choose to borrow and pay interest only on the utilized funds. Principal repayment can be made at the end of the loan tenure.

Applying for a Bajaj Overdraft Loan is a simple process. Individuals need to fill in their personal, financial, and employment details, select the loan amount and tenure, and submit the required documents for verification. Approval of the loan is followed by the direct credit of the loan amount into the borrower's bank account within 30 minutes.

In terms of financial requirements, there are no prepayment charges, while the processing fee can be up to 4%. The age criteria for eligibility range from 21 to 67 years.