What is the benefit of Flexi loan?

admin

A full-flexi loan gives you complete flexibility. Your loan payments get paid automatically through a linked bank account, you can withdraw your money at any time, and you get the added benefit of a lower home loan interest if you save more money in the account to offset your principal amount.

>> Click to read more <<

Similarly one may ask, how does a flexi loan work?

Each Flexi Loan has a set credit limit but no fixed term or end date. You can withdraw from your Flexi account up to your credit limit and repay in your own time, provided you make the minimum monthly repayment. This makes the loan more flexible than loans with a fixed term.

Correspondingly, what are the 4 types of loans?

  • Personal Loans: Most banks offer personal loans to their customers and the money can be used for any expense like paying a bill or purchasing a new television. …
  • Credit Card Loans: …
  • Home Loans: …
  • Car Loans: …
  • Two-Wheeler Loans: …
  • Small Business Loans: …
  • Payday Loans: …
  • Cash Advances:

Herein, what is a flexi interest rate?

It is traditionally a combination of a fixed deposit and a recurring/savings account, ensuring customers get the benefit of high interest rates offered by Fixed Deposits plus liquidity offered by saving accounts. Other Flexi Fixed Deposit Schemes.

What is unproductive loan?

Financial Terms By: n. Nonproductive loan. A loan that increases spending power, but is used in business that does not directly increase the economy’s output, such as a leveraged buyout loan.

2 Related Question Answers Found

Which loan is best for home?

Top Home Loan Schemes & Offers

  • Kotak Mahindra Bank – Best for Low Interest Rate. …
  • SBI Bridge Home Loan – Best for Short-Term Requirements. …
  • ICICI Bank Extra Home Loans– Best for Long Term Requirements. …
  • Canara Bank Housing Loan – Best Interest Rate for Women. …
  • Axis Bank Home Loan – Best Interest Rate for Salaried Employees.

Which type of loan is best?

Best for lower interest rates

Secured personal loans often come with lower interest rates than unsecured personal loans. That’s because the lender may consider a secured loan to be less risky — there’s an asset backing up your loan.

Leave a Comment

Review for Loans

We are willing to show you that there is a number of products and services with their advantages and drawbacks. We want to teach you to compare the best offers you can really benefit from.

Useful Links

Our Policies

Disclaimer: This platform is a free online resource aimed at assisting people with making smart financial decisions and choosing the most appropriate solutions tailored to their finance-related needs. Review for Loans provides professional research, comparison, reviews and unbiased opinions on multiple financial topics. We strive to keep the information on the website up to date and accurate. Although the information we share is based on thorough research, it doesn’t constitute solely professional or legal advice, thus shouldn’t be treated as such.

To keep the website free and continue providing valuable content, we get compensation from the companies listed and/or featured on the site. The compensation rate may impact the way the offers appear on the site. Review for Loans doesn’t include all available offers and/or companies.

The authors’ and/or editorial opinions are solely their own and are not provided, endorsed, reviewed and/or approved by the offer issuers and/or companies we get compensation from. Our content may differ from the information you get from the financial institutions issuing offers. We present the products and services without warranties. When you choose to click on the offer, you agree to be directed to the issuer's site where you can and should review the terms of use.

© 2022 Review for Loans