Flexi Finance provides loans to any individual, who are aged between 18-68. Applicants must posses at least two valid IDs (SSS, TIN, Voter’s ID, Passport, Driver’s license). Applicant must also be employed at least for 3 months.
Also know, what happens if I can’t pay my loan?
When a loan becomes NPA? When dues are not paid for more than 90 days. After this, bank will have to issue you a ’60 day notice’ under SARFAESI Act. In this notice period, the loan defaulter can payback the dues and close the case.
Beside above, what is Flexi Loan?
A Flexi Loan is similar to an Overdraft facility provided by banks. As a borrower, you can withdraw the loan amount you require from the credit limit pre-approved by the bank. … You get the flexibility to pay the outstanding loan amount as and when you want to pay, but you need to pay the interest every month.
How much is the down payment in Flexi Finance?
Flexi Finance as one of the leader in sales financing offers fast and easy to avail of low-installment loans with a flexible downpayment amount as low as 10% of the selling price with the option of getting more than one item in a loan, and installment of up to 36 months.
How can I get a laptop loan?
Apply for Laptop Loan in India
Easy application process: Download the Credit Fair app. Fill in the application form and submit your KYC documents and bank statement. Submit complete application and get instant approval.
What happens if you don’t pay a loan back?
If you don’t pay back a personal loan then you will default on the loan. This means that the lender may sell your debt to a debt collector. … You’ll likely see a drop in your credit score, you’ll be contacted by debt collectors, and it could affect your ability to get loans and good interest rates for years to come.
What is flexi salary advance?
A flexi personal loan offers you a pre-approved cash limit, which can be withdrawn whenever you are in need of funds. … Further, repayments are flexible, given that you can make as many prepayments as you wish to during the loan repayment tenure.
Do flex loans check credit?
Good credit isn’t necessary for approval
Even if you have fair or bad credit, you can still get approved for a flex loan. Many lenders will look beyond your credit score when considering your application. Note that you may have to meet other requirements, such as showing a steady proof of income.
Can you go to jail for not paying online loan in the Philippines?
Will I go to jail if I have an unpaid loan? As explicitly stated in the 1987 Philippine Constitution under Section 20 of Article III, no one shall be imprisoned due to debt, so you don’t need to worry about debt collectors threatening you that they will send out the police to arrest you tomorrow.
Can you go to jail for not paying Flexi Finance?
You can’t be arrested for debt just because you’re behind on payments. No creditor of consumer debt — including credit cards, medical debt, a payday loan, mortgage or student loans — can force you to be arrested, jailed or put in any kind of court-ordered community service.
Is it good to take flexi loan?
In some cases, lenders also offer you an option to pay only interest as your instalment during the initial years of your loan tenure. You can also choose to prepay your flexi loan before the end of its complete tenure without any prepayment penalties. Q6.
How do I contact Flexi?
If you’re a Flexi customer needing help, please contact our customer support team at 1.800. 353.9443 or email [email protected].
What happens if you dont pay Flexi Finance?
What happens if I pay my installment past the due date? Under normal circumstances, there will be a corresponding penalty for each day of delay and the interest will continue to increase every day until you can settle your account.
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.