Bajaj Finserv Flexi Loan offers an attractive overdraft loan option, significantly reducing EMIs by up to 45%. This loan, provided by Bajaj Finance, ensures swift approval and a speedy disbursal process via a straightforward online application. This facility allows borrowers to access funds as needed with no prepayment charges, and interest is charged only on the daily utilized amount.

The Bajaj Finance Overdraft Loan offers a loan amount of up to Rs. 25 lakhs, based on the borrower's profile, with interest rates starting from 13% annually, applied daily. The repayment tenure can extend to 60 months, and borrowers benefit from quick approval—typically within 5 minutes—along with 24-hour disbursal sans collateral.

No prepayment charges apply, although the processing fee may reach up to 4%. Eligibility criteria set the age range from 21 to 67 years.

To qualify for the Bajaj Overdraft Loan, applicants must be Indian citizens employed by an MNC, public, or private limited company. They should be at least 21, with a loan maturity age no greater than 67 years, and possess a Credit Score of 750 or above.

Applicants must provide documentation including Aadhaar Card, PAN Card, Driving License, Voter ID, or Passport for KYC. Additionally, past 6 months of bank statements, Form 16 or recent salary slips, and an Employee ID card are required.

Differences between the Bajaj Overdraft Loan and Bajaj Term Loan mainly revolve around disbursal. A term loan disburses the full amount initially, with interest charged on the whole sum, including both principal and interest as EMI. The Bajaj overdraft facility offers a sanctioned amount where interest is charged only on utilized funds, with principal repayment at tenure end.

Securing a Bajaj Overdraft Loan involves a straightforward procedure. Applicants fill out personal, financial, and employment information, select desired loan amount and tenure, and submit documents for verification. After approval, the loan is directly credited to the borrower's bank account within 30 minutes.