Personal Loan vs Flexi Loans

Personal Loan vs Flexi Loans

Whenever people have an financial commitment, people withdraw their money from their savings without realizing that it may leave them in a lurch when any financial adversity strikes at a later point. If you are thinking about redeeming from your investment, then think twice as it may affect your financial goals. With that being the case, the best option you can think of is getting personal Loans.

Personal Loan allows you to borrow the funds to meet your emergency expenses and you can repay them in easier equated monthly installments (EMI). It also ensures that your investments and savings are safe. Talking about personal loans, you might be aware of Flexi Loans. Flexi Loans come up with flexible repayment options and overdraft facilities.

Now you might want to know whether to apply for personal loan or flexi loan, given both have their own set of advantages. In this post, we will do a comparison of features and benefits of both personal and flexi loans based on which you can decide it for yourself.

Criteria Personal Loan Flexi Loan
Loan Amount Lender disburses the entire amount Lender fixes a credit limit and you can withdraw from it based on your requirement as and when needed.
Interest Rates Interest Rates are charged on the whole amount Interest rate is charged only on the amount taken
Prepayment You will have to prepayment charges if you make a part payment towards your loan You can make prepayment at minimal or zero charges
EMI EMI on a personal loan is generally higher as it is charged on the whole amount EMI is less as you are taking only a part of the loan
Control As the entire loan amount is credited to your account, you will not have enough control over your spending You have the option to withdraw as per your needs so you have better control over the funds.
Lenders All banks and NBFCs offer personal loan Not every bank or NBFC offer flexi loans. The options are limited.


Both Personal and Flexi loans have their own sets of advantages. If you are someone who wants to have better control over your spending, you can go for flexi loans.

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