Flexi Personal Loan

The need for cash can come unannounced, but it’s important to always stay prepared. Whether it’s a medical emergency or a last-minute trip, a flexi loan app has you covered. You can get a personal loan up to ₹500000 in 5 minutes on Zype.

Just complete a quick application in 5 minutes and get instant loan approval anytime, anywhere in only 60 seconds! With Zype, always have instant access to money and be prepared for all the possibilities of life.

What is a Flexi Loan?

A flexi loan is a credit line or overdraft facility in which you get approved for a personal loan once. You can then borrow the desired amount from the credit line and pay interest only on that amount. You can take multiple loans from the approved credit line, anytime, anywhere. You have to repay only the amount you borrow from the credit line according to your personal loan repayment plan. And as and when you complete your EMI payments, the credit line will keep replenishing.

On Zype, you can get a credit line up to ₹500000 starting at just 1.5% interest per month. Get approved for the credit line once and take unlimited loans from it, anytime you need!

Advantages of Flexi Loans

The benefits of taking flexi personal loans are beyond the fact that you can get instant access to cash. Here’s why you should choose an instant flexi loan app.

One Credit Line, Unlimited Loans

The specialty of a flexi personal loan is that you need to make the effort of applying for it only once. After you’re approved, you can take personal loans from it anytime you need. Need not worry about running out of money, because the credit line will keep replenishing as and when you pay your EMIs!

Pay Interest Only on the Utilized Amount

The interest rate is only applied to the amount you borrow from the credit line. This way, you won’t have to pay an overwhelming interest and additional charges on the money you borrow.

Always Have Access to Money

As long as you keep paying your EMIs on time, you will always have an available credit line to meet any of your planned or unplanned financial needs. With this backup, you will have peace of mind and be prepared for all the possibilities of life.

How Flexi Loans Work?

Flexi Loans is an overdraft or credit line facility that keeps replenishing as and when you repay your EMIs. You will be approved for a credit line from the lender once, and you can then keep borrowing money from it, whenever you need. You will have to pay interest only on the amount you borrow and only pay back that amount in the form of EMIs according to your repayment plan.

Tips for Managing a Flexi Loan

Understand the Terms of Borrowing: When you’re approved for a loan, make sure you go through all the terms and conditions of borrowing. Contact your lender if you have any questions.

Plan Your Repayments Before Taking a Loan: Using an Personal Loan EMI calculator to plan your repayments even before applying for the loan can help you create a better budget. This way, you won’t miss any EMIs.

Keep Track of the Borrowed Amount and Interest on the Loans: With Flexi loans, you get the flexibility of choosing the amount you want to borrow from your credit line. And since you’re charged interest only on the borrowed amount, it’s important to keep track of your loans to avoid confusion.

Make Sure You Don’t Miss Any EMI: Defaulting on your repayments can lead to a suspension of your credit line. Make sure you pay all your EMIs on time to have continued access to money.

Features and Benefits of Flexi Personal Loan

While a flexi personal loan is a good choice to finance any of your planned and unplanned financial requirements, Zype can make it a better experience for you! Here’s how:

Easy Application

You can get done with the entire loan application process in less than 5 minutes, without any document upload or paperwork. Just enter your basic details like name, email address and PAN and get instant approval!

Easy Application

Instant Approval and Disbursal

Unplanned expenses always mean an immediate need for cash, which Zype fulfills. After you have completed a quick application, you can get an approval within 60 seconds and receive the amount in your registered account in 24 hours. 

Approval and Disbursal

1-Click Loan Transfers

You will not have to wait 24 hours to receive the money every time. Once you’re approved, and have an active line, you can get cash from the credit line anytime you need in a single tap.

1 click Icon transfer

Affordable Interest on the Borrowed Amount

Zype’s personal loan interest rates are affordable starting at just 1.5% per month. Pay interest only on the amount you borrow from the credit line. 

Competitive interest rate

Flexible Repayment Options

Paying back the money on Zype is as convenient and flexible as borrowing it. You can borrow your desired loan amount from the credit line and repay the money in 3,6,9 or 12 EMIs.

No Collateral Required​

No Collateral

Zype personal loans are unsecured loans. This means you don’t have to provide any asset against the money you borrow.

Collateral free loans

Documents Required for a Flexi Personal Loan from Zype

Different lenders have different document requirements. But with Zype, you can get a loan without any document uploads or paperwork! You only need these to complete your application:

Proof of photo identity

Mandatory Documents

You will need your PAN and Aadhaar number to get an approved offer and to complete your KYC to activate your credit line. (Physical documents not required)


Proof of Photo Identity

Complete a real-time selfie verification to complete a KYC on Zype after you’re approved for a personal loan.


Proof of Income (Optional)

Want a higher credit limit? Just upload your bank statement for the last 4 months and get an increased credit line.

Eligibility Criteria for a Flexi Personal Loan

Meeting Zype’s eligibility criteria is simple! This is all you need:


18 years or above

Citizen of India

Indian with a valid PAN and Aadhaar card

Work experience
Work experience

Salaried individual

15000 Salary
Monthly Salary

Monthly income of at least ₹15,000

What is Flexi Loan Interest Rate?

A Flexi loan interest rate is applied only to the amount you borrow from the credit line. The interest rate can be different for different lenders. Zype offers loans starting at just 1.5% interest. And Zype’s terms of borrowing are crystal clear with no hidden charges. Given below are all the charges associated with Zype loan including the flexi loan interest rate:

Minimalist Table
Fees & Charges Amount Chargeable
Interest Rate Starting at 1.5% (monthly)
Loan Processing Charges Processing fees from 2% to 6% on every loan
Penalty on Overdue EMIs Penal interest and late fees will be charged to your total outstanding loan on a daily basis

Difference Between Flexi Loan and Term Loan

Minimalist Table
Flexi Loan Term Loan
Flexi loan is a credit line or overdraft facility in which your application gets approved once. You can then borrow the desired amount from the credit line. As and when you keep paying your EMIs, the credit line keeps replenishing. Term loan is a personal loan that has a set amount, interest rate and repayment tenure. Once you receive the loan amount, you have to pay it back with interest according to the repayment plan.
You don’t have to pay interest on the unutilized credit line. The additional charges associated with your loan are only applicable to the borrowed amount. You have to pay back the loan with the set interest rate charged.

How to Apply for a Flexi Personal Loan?

On Zype, you can get an instant flexi loan. Apply in these simple steps and get the cash you need now:

  1.  Download the Zype app from PlayStore/AppStore and create your account.

2. Enter your basic details like your name, mobile number and PAN number and complete your application in 5 minutes.

3. Get approved for a credit line based on your credit profile in only 60 seconds!

4. Complete a quick 3-step KYC with Aadhaar number and selfie verification to unlock your credit line.

5.  Select your desired loan amount and EMI option.

6. Transfer the cash you need directly to your account in a single tap and you will receive the amount in 24 hours.

Frequently Asked Questions

What Types of Loans Can Have a Flexi Option?

A flexi loan is a type of personal loan offered by lenders in the market. With Zype, you can get a flexi loan up to ₹500000 starting at 1.5% interest per month.

Can I Make Extra Payments on a Flexi Loan?

With Zype flexi loan, you can prepay, or part pay your loan whenever you want without incurring any additional charges.

Are there Any Prepayment Penalties on Flexi Loans?

The additional charges associated with prepaying your flexi loan depend on the lender. On Zype, you don’t have to pay any penalties or extra charges on any prepayment.

What Happens if I Exceed my Credit Limit on a Flexi Loan?

You cannot exceed your credit limit on a flexi loan as it’s a predetermined amount that keeps on replenishing as and when you repay your EMIs. However, if you miss your EMIs, your credit limit can get suspended.

How Does Interest Work in a Flexi Loan?

With a flexi loan, you have to pay interest only on the amount you borrow from the credit line. You don’t have to pay any additional charges on the unutilized amount.