Bullet Flexi EMI Plan for Personal Loans
What is a Bullet Flexi EMI Plan ?
Bullet Flexi - Allows you to pay principal in parts along with EMIs that help you repay the personal loan faster. Bullet Flexi loans are ideal for people who receive periodic incentives and can manage periodic payments towards principal payments, thereby reducing EMI payments substantially. There are no prepayment charges and thus allows a very high degree of customization.
Is it suitable for you ?
Bullet loans are suitable for people who receive periodic incentives or payments such as dividends from their investments. By opting for a Bullet Flexi loan you can avail higher personal loan eligibility and can start paying regular EMIs, but you also have an opportunity to reduce your EMI and interest burden based on the incentive or periodic income you receive. This offers customized mechanism for personal loan repayment.
For example: Vibha, a sales executive with an IT company took a loan for her dream kitchen. She could pay regular EMIs and with her quarterly incentives, opted for a bullet Flexi loan. With the incentives, she paid the Principal in parts and reduced the interest and EMI burden substantially. As Vibha was not aware of the final incentive amount she would receive, bullet Flexi loan allowed her to decide the amount she wanted to pre pay based on the future incentives.
Use the Personal Loan EMI Calculator and check how much you'll have to repay.