Withdraw, repay and pay interest only on what you use | Up to Rs. 50 lakhs | Tenure of up to 96 months.
A Flexi Term Loan (also called Flexi Dropline) is a variant of our business loan that works like a credit line. Instead of receiving one fixed amount, you get an approved loan limit. You can withdraw money from this limit as many times as you need during the tenure, and repay it whenever your cash flow allows.
Your interest is calculated only on the outstanding principal, not on the full sanctioned limit. Your EMI includes both the principal and the adjusted interest.
It is ideal for businesses with uneven cash flow, seasonal demand, or frequent short-term investments in inventory, raw materials and growth projects.
All you need to know about our Flexi Term Loan
** Terms & conditions apply
Anyone can apply for our Flexi Term Loan if they meet the five basic criteria mentioned below. If you meet all the eligibility criteria, you will need a set of documents to complete your application process.
Eligibility Criteria
Documents Required
* You should be 70 years or younger at the end of the loan tenure.
Our representative will guide you on the next steps. The loan amount will be transferred to your bank account upon verification of your documents.
| Type Of Fee | Applicable Charges |
|---|---|
| Rate Of Interest (ROI) | 9.75% - 30% p.a. |
| Processing Fees | Up to 3.54% of the loan amount (inclusive of applicable taxes). |
| Bounce Charges | In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied. |
| Document Processing Charges | Up to Rs. 2,360/- (inclusive of applicable taxes). |
| Flexi Fee |
Flexi Term Loan (Flexi Dropline) – Up to Rs. 999/- (inclusive of applicable taxes). Flexi Variant (As Applicable Below) - A fee will be deducted upfront from the loan amount
* Loan Amount includes approved loan amount, insurance premium, VAS charges, and documentation charges. |
| Penal Interest | Any delay in payment of monthly installment shall attract penal interest at the rate of 3.50% per month on the monthly installment, from the date of default until the receipt of monthly installment. |
| Pre-Payment Charges |
Full Pre-Payment Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment. Part Pre-Payment Not Applicable for Flexi Term Loan (Flexi Dropline). |
| Stamp Duty | Payable as per state laws and deducted upfront from the loan amount. |
| Mandate Rejection Charges | Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered. |
| Broken Period Interest/Pre-EMI Interest |
Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios: Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged: Broken period interest is added to the first installment. Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged: In this scenario, interest is charged only for the actual number of days since the loan was disbursed. |
| Annual Maintenance Charges | Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges. |
| Switch Fees * | Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges. |
A Flexi Term Loan is an unsecured business loan with a pre-approved limit. You can withdraw funds from the limit and prepay the loan as often as you like during the tenure, and you pay interest only on the outstanding principal.
In a regular Term Loan, you receive a fixed amount and repay it in equated monthly installments. A fee applies for part-payment and foreclosure.
In a Flexi Term Loan, you can draw down additional funds and make part-prepayments without any part-prepayment charge. Interest is calculated only on the outstanding principal.
Sign in to our customer portal – My Account. From there you can draw down additional funds from your available limit or repay a part of your loan at any time.
No. Your interest is automatically adjusted and charged only on the outstanding principal. Your EMI includes both the principal and the adjusted interest.
Self-employed individuals and business entities such as proprietary concerns, partnership firms and private limited companies can apply, provided they meet the eligibility criteria:
Cashdash considers a CIBIL Score of 685 or above as a good credit score. A strong business turnover and having all your documents in check also reflect positively on your profile.
You can use it for planned and unplanned business expenses such as stocking up inventory, buying raw materials in bulk, paying salaries and wages, upgrading machinery or technology, renovating your workspace, or expanding your operations.
Click on the ‘Apply’ button on this page, enter your basic details and verify your profile with the OTP that you receive on your phone. Choose the Flexi Term Loan variant, select your amount and tenure, and complete your KYC.
A representative from Cashdash Technologies Private Limited. will contact you with the next steps. After approval of your loan application, you can get money in your account within 48 hours*.
** Terms & conditions apply