Benefits of Flexi-loans in Home Renovation
What are Flexiloan ?
Expert : Flexi-Loan is loan where the initial tenor, let’s say 25% of the tenor you just pay interest as EMI. Here the outflow of your income is slightly reduced.
And for remaining tenor you pay the principal and interest only on the amount utilized. There are multiple features. It’s called Hybrid Flexi Loans.
I am sure CompleteInteriorWorks you talk to many home owners and many of them have home loans. Not sure how many of them are aware of such Flexi loan options available in India now. Flexi Loans are the new way of borrowing funds. A pre-approved loan according to your credit rating is available, or say you have access to it. You borrow only whenever you need them. Pay back when you have additional funds in hand.
Benefit is you pay interest only on the amount you utilize out of the borrowed amount, and get the option to pay just the interest amount as your EMI for initial some part of your tenor.