NBFC Loan: What’s Unique at Flexpay

A Non-Banking Financial Company (NBFC) is a financial institution that offers banking services without holding a banking license. NBFC personal loan apps raise funds through bonds, debentures, or borrowing from banks, offering services like loans, advances, and securities acquisition. They play a vital role in extending credit to underserved populations. Regulated by financial authorities, NBFCs ensure financial stability and consumer protection. They complement traditional banks, providing additional avenues for financial services. Overall, NBFCs contribute to economic growth and development by facilitating credit access and financial inclusion.

How are NBFC loans better than Bank loans:

  • Lenient eligibility criteria: Instant personal loan NBFC typically offer more flexibility for loans compared to traditional banks. This allows you with lower credit scores or irregular income to qualify for loans.
  • Faster processing: NBFCs typically offer quicker loan processing and disbursement compared to traditional banks, reducing waiting times for borrowers.
  • Simplified documentation: NBFCs may require less paperwork, making the loan application process smoother and more convenient for borrowers.
  • Flexible repayment options: NBFC loan app may offer more customizable repayment terms. This allows the borrowers to choose plans that suit their financial situation and preferences.
  • Tailored loan products: NBFCs often provide specialized loan products designed to meet the specific needs of different borrower segments, offering greater variety and choice.
  • Accessibility: Instant personal loan from NBFCs may have a wider presence, including branches in remote or underserved areas where traditional banks may not operate. This makes loans more accessible to a broader population.

What is Flexpay?

It’s a line of credit that you can apply based on your income and credit health. This comes with relaxed eligibility criteria where anyone with a monthly income of Rs.4,000 or above can apply for it. It comes with flexible repayment options and easy renewal features. You can avail of this credit facility, using its NBFC loan app online in a simple application process. Followed by successful KYC, you get instant approval on this credit line.

Key Features:

  1. Credit Line Flexibility: Interest is charged only when you use the money, not on the lump-sum credit approved to you.
  2. No Collateral Required: No credit check or collateral is demanded; your income proof is sufficient for instant credit.
  3. Streamlined Application Process: Apply online through user-friendly digital platforms, eliminating extensive paperwork.
  4. Tailored Solutions: We offer diverse credit products, whether you need a short-term loan, purpose-specific funds, or substantial amounts for financial goals.
  5. Clear Communication: Transparent terms and conditions provide easy access to information, helping you make informed credit decisions.

What Makes it Unique?

  1. Inclusive Access: Our 100% online application process ensures accessibility to all individuals, considering factors beyond just credit scores for loan approval.
  2. Swift Processing: With a quick approval process, you can receive credit in your account within 1 day, meeting urgent monetary needs without collateral requirements.
  3. Credit Score Flexibility: We consider various factors for loan approval, offering chances for individuals with different credit scores, alongside other credit checks.
  4. Personalized Loan Solutions: Our loans are tailored to meet individual needs. They offer a range of credit products suited to diverse financial goals and circumstances.
  5. Comprehensive Approval Measures: Our approval process evaluates income, employment status, credit health, and history, ensuring accessibility even for those new to credit.
  6. Outstanding Customer Service: With over 6000+ successful loan distributions across India, our 24*7 customer support ensures a seamless experience and issue resolution.
  7. Simple Eligibility Criteria: We cater to salaried individuals with a minimum monthly income of Rs. 4,000, offering relaxed eligibility criteria to meet diverse financial needs.
  8. Flexible Repayment Options: Enjoy flexible repayment facilities with variable instalments and no mandatory fixed EMIs, allowing for easy repayment based on your income fluctuations.
  9. No Foreclosure Charges: Benefit from the freedom to prepay your loan partially or in full without incurring foreclosure fees, offering convenience and savings.
  10. Transparent Communication: We ensure transparent communication regarding terms, conditions, and repayment options, empowering you to make informed financial decisions.

Why FlexPay?

It is a loan offering from Vivifi India Finance Private Limited, a non-banking finance company (NBFC) registered with the Reserve Bank of India (RBI).

Since 2017, Vivifi India Finance Private Limited has been instrumental in helping Indians cover their cash crunches, using its product FlexPay.It is a line of credit that provides flexibility during disbursement and repayments keeping in mind the challenges faced by salaried professionals.

It offers a convenient digital experience offering instant credit ranging from Rs. 500 to Rs. 3,00,000 with flexible repayment terms. The paperless credit journey makes your loan approval much faster in an end-to-end encrypted digital environment.

This works as an ultimate credit option to meet your different, multiple and discrete monetary needs from making merchant payments to sending money in times of need to your loved ones.

Being a line of credit and an unsecured credit option sets it apart from any traditional loan. Here, interest accrues only on the amount utilized. It eliminates the burden of lump-sum interest payments irrelevant to usage. You can use this as a funding cushion. Utilize, repay and improve your credit score while eliminating any fund shortages.