Bajaj Finance Overdraft Personal loan – Interest rates 2024, emi eligibility

108039 Views PLOC

Get hassle free approval of overdraft Personal Loans up to 25 lakh, With Bajaj Finance Personal Loans, check benefits of overdraft loan over the regular personal loan.

Overdraft Personal Loan- It works like a overdraft account. Customer has the freedom to part prepay as well as withdraw within the Line assigned as per convenience.

Please find below the brief synopsis of our product Special features

FLEXI OD SALARIED LOANS

Net salary required 40k
Higher loan amount 25 lakh
Maximum saving by paying Interest only on utilized amount
1^st pre payment after 36 hours of disbursement
Unlimited transaction of pre payment
Minimum pre payment can be done with Rs 100 only
Flexibility to transact (prepay & draw down) in your loan a/c as per your cash requirement
First ever online access of loan

SALARIED VALUE PLUS LOAN

Net salary required 40k
Higher loan amount 25 lakh
1^st partial payment after 1^st emi
Minimum partial payment Emi*3 & Six times in a year
First ever online access of loan
Free Emi card

PLOC Features

Fixed credit line for a year (operates like OD/CC limit) – No Drop-line.
Renewal options after every year for same / enhanced amount.
Option to convert outstanding into a normal term loan at the end of PLOC period.
No limit on number of part payments. No charges for Part prepayments.
No charges for withdrawal.
No Collateral / Security required.

Term Loan Vs PLOC?

Parameter	Term loan	PLOC
Loan amount	1000000	1000000
ROI	16%	16%
Tenor	60 months	12 months
Monthly cash flow	EMI of 24318	Interest of 12333
Yearly cash flow	24318 X 12 = 291816	12333 X 12 = 159996
Part payments	200000	200000
EMI post part payment	19454	10667
Amount available for withdraw	Nil	200000
Part prepayment frequency	6 time / year	No limit

PLOC Features

Term Loan Vs PLOC?

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