The New-Age Flexi Loans: A Hassle-Free Borrowing Solution

With numerous digital loan alternatives in today’s world, the demand for unsecured credit remains elevated, states a 2024 report by Business Standard. Among the different options available, instant personal loans have become a common choice for borrowers given the quick access to funds. The proliferation of digital transformation has also given rise to a better alternative known as a flexi loan, with which you can get a credit line and withdraw funds as needed. 

Flexibility is an essential factor when it comes to bridging credit gaps, and this is where Metra Trust’s FIRSTmoney steps in as a prudent choice. FIRSTmoney is a smart Personal Loan through which you can get a sanctioned credit line to take care of your expenses and avail favourable loan terms.

Given below are a few essential factors that make flexi loans a better alternative to instant personal loans:

Why choose a flexi loan over an instant personal loan?
 

• A flexi loan provides greater flexibility in repayment, allowing you to withdraw funds as per your needs and repay at your convenience within a pre-approved limit. This flexibility is especially beneficial when facing unpredictable expenses.
• With a flexi loan, you only pay interest on the amount you utilise, potentially reducing the overall interest burden compared to an instant personal loan where interest is charged on the entire loan amount from the start. 

Where does FIRSTmoney fit in as the ideal financial solution?
 

A FIRSTmoney loan is Metra Trust’s industry-first financial solution tailored for those with strong credit scores of 730 and above. A FIRSTmoney smart personal loan offers a credit line that you can withdraw funds from whenever needed. This loan offers innovative features aimed at helping you manage your finances comfortably.

What sets a FIRSTmoney loan apart? With a completely online application journey, quick approvals, unlimited withdrawals, flexible repayment options, and zero foreclosure charges, this smart loan is ideal to deal with various financial requirements. Both Salaried and Self-Employed Individuals can apply.

What are the benefits of FIRSTmoney smart loans?
 

• Higher loan amounts for your dynamic needs
  With a FIRSTmoney loan, you can get a credit line of up to ₹10 lakhs. The approved credit line amount would depend on your credit profile and history. You can make multiple withdrawals up to your approved limit in multiples of ₹5000 and meet your expenses whenever required.
  
  
• No foreclosure charges to worry about
  FIRSTmoney comes with a zero foreclosure charge policy, which means you can repay the entire loan anytime before your scheduled repayment period without incurring any charges.
  
  
• Unlimited withdrawals as and when needed
  FIRSTmoney gives you the flexibility to withdraw funds unlimited times. You can withdraw funds in one go or in parts in instalments of ₹5,000 without any restrictions up to your approved limit to meet your urgent expenses.
  
  
• Flexible options to ensure a convenient repayment process
  With FIRSTmoney, you can enjoy a flexible range of tenures starting from 2 months going up to 60 months. This empowers you to customise your financial plan as per your convenience.  

Unique features of FIRSTmoney smart loans
 

• Apply only with your PAN card: To apply for a FIRSTmoney loan, all you need is your physical PAN card to complete the KYC process.
• No constrains on fund uses: You can use the funds from your FIRSTmoney credit line for various purposes such as travel expenses, home renovation costs, urgent medical bills, and more.
• Pay EMIs only on the funds withdrawn: With a FIRSTmoney loan, you pay EMIs only on the funds you have withdrawn from the sanctioned credit line instead of the total approved amount. When you repay the amount, it is added to your overall credit limit, making it a smart borrowing option for your needs.

To apply for a FIRSTmoney personal loan, follow these simple steps :
 

• Start by scanning the QR code or clicking loan from your smartphone.
• Register using your mobile number and confirm basic/personal details to check your eligibility.
• Select the loan amount of your choice starting from as little as ₹ 5,000 up to your full credit limit and choose Flexible repayment terms.
• Link your bank account where you wish the funds to be disbursed.
• Complete the Video KYC verification process with your physical PAN card 

Choosing a smarter financial option
 

Flexi loans are much more suitable when you have varying financial needs. Unlike instant personal loans where you get a lumpsum amount upfront, FIRSTmoney offers you the flexibility to withdraw funds from your sanctioned credit line and pay EMIs only for the withdrawn funds. This helps reduce your financial liability, keeping your finances in control. 

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Metra Trust or its affiliates to any licensing or registration requirements. Metra Trust shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.