Pay only interest in the initial tenure | Up to Rs. 50 lakhs | Tenure of up to 96 months.
A Flexi Hybrid Loan is a variant of our business loan that works exactly like the Flexi Term Loan, with one key difference in how you repay. For the initial period of the loan, your EMI consists of only the applicable interest. For the subsequent period, your EMI consists of both the interest and principal components.
Like all our flexi variants, you get an approved loan limit. You can withdraw funds from it whenever you need them, and prepay whenever you have surplus cash. Interest is charged only on the outstanding principal.
The lower EMI in the initial period keeps your cash flow free while your business invests, expands or waits for new orders to start paying back.
All you need to know about our Flexi Hybrid Loan
** Terms & conditions apply
Anyone can apply for our Flexi Hybrid 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 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 Hybrid Loan. |
| 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 |
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| Switch Fees * |
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A Flexi Hybrid Loan is an unsecured business loan that works like our Flexi Term Loan, but for the initial period your EMI consists of only the applicable interest. For the subsequent period, the EMI consists of both interest and principal.
Both let you withdraw funds and prepay without part-prepayment charges. The only difference is in the EMI: a Flexi Hybrid Loan has interest-only EMIs in the initial period, whereas a Flexi Term Loan has EMIs with both principal and interest from the start.
During the initial period, your EMI includes only the applicable interest on the outstanding principal. Principal repayment begins in the subsequent period, when your EMI includes both principal and interest.
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.
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 Hybrid 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