FlexSalary: A Credible Loan Lender to Get an Instant Personal Loan in India

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Business Wire IndiaFlexSalary is a loan product of Vivifi India Finance Private Limited, a non-banking finance company (NBFC) registered with the Reserve Bank of India (RBI). Through FlexSalary, Vivifi India wants to serve the needs of the deserving but underserved consumers. Anyone can apply for an instant personal loan in India, through FlexSalary by meeting their simple eligibility criteria. Apply for a loan from as low as INR 4,000 up to 2,00,000. FlexSalary has already crossed INR 220 crore in total disbursements till now.

FlexSalary offers an unsecured personal emergency line of credit loan to individuals who are facing a short-term cash crunch. It’s like a personal loan that can fund immediate needs so that individuals can come out of the crisis quickly. Apply for a personal loan online with FlexSalary and get cash within a few hours of approval. FlexSalary has unique features compared to other loan lending products. Through its near-instant loan disbursal, FlexSalary is fast-emerging as the most sought-after digital lending companies for salaried employees who have short-term instant cash needs.

Speaking of the distinguishing features, the one-time approval process is a huge benefit for individuals as they are not required to apply for a loan several times. Salaried individuals can apply for instant loan and get approval up to INR 2,00,000 for any length of duration. For instance, if an individual is approved for one lakh, he/she can use the money, repay it along with interest and then use the money again any number of times, just like a credit card.

Once an individual applies for a loan, the eligibility is assessed in real-time and a loan decision is provided instantly. FlexSalary is pleased to offer loans to salaried individuals on the same day of receiving the loan application. They quickly assess if a borrower is entitled to get their loan by evaluating the borrower’s creditworthiness. If the borrower who is a salaried individual meets their criteria, the personal loan is immediately approved and disbursed into their account on the same day.

Anil Pinapala, CEO, Vivifi India, said, FlexSalary has resonated well with salaried individuals facing an immediate cash need. The product was designed to be customer-centric, which has helped in anticipating the customers’ needs and delight them with better services.”

Many individuals who have a low CIBIL score apply for a personal loan with a bank and they face rejection many times. There are crores of people who are unable to get access to credit because of a number of reasons. Do not worry as FlexSalary comes to the rescue by providing instant credit to the underserved. They check the ability to repay a loan and other factors instead of the CIBIL score so that most Indians who were unable to get easy access to credit can now get money. You can apply for a loan in under 5 minutes by using FlexSalary instant personal loan app.

Access to credit for the underserved Indians is a problem now even after the advent of technology. There has been a rise in the usage of the internet, smartphones, and significant growth in digital payments through UPI. But there were limitations when it comes to access to credit. The founders’ Anil K Pinapala and Srinath Kompella aimed to bridge the gap by empowering non-prime borrowers with innovative loan products through their financial inclusion agenda.

Features of a FlexSalary Loan:

  • One-time Application: Borrowers can get an instant loan by just registering for once. Use the credit, repay, and use it again any number of times.
  • Loan tenure: FlexSalary is an open-ended line of credit, where a borrower will decide the loan tenure.
  • Same day Approval: FlexSalary quickly assesses the borrower’s eligibility to get a loan. If the borrower satisfies their simple criteria, the personal loan is approved immediately, and upon approval, the loan amount is transferred into the borrower’s account on the same day.
  • Repayments: Those who have borrowed money can repay the loan along with interest in flexible payments. As a borrower, you can continue paying the minimum amount every month. Once the borrower is financially healthy, he/she can make full payments.
  • Prepayment Penalty: If the borrower wants to repay the loan in full all at once, he/she can make the full payment and FlexSalary will not levy any charges on the borrower for full and final settlement, unlike other lenders who impose charges on basis of the outstanding amount.
So, with features like these, it is easy for borrowers to get money and they can even repay the loan conveniently without pushing themselves into a cycle of debt that they can’t come out of.

FlexPay: Credit on UPI

To make it even easier to avail credit, Vivifi India has launched FlexPay that offers credit on UPI. You can avail credit instantly that you can use for your daily needs. Using FlexPay, you can make day-to-day transactions at any merchant store where you can scan and pay. This credit-based ‘scan now & pay later’ feature targets Indians without credit cards.

Anil K Pinapala CEO, Vivifi India, said, “We firmly believe that our UPI infrastructure which enables ‘scan now, pay later’, will become the future for all types of credit.” FlexPay is targeted at 300 million Indians who don’t have access to a credit card. With FlexPay, borrowers can get credit, which they can use to make payments easily to friends, family members, and at merchant stores.

FlexPay is a feature in the FlexSalary app. Users who are approved for a FlexSalary loan can also use their approved funds to make payments.