Flexible Loan

What is a Flexible Loan?

A Flexible Loan (sometimes called a flexi loan) permits you to increase or decrease the amount borrowed, or to vary the repayments. In some cases they may allow you to miss the occasional payment, as set out in the Credit Agreement.


Q: What is assessed when applying for a flexible loan?

A: Like most other loans, your credit history plays a big part in deciding whether or not you may be eligible for a flexible loan, but depending on which lender you approach you may find they have their own additional criteria such as how long you’ve been a customer.

Q: How long does it take for the money to come through?

A: These days if you apply online, the money could be in your account the same day, subject to approval. Applying over the phone or in person in-branch may take longer and waiting times may change depending on the lender.

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