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Design your EMI: The Flexibility You Need for Loan Repayments
In today's rapidly changing world, having financial flexibility is crucial. Being able to customize loan repayments to fit your needs can help alleviate financial stress by managing unforeseen expenses and aligning payments with income cycles. Recognising this need, Godrej Capital’s “Design your EMI" feature offers a revolutionary approach to loan repayment that puts the power in the hands of the borrower.
Design your EMI, commonly called the DEMI feature, empowers borrowers to customize their equated monthly instalments or EMIs based on their financial situation, offering a level of flexibility that traditional loan structures often lack.
Let's explore how DEMI works and why it's a game-changer for those seeking flexible financing options.
Benefits of Flexibility in Loan Repayment
Introducing flexibility in loan repayment has the potential to significantly impact borrowers in a positive way. Here’s how:
- Improved Financial Planning: By getting an option to design their EMIs with DEMI, borrowers can align their loan repayments with their cash flow, making it easier to manage other financial commitments.
- Reduced Stress: Financial uncertainties can cause stress. Having flexibility in paying EMIs can serve as a buffer, enabling borrowers to adapt their repayment schedules in response to emergencies or fluctuations in income.
- Cost Savings: By opting for smaller EMIs during lean months and higher EMIs during surplus months, borrowers can potentially save on interest costs over the loan tenure.
- Customized Repayment: Every borrower's financial situation is unique. Design your EMI offers the flexibility to the borrowers to customise their repayment schedules, making it easier to meet individual financial goals.
How does Design your EMI Work?
Godrej Capital's Design your EMI (DEMI) feature is designed to be user-friendly and accessible. Here's how it works:
Step 1: Loan Application - Borrowers apply for a certain type of loan from Godrej Capital, specifying their desired loan amount and loan tenure.
Step 2: EMI Design - Once the loan is approved, borrowers can use the ‘Design your EMI’ tool to customize their repayment schedule. They can choose to increase or decrease the EMI amount based on their financial capacity for a selected period.
Step 3: Approval - The customized EMI plan is submitted for approval. Once approved, the borrower's repayment schedule is updated accordingly.
Step 4: Repayment - Borrowers can make their customized EMI payments through various payment modes supported by Godrej Capital, ensuring a hassle-free repayment experience.
Products Eligible for Design your EMI
Godrej Capital's Design your EMI feature is available for a wide range of loan products, including:
- Home Loans: "Design your EMI" allows home loan borrowers to adjust their EMIs based on their income fluctuations or other financial needs.
- Loans for Businesses: Small businesses or MSME owners can benefit from the flexibility of customizing their business loan EMIs as per their cash flow requirements and projections.
Flexibility Feature in Godrej Capital Loans
Flexibility is a key feature of Godrej Capital's loan offerings. Whether you're looking for a Home Loan, Business Loan, Loan Against Property, Professional Loan or any other type of loan, Godrej Capital strives to provide flexible loan options to improve the convenience of a loan for individuals and businesses alike and alleviate the burden associated with loan repayments. Flexible loan offering caters to your specific needs and financial goals, ensuring a hassle-free borrowing experience.
Flexibility Feature in Secured Loans
Flexibility in secured loans can vary depending on the lender and the specific terms of the loan agreement. However, secured loans generally offer some degree of flexibility compared to other types of loans. Here’s how Godrej Capital offers flexibility in secured loan options:
Do you know? Godrej Capital also offers Home Loan for same-sex partners.
Click here to learn more.
Design your EMI in Home Loan:
Design your EMI in Home Loan offers different types of repayment flexibility. With DEMI, borrowers can:
- For ready-to-move-in properties, choose to pay interest-only for up to 12 months.
- For under-construction properties, choose to pay interest-only for up to 48 months.
- Ensure your selected interest payment amount is above a minimum threshold and equal to or less than the actual interest payment.
- Opt for flexibility in interest amount being repaid in select periods to suit your financial capacity. Example: You pay INR 9,999 for 6 months, and INR 12,999 for remaining months.
- Combine interest-only repayment option with parallel funding offers across leading developers.
- Use the amount saved during this period to cover rent or other essential expenses or for interior décor or other personal touches.
Do you know? Godrej Capital also offers Parallel Funding, a special flexibility feature to its Home Loan customers. With Parallel Funding, Godrej Capital Home Loan customers can reduce the burden of down payment while purchasing an under-construction property, by sharing the load of the upfront payment with the lender and dividing their payments in smaller affordable portions through the payment slabs outlined by the property developer.
Design your EMI in Loan Against Property:
Design your EMI (DEMI) in Loan Against Property offers flexibility in repayment, where borrowers can:
- Use DEMI to start off their repayment with smaller EMI amounts
- Choose to pay only the interest amount for a duration of up to three years or 36 months and make efficient utilisation of money
Udyog Loan Against Property by Godrej Capital
Design your EMI in Loan Against Property:
Godrej Capital's DEMI feature in the Udyog Loan Against Property product enables borrowers to strategically plan their finances, empowering them to optimize their business growth.
- Get the flexibility to repay your loan with Design your EMI.
- Choose to pay only interest for up to 12 months.
Did you know? Godrej Capital also offers Flexi Funds, an Overdraft like facility on Loan Against Property and Udyog Loan Against Property that allows you to withdraw and repay money based on your needs from the pre-approved sanctioned limit. It allows you to pay interest only on the amount utilised as opposed a regular term loan.
Flexibility in Unsecured Loans
Flexibility in unsecured loans typically refers to the terms and conditions that lenders offer to borrowers. This can include aspects such as the loan amount, repayment schedule, interest rates, and any additional fees or penalties. Here are a few features from Godrej Capital that ensure maximum flexibility in unsecured loans:
Business Loan by Godrej Capital
Design your EMI in Business Loan:
The DEMI feature in Godrej Capital's Business Loan allows borrowers to customize their EMI repayment plans and align the same with their businesses’ cash flow requirements.
- Avail flexibility in repayment with ‘Design your EMI’, which allows you to repay the loan as per your convenience, capability, and comfort.
- Pay only interest for a selected period or a year, that is up to 12 months.
Professional Loan by Godrej Capital
Design your EMI in Professional Loan:
Avail flexibility in repayment of loans through Godrej Capital’s Design your EMI in Professional Loan and utilise finances better:
- Repay your loan based on capability and comfort with ‘Design your EMI’.
- Pay only interest for a select quarter or a year.
Do you know? Godrej Capital also offer BizRewards, a unique program to recognize and reward timely repayment behaviour among borrowers. Read more on Earn Rewards on EMI Payments - Know All About BizRewards
The Design your EMI feature from Godrej Capital is revolutionizing the loan industry by providing borrowers with the flexibility and autonomy to tailor their repayment schedules. This innovative approach empowers borrowers to personalize their EMIs, enhancing financial management accessibility and reducing stress.
By facilitating a customized repayment experience, Godrej Capital is simplifying financial planning for individuals and businesses, enabling them to effortlessly reach their financial objectives.
Apply for a loan with Godrej Capital and experience the repayment flexibility.
Disclaimer: The contents of this article are for information purposes only & not a financial advisory. For more details, please refer to the product or service document and/ or connect with our customer representative prior to making any financial decision. The information is subject to update, completion, revision, and amendment and 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 Godrej Capital or its Affiliates to any requirements. Godrej Capital or its Affiliates shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
Financing through Godrej Finance/Godrej Housing Finance Limited. Product Terms & Conditions apply, for details visit www.godrejcapital.com
