Short answer: Both turn a personal loan into a drawable limit. Kotak’s overdraft starts at 13.50% with interest-only payments in year one, but needs a high salary (₹75,000 to ₹1 lakh, or ₹50,000 with a Kotak salary account). Bajaj Flexi starts at 10% and accepts lower incomes and self-employed borrowers.

Last verified: 12 October 2026 from each company’s official website and, where marked, its Google Play listing. Rates and fees change; the lender’s Key Fact Statement (KFS) and loan agreement decide your actual terms. FundsTiger does not rank lenders.

Kotak Personal Loan Overdraft vs Bajaj Finance Flexi Loan at a glance

Kotak Personal Loan OverdraftBajaj Finance Flexi Loan
TypePrivate sector bankRBI-registered NBFC (Upper layer)
ProductPersonal loan overdraft (Easy Credit Line)Flexi Dropline and Flexi Hybrid personal loans
LenderKotak Mahindra BankBajaj Finance
Limit₹1 lakh to ₹50 lakh₹40,000 to ₹55 lakh
Interest rateFrom 13.50% a year, fixed10% to 30.5% a year
FeesProcessing up to 5% + taxesUp to 4.13% including taxes
How you draw moneyWithdraw online any number of times; money in about 2 hoursWithdraw from a sanctioned limit as needed
RepaymentInterest only in the first yearHybrid: interest-only EMIs for up to 36 months; Dropline: limit reduces
Validity1 to 6 years12 to 108 months
Who can applyAge 21 to 58; CIBIL 730+; net salary ₹50,000 (Kotak salary account) or ₹75,000 to ₹1 lakhSalaried or self-employed; CIBIL 650+; income from ₹25,001 by city
Prepayment4.5% + taxes within 12-month lock-in; nil afterNo part-prepayment charge on Flexi loans
Also worth knowingLarge limits; High income barInterest only on what you withdraw; Long tenures

What it costs to use ₹50,000 for 3 months

We assumed a ₹2 lakh limit, ₹50,000 drawn for 3 months, interest on the amount used, and the first-year or per-draw fees (with GST). For Stashfin we left out its 30 interest-free days. EMI-based lines charge interest on a reducing balance, so the real interest can be a little lower.

ProviderScenarioRate a yearInterestFeesTotal cost
Kotak Personal Loan OverdraftStarting rate, max fee on ₹2 lakh limit13.5%₹1,688₹11,800₹13,488
Bajaj Finance Flexi LoanLowest rate, max fee on ₹2 lakh limit10%₹1,250₹8,260₹9,510
Bajaj Finance Flexi LoanHighest rate30.5%₹3,812₹8,260₹12,072

Key differences

Which should you choose?

Kotak Personal Loan Overdraft may suit you if you earn well, bank with Kotak, and want a large line.

Bajaj Finance Flexi Loan may suit you if you earn less, are self-employed, or want to prepay freely.

Whichever you pick, compare the APR in the KFS you are actually offered, not the advertised starting rate.

Before you apply

Want to see offers from several RBI-regulated lenders in one place?

Frequently asked questions

What is a Flexi loan?

A personal loan with a sanctioned limit. You withdraw as needed and pay interest only on what you have withdrawn.

Is interest-only good?

It keeps payments low at first, but the principal still has to be repaid later.

Are these lenders RBI-regulated?

The loans described here are given by RBI-registered NBFCs or banks named in the table. Check the lender named in your loan agreement on RBI’s digital lending app list.

Where do these figures come from?

From each company’s official website and, where noted, its Google Play listing, checked on 12 October 2026. Where a company’s own pages disagree, we show both figures.

Sources

Read more: All personal credit lines compared · All loan app reviews · Lender directory

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Disclosure: FundsTiger (Gatimaan Finance Advisors Pvt. Ltd.) is a loan marketplace and lending service provider for RBI-regulated lenders. Aparampaar Finance Pvt. Ltd. (Omozing), one of those lenders, is a related party of FundsTiger. This article is general information, not financial advice. Read your loan agreement and KFS before you decide.