Personal Overdraft Loan

Why pay installment for the money lying in your bank account?

We offer Overdraft limit to salaried employees, with on the go cash withdrawal facility. Interest is charged on the cash disbursed only.

This won't impact your CIBIL score

But, why should I take an Overdraft facility?


Overdraft facility is like your all-weather friend. It provides credit on the move and doesn't trouble you with interest cost when you do not need it.

So you use it during those tough moments or to celebrate the occasion, as it happens in your life.

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Why Personal Overdraft from us?

Unique Product

This is first such offering for salaried employees in India

Expense Management

It gives you complete control on your day to day cash management

Flexibility

Unrestricted repayment and draw down option

Turnaround Time

Disbursal or cash transfer to your account within 24 hours

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So Simple

Three easy steps to disbursal
1

Online sanction

Fill your information online, and upload or mail basic docs as per your convenience.
2

Record your preferred time for Representative Visit

Download documents as per checklist, sign and handover to our representative
3

Seek Disbursal

Once the document reaches our office, post verification we will activate disbursal

Product Suite

EMI Free Loan EMI Free Loan
Personal Overdraft Personal Overdraft
Personal Loan Personal Loan
Credit Card Takeover Credit Card Takeover
Advance Salary Advance Salary
Rental Deposit Rental Deposit
Wedding Loan Wedding Loan
Holiday Loan Holiday Loan
Premium Bike Loan Premium Bike Loan
Being Human ECycle Being Human ECycle

Frequently Asked Questions

What is the minimum and maximum tenure for an Overdraft Facility?
The minimum tenure for OD Facility is 12 months and the maximum tenure is 60 months. We offer OD Facility with flexible tenure of up to 60 months (i.e. tenure from a minimum of 12 months onwards with additional block of 6 months. You can choose a tenure ranging from 12, 18, 24, 30, 36, 42, 48, 54 or 60 months).
What happens if a customer misses the payment on the due date?
The customer needs to pay the Interest on the due date. Failure to service interest timely will also impact customer in following manner;
  • Credit rating (reporting to Credit Bureau - CIBIL)
  • This will have an impact on other credit facilities availed of from NBFC /Banks.
  • Bank / NBFC may initiate recovery proceedings to recover the dues apart from the late payment charges
Can I make a partial prepayment towards my Personal Overdraft?
Yes, this is dynamic balance facility. Interest charges are applied on cash disbursal basis only, which can be re-paid on any subsequent day (as per RBI working calendar)
How is the Interest calculated?
The Applicant would be charged interest on daily basis for the cash withdrawn from the OD Limit at the rate mentioned in the facility agreement. Interest will accrue on a daily basis and will need to be paid on dates set out in the agreement.