So, How does Personal Overdraft work?
Personal Overdraft is like a credit line that provides cash on the move. Pay interest only when you withdraw and be not bothered with interest cost when not using it. Our processes are transparent and the customer service team is highly responsive. You will have more comfort and lesser hassles right from the day of online application to different tranches drawn from your approved amount.
Why take Line of Credit / Personal Overdraft facility from LoanTap?
Instant approval & disbursal
Easy online process for loan sanction and fast disbursal within 24-36 hours
Flexible Repayment Option
Flexibility to switch to accelerated repayment option after 6 months of disbursal
Higher Loan Amount
Option to choose from amount ranging from INR 50,000 to INR 10,00,000 basis your requirement
Longer Loan tenure
Flexibility to choose longer loan tenure from 6 months to 60 months making EMIs more affordable
We collect only what is basic minimum for all our custom personal loan products
No hidden charges, No foreclosure charges
Basic Eligibility Criteria for availing Personal Overdraft with LoanTap
- Individuals with a minimum monthly income of INR 30,000
- Indian citizens/residents who are 21 years and above
Basic Documents required for availing Personal Overdraft with LoanTap
- PAN Card
- Salary Slips (Last 3 months)
- Salary Account Bank Statement (3/6 months)
- Address Proof
Personal Loan Product Suite
Flexible Repayment options
0 Usage, 0 Interest. You are required to pay only interest on the amount withdrawn from the sanctioned credit limit while the Principal amount can be repaid and withdrawn within the sanctioned tenure multiple times. Ideal when: The amount of expenses involved in an event are variable.