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Unsecured Overdraft Limit

The overdraft facility allows you to continue withdrawing from your savings or current account even after the balance has touched zero. availing the overdraft facility is a kind of loan, and hence you have to repay the overdrawn amount within a particular duration. Overdraft account holders are to pay interest on overdrawing from their account


Sole Proprietorship Firms, Partnership Firms, Private Limited Companies, Public Limited Companies can apply.

Manufacturers, Service, Traders, Wholesalers, Retailers, Online Sellers can apply.

Minimum 3 Years old business vintage required.

Latest 1 Year audited turnover required.

Individuals whose age limit is between 21 years to 60 years.

Documents Required


  • KYC Documents
  • Duly filled in & signed application form
  • Relevant financial documents
  • Bank account statement of last 6 months
  • PAN card/Form 60
  • Business Proof

Things to know regarding overdraft:

  • It should be treated as an emergency fund or a short term credit option.
  • Explore other options before you avail overdraft.
  • Read carefully the terms and conditions and check the fee levied.
  • Enquire about the unauthorized overdraft and its liabilities.
  • Inform your bank before exceeding your overdraft limit.

Common Questions

The financial health of an individual, enterprise or company determines the overdraft limit.
Generally, a borrower is allowed to use funds until the sanctioned limit. He/she is not permitted to cross the overdraft limit.
Increasing or decreasing of overdraft limit needs prior notice and would need to fill a request form addressing the lender.
The interest rate offered on overdraft facility varies from bank to bank and depends on your profile.

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