About Overdraft Facility

An overdraft is a service that allows an account user to borrow up to a specific amount when the account balance hits zero. Because there are no monthly repayments required in the case of overdrafts, you can pay the amount in full or in part in lump amounts.

As you repay the loan, the amount owed lowers, and the interest falls. Once you’ve paid the entire repayment by depositing the funds into your account, you’ll be able to borrow the amount again up to the credit limit set by us. If your account has overdraft facilities, you will be able to conduct transactions even after your account balance falls to zero and avoid dishonor costs. Another benefit of overdraft facilities is that daily interest is charged only on the borrowed amount rather than the whole principle, as is the case with other forms of loans.

Borrowers are free to spend the money they borrow from the overdraft facility in any way they see fit.

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Overdraft Facility - Eligibility

Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a Overdraft Facility.


Maximum age of applicant at loan maturity: 60 years


Minimum Net Monthly Income: Rs 15,000

Credit Rating

Applicant should have the bank specified credit score.

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