- Open digital A/C
Explore 250+ banking
services on Axis Mobile App
Scan to DownloadDigital Banking Consent
- Current Account
- Pay
- Collect
- Trade
Services
Solution for Exporters
- Debt & Working Capital
24x7 Loans
For MSMEs with turnover up to ₹100Cr
- Treasury
- Transact Digitally
- Home
- Business Banking
- Small Business Banking
- Working capital loans
- Secured Dropline OD
Secured Dropline Overdraft - Basis Banking Conduct
Axis Bank's Secured Dropline OD is a loan facility designed to meet the financial needs of self-employed individuals and businesses. With flexible loan amounts and tenure, this facility provides the necessary funds to support various business requirements. With a straightforward documentation process and the acceptance of various collateral types, Secured Dropline OD offers a reliable and secure financing solution.
Features & Benefits
- Loan amount ranging from ₹10.01 Lakhs up to ₹500 Lakhs
- The limit is based on banking conduct
- Maximum tenure - 10 years
Fees & Charges
| Loan processing charges | Up to 1.25% + applicable taxes |
|---|---|
| Part pre-payment charges | NA |
| Foreclosure charges | 2.00% of sanction limit |
| Penal Interest | 1.00% p.a. additional on existing rate of interest |
| Repayment instructions / instrument return charges | ₹500/- per instance + applicable charges |
Eligibility
Business vintage
- Minimum 4 years in current profession
Business income
- Should not be loss-making in the last 1 year
Age
- Minimum 21 years at the time of loan application
- Maximum 70 years at the end of the loan tenure
Residential/office stability
- Borrower should own either an office or a residential property
- Residence stability should be of at least 12 months
- Office stability should be at least 24 months
Documentation
- KYC
- Duly filled in application form signed by the customer
- Relevant financial documents
- Bank account statement from the last 6 months
- PAN Card/Form 60
- Business Proof
- Last 12 months’ GST returns
- Property documents
Frequently Asked Questions
Secured Dropline OD facility is designed for self-employed segments like individuals, proprietorship firms, partnership firms, LLP, pvt. Ltd. companies and unlisted public companies.
We offer competitive interest rates for our facilities. The interest for each loan is determined based on assessment of your business profile, past track records, financial records, loan amount required and tenure of loan.
Interest is charged on the amount utilized and not on the entire sanctioned limit.
For secured DOD we accept residential / commercial and Industrial property.
