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Unsecured Dropline Overdraft

Features & Benefits

  • Loan amount ranging from ₹1 Lakh up to ₹50 Lakhs
  • Collateral-free loan
  • Limit based on banking conduct
  • Tenure of up to 36 months

Commercials

Loan Processing Charges Up to 1.25% + applicable taxes
Part Pre-payment ChargesNA
Penal Interest2.00% p.a. additional on the existing rate of interest
Repayment Instruction/Instrument Return Charges₹500/- per instance + taxes applicable.
AMC at the end of the year₹2000/- per year
Eligibility Documentation

Eligibility

Business vintage

  • Minimum 3 years in current profession

Age

  • Minimum 21 years at the time of loan application
  • Maximum 65 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 12 months
  • PAN Card/Form 60
  • Business Proof
  • Last 12 months’ GST returns

Frequently Asked Questions



  • Minimum - ₹1 lakhLakh under Income program
  • Minimum - ₹1 lakhLakh under Banking Surrogate
  • Maximum - ₹50 lakhLakhs for both programs

We offer the Quick Overdraft facility to resident individuals (with business registration), proprietorship firms, partnership firms, LLP, pvt. ltd. companies, and unlisted public companies.

The limit will be reduced on monthly basis.

Tenure can be a maximum of 36 months.

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