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- Power OD
Power OD
(Turnover up to ₹250 crores)
Provide a boost of liquidity to your business through easy to use quick overdraft facilities
Apply Now Track StatusPower OD
Grant your business access to a hassle-free and simplified source of funds with the PowerOD (Overdraft) programme. A feature applicable to various business units, including MSME units engaged in manufacturing, trade and service activities. The Power OD program can be a great tool to address any short-term need for funds.
Note that this service is not extended to Arthiyas and commission agents.
Features & Benefits
- Turnover – up to ₹100 Cr.
- Limits – Up to ₹5 Cr. (ECLGS limits are over and above the limits specified).
- Product offerings - Overdraft facility, bank guarantee and letter of credit.
- Collateral - Residential, commercial and industrial property and Fixed Deposit accepted
Key Highlights
This is an Overdraft facility, which you can avail yourself of for working capital purposes. The Overdraft limit is not linked to your drawing power. Limits under this program cannot be clubbed with any other program of a commercial banking group.
Documents Required
- KYC of borrower , Associate / Group Concern / Corporate Guarantor (if applicable) :
- PAN
- GST registration certificate/ Certificate of incorporation
- Constitutional Documents like MOA , AOA, Partnership Deed etc. (as applicable)
- KYC of key individuals (Shareholders, Directors, Signatories, Partners etc.):
- PAN
- Any one address verification document like Aadhar/Voter Card/Passport/Driving License
- Complete Set of audited financials of the borrower / Corporate guarantor / Group Entities (if applicable) for 3 years including:
- Profit and loss statement
- Balance sheet
- Schedules
- Independent auditors report
- ITR, Tax Audit Report
- Latest Provisional financials (if last audited financials are > 13 months old)
- Signed Projections
- Udyam Registration Certificate (if available)
- Duly signed SME Application Form
- Latest sanction letter of existing bank (wherever applicable)
- Sanction Compliance Checklist
- Udyam Registration Certificate (if available)
- Duly signed SME Application Form
- Copies of title deeds, property tax paid receipts, approved plans etc.
Note: This is an indicative list and bank may ask for additional documents if required.
Purpose
- Overdraft facility for working capital purposes
