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- Cash Credit (CC) and Overdraft (OD)
Cash Credit (CC) and Overdraft (OD)
To manage day to day operational expenses and to align any temporary liquidity mismatch, corporates can avail themselves of the Cash Credit (CC) or Overdraft (OD) facility from Axis Bank. Cash credit is a facility through which the Bank lets the corporate over draw its account over and above the corporate's own funds up to the assessed drawing power.
Features & Benefits
Flexible credit solution
Cash credit is a drawing power (DP)-based facility available for up to 6 months with monthly interest payments.
Dynamic drawing power calculation
The drawing power is determined based on the corporate's stock availability, debtors, and creditors.
Unrestricted access to funds
Within the available drawing power, corporates can draw down funds any number of times.
Ready line of credit
These facilities serve as a ready line of credit, available "on tap."
Convenient fund access
Operates like a current account, allowing fund usage through cheques or online transfers such as NEFT/RTGS.
Competitive interest rates
Interest rates for these facilities are linked to the bank's Marginal Cost of Lending Rate (MCLR).
Nominal interest rate
Corporates pay interest only for the time and the amount the facility is availed for.
This account comes with a host of unique features:
- Zero Monthly Average balance Requirement
- Extended benefits in cash deposits, withdrawal, chequebook, NEFT and RTGS
- Nil Monthly Service charge
- Classic , Supreme and Platinum options available for debit card. Click here
Contact Us
To avail the facility, please visit our nearest Branch/RM
