This is the biggest advantage.
You can withdraw money as and when required, subject to the available limit.
Most overdraft facilities allow you to deposit excess funds and reduce the outstanding balance. This reduces interest immediately.
If permitted by the lender, repaid amounts may become available for withdrawal again.
See how an overdraft facility can help reduce interest costs when funds are utilized gradually.
Rahul takes a loan of ₹10,00,000 at 14%.
Rahul gets a ₹10,00,000 overdraft limit.
Pay Interest Only On The Amount Used
Better Cash-Flow Management
Flexible Withdrawals
Reduce Interest By Depositing Surplus Funds
Useful For Business & Professional Needs
An Individual Earning Salary
A Credit Score Above 700
Above 21 Yrs And Below 60 Yrs
Min Monthly Income of ₹40,000 (Metro Cities) / ₹30,000 (Other Cities)
Minimum Total Work Experience Of At Least 1 Year
