Overdraft Loan
AVAIL SECURED OVERDRAFT LIMIT ON THE BASIS OF YOUR BANKING, TURNOVER AND GST
What is Overdraft Loan
Overdraft/Cash Credit popularly known as OD/CC is a Working Capital Loan provided by the Banks/NBFCs against your existing Property mostly for working capital need.
Rate of Interest
Rate of Interest at present varies from 9.25% to 16% depending on the profile & property of the customer.
Property
We are providing funding on almost all types of properties i.e.
- Residential – Approved, Regularized
- Commercial – Approved, Regularized
- Industrial – Approved
- Farm House – Approved
- Hotel, Restaurant, Guest House, School, College etc.
Overdraft Loan Eligibility
Overdraft Eligibility depends on the following conditions :-
- Your total annual income
- Your existing liabilities.
- Valuation of your property.
- Your total work experience and experience in your current job/Business.
- Financial documents.
* Minimum Age at the time of Application should be 21 years
Maximum Loan Amount depends on the Sales, Debtors , Creditors and Property Market Value. Banks takes into consideration various factors such as Annual Turnover/Receipt/Commission, Gross Profit, Net Profit, Average Bank Balance, Present EMI and Various other factors such as your property condition, your work condition etc.
