Get Your Emergency Funds In Just 1 Day.
With an Overdraft Facility, you get access to a pre-approved amount that you can keep available for your future needs.
Get Your Emergency Funds In Just 1 Day.
With an Overdraft Facility, you get access to a pre-approved amount that you can keep available for your future needs.
What is an Overdraft Facility?
An Overdraft Facility allows you to withdraw or use funds beyond the available balance in your account, up to a limit approved by the lender. You get access to an additional approved limit when you need extra funds. Instead of taking a conventional loan for every short-term requirement, an OD can provide an additional layer of financial flexibility.
Types of Overdraft Facilities
01
Against Property
Use your residential or commercial property as security to access funds for business or personal financial requirements.
02
Against Fixed Deposit
An overdraft against an FD can provide quick access to funds without closing your fixed deposit, subject to lender terms and eligibility.
03
Against Insurance Policy
Eligible insurance policies can be used as security for an overdraft, with the limit based on the policy value and lender terms.
03
Against Salary
Salaried individuals may access an overdraft facility based on their salary and banking relationship, offering flexibility for short-term financial needs.
Why Choose an Overdraft Facility?
Sometimes, You Don’t Need a Big Loan. You Just Need Some Extra Funds.
➜ Unexpected expenses.
➜ A temporary cash-flow gap.
➜ An urgent financial requirement.
You may not always want to take a traditional loan for a short-term need.
That’s where an Overdraft Facility can be useful.
It gives you access to funds beyond your available balance, subject to the terms and limit approved by the lender.
Explore Your OD Options →
Why Choose an Overdraft Facility?
Sometimes, You Don’t Need a Big Loan. You Just Need Some Extra Funds.
➜ Unexpected expenses.
➜ A temporary cash-flow gap.
➜ An urgent financial requirement.
You may not always want to take a traditional loan for a short-term need.
That’s where an Overdraft Facility can be useful.
It gives you access to funds beyond your available balance, subject to the terms and limit approved by the lender.
Explore Your OD Options →
Documents Required
- Identity & Address Proof: PAN, Aadhaar, Passport or Driving Licence
- Income Proof: Salary slips, ITRs or bank statements
- Bank Statements: Recent 3–6 months’ statements
- Business Documents: GST, Udyam Registration or business proof, if applicable
- Collateral Documents: Property, FD, insurance or other security documents, if applicable
FAQs
Salaried individuals, self-employed professionals, business owners and eligible companies may be able to apply for an overdraft facility. Eligibility depends on factors such as income, credit profile, banking history, business performance and the lender’s criteria.
An overdraft can help manage short-term financial requirements such as working capital, business expenses, urgent payments, cash-flow gaps, or unexpected personal expenses, depending on the facility offered by the lender.
Generally, interest is charged on the amount you actually use rather than the full sanctioned limit. However, charges and interest calculations can vary between lenders, so it is important to check the specific terms of your facility.
Yes. Your credit history and CIBIL score may be considered when assessing your application. However, lenders may also consider income, repayment history, banking transactions and other financial factors before making a decision.
The approved overdraft limit depends on factors such as your income, credit profile, banking history, business turnover, financial strength, collateral and the lender’s policies. There is no single limit applicable to all borrowers.
Contact fynndege at: +91-9354255841
Documents Required
- Identity & Address Proof: PAN, Aadhaar, Passport or Driving Licence
- Income Proof: Salary slips, ITRs or bank statements
- Bank Statements: Recent 3–6 months’ statements
- Business Documents: GST, Udyam Registration or business proof, if applicable
- Collateral Documents: Property, FD, insurance or other security documents, if applicable
FAQs
Salaried individuals, self-employed professionals, business owners and eligible companies may be able to apply for an overdraft facility. Eligibility depends on factors such as income, credit profile, banking history, business performance and the lender’s criteria.
An overdraft can help manage short-term financial requirements such as working capital, business expenses, urgent payments, cash-flow gaps, or unexpected personal expenses, depending on the facility offered by the lender.
Generally, interest is charged on the amount you actually use rather than the full sanctioned limit. However, charges and interest calculations can vary between lenders, so it is important to check the specific terms of your facility.
Yes. Your credit history and CIBIL score may be considered when assessing your application. However, lenders may also consider income, repayment history, banking transactions and other financial factors before making a decision.
The approved overdraft limit depends on factors such as your income, credit profile, banking history, business turnover, financial strength, collateral and the lender’s policies. There is no single limit applicable to all borrowers.
Contact fynndege at: +91-9354255841
Find the right financing option for your business with Fynnedge.
Find the right financing option for your business with Fynnedge.
