Overdraft Account

Overdraft service for business demands and emergencies.

Purpose

• To meet urgent financial needs
• Business demand/Development

Eligibility

• A Current Account with our Bank or with any other bank which is atleast 6 months old, and is the main operative account
• Your business must be running for at least the last 3 years
• Age below 60 years

Interest Calculation Method

• Daily Balance method

Security

• Considering 50% of the total property valuation.
• Collateral Security in the form of Building, Shopping Complex, Plot etc.

Documentation

• I.T.R. – 3Years, Balance Sheet and Profit & Loss Account
• All Original Documents
• Udyam registration Copy 
• Proof of ownership of Residential or Commercial Property (including Parental Property) in select locations
• Latest 6 months Bank statement of Business needs to be added.
• Proof of Identity and Residence
• KYC documents to establish identity, DOB and address.
• Tax paid receipts
• Licence Copy

Over Draft against Term Deposits available

• Rate of Interest
• Plus 2% on Term Deposit ROI