The overdraft facility can be availed on your current account, offering you the flexibility to withdraw funds in excess of your account balance. Subject to satisfying the terms, a limit can be established on your current account, which allows you to withdraw funds up to the overdraft limit. Interest on overdraft facility depends on various factors and starts from the Bank’s base rate (currently 8% p.a).
Eligibility and Terms:
- Fund short term requirements on working capital needs.
- Granted on clean basis, no security required.
- This facility is granted on a one year renewable basis.
- Payment of the accrued interest at month end is expected.
- The overdraft facility must be fully settled on the anniversary date of the facility.
How to Apply:
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