About Overdraft

Overdraft is a credit facility which is provided to an individual against his/her salary credited in their bank account. In other words, overdraft is a credit arrangement allowed by the banks to individuals for using or withdrawing more money from their respective accounts even when it is below zero.
For availing overdraft facility, an individual has to offer his/her salary credited in their bank account. However, interest rates charged and overdraft sanctioned to them by banks varies on the salary. Some banks charge the interest rate on the amount withdrawn for use or charge on the reducing balance basis.

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If a check was made on the basis of some amount to be received, and if it is delayed, the check does not bounce due to inadequacy of funds. Hence, overdraft facility allows for a better payment history.


It also ensures timely payments and avoidance of late payments penalties as payments can be made even if there is a lack of sufficient balance in the account.


It requires less paperwork that would usually be required in long-term loans as overdraft facility is easy to avail.


Overdraft facility has the advantage of flexibility as one may take it at any time, for any amount (up to the limit allotted), and for even as less as one or two days.


The interest is calculated only on the amount of funds used. This allows for greater savings in the interest cost compared to a normal loan taken for a fixed time period. While in other loans, interest is required to be paid even if the money remains unused. In this case, the charging of interest starts with the amount over drawn and it stops instantly when it is paid off.

Overdraft against salary eligibility

A person is eligible for Overdraft, If their salary account with their bank has regular salary credits. The minimum net monthly income should be Rs 25,000 and the company should be on our approved list for overdraft facility.

Documents required for Overdraft

1. PAN Card
2. Identity Proof – Any one (e.g. Voter ID / Driving License / Passport)
3. Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
4. 3 Months’ Salary Slip latest
5. 6 Months Bank Statements latest


Maximum age of applicant at loan maturity: 60 years


Minimum Net Monthly Income: Rs 15,000

Credit Rating

Applicant should have the bank specified credit score.

Frequently Ask Questions

We have published some of the FAQ's for general guidance, information and assistance of users.In case your unable to get your answers please write to us at

Yes, you are eligible for overdraft, if your salary account with your bank has regular salary credits and your company is on our approved list for overdraft facility. Also, your minimum net monthly income must be Rs. 25,000.

Based on your account performance and salary credits, your overdraft limit will be renewed after 12 months, once the payment of the annual renewal fee is made.

Overdraft is available in the following locations only: Mumbai, Delhi, Gurgaon, Noida, Bangalore, Chennai, Hyderabad, Secunderabad, Kolkata, Pune, Nasik, Jaipur, Baroda, Indore, Bharuch, Surat, Silvasa, Chandigarh, Ludhiana, Patiala, Coimbatore, Ahmedabad, Lucknow, Calicut, Trichur and Cochin.

This amount is made available in your Salary Account. You can withdraw it through the regular modes i.e. ATM, Cheques, online transfers.

Depending on your eligibility, the maximum amount you can avail as an overdraft is Rs. 1 Lakh. The minimum overdraft amount is Rs. 25,000.

Below is our Registered Office Address:

A-8, 1st Floor Priyadarshni Vihar,
Above AU small finance Bank,
Delhi - 110092
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