Axis Bank Overdraft, Axis Bank Overdraft Interest Rate

HDFC Bank offers all its account holders an overdraft facility with minimum interest rate.

Axis Bank Overdraft Against Property

If you have any commercial or residential property to be offered to the Axis Bank as collateral, you can avail hassle-free Overdraft Against Property with ease.

Axis Bank Overdraft Features

Fulfil your working captital requirements
It is offered to salaried individuals as well as self employed individuals
Time limit of this overdraft is 12 months but it can be renewed thereafter

Borrowing limits available under Axis Bank Overdraft Against Property

Axis Bank Overdraft Against Property	Borrowing limits
Minimum Amount	Rs. 5 lakhs
Maximum Amount	Rs. 5 crores

Axis Bank Overdraft Documents Required

Application Form
PAN Card
Proof of Identity
Proof of Address
Date of Birth Proof
Signature Proof
Proof of Income

Axis Bank Overdraft Interest Rate

Repo Rate + 4.00% to Repo Rate + 4.15% (currently 8.90% to 9.05% p.a.)

Fees and Charges

Processing Charges: 1% or Rs. 10,000 (whichever is higher)
Part payment charges: Nil
Foreclosure Charges: 2% (plus GST as applicable) of the opening Overdraft limit set for the specific year
Renewal charge: 0.50% of the drawing power set or Rs 5,000 whichever is lower plus applicable GST

Axis Bank 24x7 Overdraft Against Fixed Deposit

Axis Bank provieds 24x7 Overdraft Against Fixed Deposit facility to its customers who have their FD accounts with Axis bank to get funds online and instantly against their fixed deposit without breaking it before maturity.

Do remember that under 24x7 Overdraft Against Fixed Deposit, one cannot avail funds for more that the pre-qualified amount.

Axis Bank Overdraft Features

Online: Axis Bank 24x7 Overdraft Against Fixed Deposit is an online and paperless option to get instant credit facility.
Get funds for Working Capital Needs: It helps you by providing instant funds for your Working Capital needs.
Customised Offers: Customers will get customised offers under this facility.
Cost Saving: Under 24x7 Overdraft Against Fixed Deposit, you need to pay interest only on the amount utilised.
Secured Borrowing: Axis Bank 24x7 Overdraft Against Fixed Deposit is a secured type of loan as a lien is marked on the fixed deposits against which it has been availed.

Borrowing Limits available under Axis Bank 24x7 Overdraft Against Fixed Deposit

You can easily avail overdraft of up to 85% of your fixed deposit amount

Process of availing Axis Bank 24x7 Overdraft Against Fixed Deposit

To avail of an overdraft against your fixed deposit simply log in to Axis Bank Internet Banking and follow this process:

Log in to Internet Banking
Click on 'Apply Now' button
Click on 'Loans'
Select 'Loan against Fixed Deposit'

As this is an online process, the customers are not required to submit any additional physical documentation in order to get the overdraft.

Axis Bank Overdraft FAQs

As soon as you complete the digital application via Axis Bank Internet Banking, an overdraft account number is generated. After the generation of the overdraft account number, you will immediately get the funds.

Under under 24x7 Overdraft Against Fixed Deposit, you will need to pay interest only on the amount utilised. For example, if you are eligible to get funds of up to Rs 1,00,000 under 24x7 Overdraft Against Fixed Deposit but you withdraw only Rs 40,000 then you will be charged interest only for Rs 40,000 and not on whole Rs. 1,00,000.

Yes, you can avail funds under 24x7 Overdraft Against Fixed Deposit through your mobile. For that, you need to log in to Mobile then select 'Loans' and then press on option 'Loan against Fixed Deposit'.