HDFC Bank offers all its account holders an overdraft facility with minimum interest rate.
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 Against Property||Borrowing limits|
|Minimum Amount||Rs. 5 lakhs|
|Maximum Amount||Rs. 5 crores|
Repo Rate + 4.00% to Repo Rate + 4.15% (currently 8.90% to 9.05% p.a.)
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.
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:
As this is an online process, the customers are not required to submit any additional physical documentation in order to get the overdraft.
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'.