Equitas Bank Overdraft offers all its account holders an overdraft facility with minimum interest rate.
Equitas Bank Merchant Overdraft
Equitas Bank offers funds through Equitas Bank Merchant Overdraft to meet your working capital needs. This is best suited for frequent cash inflow.
Equitas Bank Merchant Overdraft is mainly designed for businesses under the category traders, retailers, service providers, etc.
- Such business houses or MSMEs need funds to:
- Meet seasonal demands
- Avail cash discounts by paying on time
- Pay off vendors
- Extend credit to customers
Equitas Bank Overdraft Features
- Equitas Bank assigns a limit under which the borrower can withdraw
- Equitas Bank Merchant Overdraft has a pre-sanctioned limit
- It is unsecured overdraft in nature
- Faster approvals are granted
Equitas Bank Overdraft Eligibility
- MSMEs should have owned premise
- Applicant should maintain an account with the Equitas Bank
- Minimum 3 years of Proprietorship/ Partnership business
- Minimum Turnover of Rs. 5 lakhs per year
Equitas Bank Overdraft Documents Required
- Business Registration Proof
- KYC documents
- Bank statement
- Property ownership document
Equitas Bank Overdraft Amount
Get overdraft from Rs. 1 lakh to Rs. 2 lakhs
One time approval for usage upto 12 months
Equitas Bank Overdraft Interest Rate and Other Charges
| Rate & Charges | Interest Rate |
|---|
| Interest Rate | 21% |
| Processing fee | 2% |