HDFC Bank Overdraft, HDFC Bank Overdraft Interest Rate

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

HDFC Bank Salary Plus Overdraft

HDFC Bank offers all its Salary Account holders an instant overdraft facility against salary called 'Salary Plus'. This overdraft facility is offered to corporate salary account holders. Though this facility is available, but for using it, one needs to get it activated. It can be activated instantly.

How to avail Salary Plus overdraft facility in HDFC Bank?

In order to avail Salary Plus overdraft facility in HDFC Bank, you are not required to visit bank branch and you just need to go to the HDFC bank online portal and follow some easy steps as described below and then you will get an overdraft under your name. You can avail Salary Plus overdraft facility in HDFC Bank through the following steps:

1. Log in to your HDFC Bank NetBanking account using your login credentials
2. Click on the 'Offers' tab on the top right hand side of the page
3. Click on your pre-approved Salary Plus offer banner
4. Fill in your details
5. Set your Overdrft limit
6. Accept 'Terms & Conditions'
7. Enter 'OTP' and click on 'Submit' button to activate the facility

It will get acticated with in seconds and you can use the Salary Plus overdraft facility.

HDFC Bank Eligibility Criteria

• You should have a Corporate Salary Account in HDFC bank
• There should be a regular salary income in your account
• Your salary should be atleast Rs. 15,000 per month
• This OD facility is extended to the customers based on their eligibility and credit history

HDFC Bank Overdraft Interest Rate

HDFC Bank Overdraft Features

• Salary Plus a pre-approved credit facility which needs to be activated
• You can get up to 3 times your salary (subject to a minimum of Rs. 25,000 and maximum up to Rs. 1.25 Lakhs)
• Minimum amount of Salary Plus overdraft is Rs. 25,000
• Maximum amount of Salary Plus overdraft is Rs. 1.25 lakhs
• You need to pay interest only on the amount used and the duration of utilisation
• This OD facility is extended for a period of one year and can also be renewed
• You do not required to pay any EMI toowards its repayment but you have to pay only the interest every month

HDFC Bank Overdraft Benefits

• It can be activated with minimal documentation
• You can opt for an overdraft between Rs 25,000 and Rs 1.25 lakhs
• You can conveniently withdraw funds anytime, anywhere
• There are no pre-closure charges or penalty
• One can get OD up to 3 times against his salary
• Salary Plus OD can be renewed after one year with ease in HDFC Bank
• OD interest rate charged only on the amount you actually use and for the duration you use it
• It is a non-EMI product

HDFC Bank Overdraft Fees and Charges

15% to 18% p.a. for the period that the money is used

HDFC Bank Overdraft Against Fixed Deposits

Avail up to 90% of overdraft on your fixed deposit instantly. Basic Requirements for HDFC Bank Overdraft Against Fixed Deposits

• You must have an FD account with HDFC Bank
• You need to link your current or savings account to your Fixed Deposit account
• Your FD account should be atleast of Rs 25,000 and for a minimum tenure of 6 months 1 day, in order to avail a Overdraft against FD/ Super Saver facility

HDFC Bank Overdraft Against Fixed Deposits Features and Benefits

• You can get up to 90% of overdraft on your FD
• Get funds without breaking your fixed deposit
• Pay interest only on the drawn amount for the period it is used
• Remaining Fixed Deposit continues to earn you interest

HDFC Bank Overdraft Against Fixed Deposits Eligibility

• You should be Resident Individual, Hindu Undivided families or Private/ Public limited company
• You must have an FD account with HDFC Bank
• A minimum amount of FD is Rs 25,000 and minimum tenure of FD is 6 months 1 day to open a Overdraft against FD/ Super Saver Account

HDFC Bank Overdraft Against Fixed Deposits Interest Rate

For the amount withdrawn, the interest rate is 2% above the FD rate for the period that the money is used.