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Business OD & Invoice

An Unsecured Business Overdraft is a flexible financing option that allows businesses to withdraw funds beyond their available bank balance, up to a pre-approved limit. This product enables businesses to access funds as needed and repay the balance at their convenience. Interest is charged only on the amount utilized, making it a cost-effective solution. With no collateral required, the unsecured overdraft is ideal for businesses of all types, offering a simple and adaptable way to manage cash flow and meet financial needs.

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Acceptance Criteria

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Individual, Self- Employed & Company Firm

  • Production and Manufacturing:

    Includes raw material industries, factories, and construction businesses.

  • Service and Information Sector:

    Covers service providers, IT companies, and human-centric services like healthcare and education.

  • Trading Businesses:

    Encompasses dealers, wholesalers, and retailers involved in goods distribution.

  • Consumer-Focused Businesses:

    Retail stores, end-user service providers, and other customer-facing operations.

  • Miscellaneous and Specialized Industries:

    Any other unique businesses, including freelancers, startups, and niche enterprises.
Loan Amount Offer
Maximum Amount upto : 1 Crore
Rate of Interest(%)
Minimum ROI Start From : 12.49 % P.A.
Maximum ROI : 18.50 % P.A.
Tenure
Minimum Tenures : 12 Months
Maximum Tenure : 48 Months
Documents Required for Loan
Individual & Self Employed Company Pvt. Ltd. & Public Ltd.
Applicant KYC: PAN Card, Aadhaar Card Director & Partners KYC: PAN Card, Aadhaar Card, Voter ID
Co-Applicant KYC: PAN Card, Aadhaar Card, Voter ID (if required) Company Certificates: CRC Certificate, TAN Certificate, Company PAN Card, Directors DIN Certificate, Board Resolutions, Shareholding Pattern, Partnership Deed
Income Proof: Last 2 years financial return, GST Return (3RB) Income Proof: Last 2 years financial return, GST return of company
Residence Proof: Aadhaar Card, Election Commission Card, Driving License, Gas Receipt, Passport, Rent Agreement (Any One) Residence Proof: Aadhaar Card, Election Commission Card, Driving License, Gas Receipt, Passport, Rent Agreement (Any One)
Banking: Last 1 year bank statement (Current/Savings Account), any one  Banking: Last 1 year bank statement (Current Account)
Photograph: Live photo Photograph: Live photo
Business Proof: Trade License, Shop Act, GSTN Certificate, Food License, Business License, MSME Certificate, etc. Business Proof: Trade License, Shop Act, GSTN Certificate, Food License, Business License, MSME Certificate, etc.
Golden Features and Benifits
  • 24/7 instant access to funds
  • Continuous access to a pre-determined line of credit
  • Flexibility in repaying the amount borrowed
  • Pay interest only on the amount utilised
  • Financial protection against unexpected financial emergencies
  • No collateral required.
  • Funds are often disbursed fast, making it easier for immediate financial needs
  • Borrowers can choose the tenure that suits their financial situation.
  • Competitive interest rates are often available