Overdraft Limit Loan

Overview

An Overdraft Limit Loan is a flexible credit facility provided by banks and financial institutions that allows you to withdraw more money than what is available in your current or savings account, up to a pre-approved limit. It works like a revolving line of credit – you only pay interest on the amount you actually use, not the entire sanctioned limit.

This makes overdraft loans ideal for managing short-term cash flow gaps, emergencies, or working capital needs without the burden of fixed EMIs.

    Quick Inquiry Form

    Key Features & Benefits

    Pre-Approved Credit Limit

    Based on income, credit score, or collateral.

    Pay Interest Only on Usage

    Interest is charged only on the utilized amount.

    Flexible Withdrawals & Deposits

    Withdraw funds anytime and repay as per convenience.

    Revolving Credit Facility

    Reuse the limit multiple times during the tenure.

    Quick Processing

    Faster approval compared to other types of loans.

    Eligibility & Required Documents

    Eligibility Criteria

    Eligibility depends on whether the overdraft loan is secured or unsecured, but generally includes:

      • Salaried Individuals – Stable monthly income, good credit history.

      • Self-Employed / Business Owners – Business continuity, profit track record, and financial stability.

      • Collateral Holders – Property owners, fixed deposit holders, or account holders with the lending institution.

    Documentation Required

    Identity Proof – Aadhaar Card, PAN, Passport, Driving License.

    Address Proof – Utility bills, Aadhaar, Passport, Voter ID.

    Income Proof –

    • Salaried: Salary slips, bank statements, Form 16.
    • Self-employed: ITR, Balance Sheet, Profit & Loss account.

    Collateral Papers (if applicable) – Property deed, FD receipts, etc.

    How Loan Against Property Works

    Application & Approval

    Apply online or at a branch, limit approved based on eligibility.

    Sanction of Limit

    A credit limit is assigned to your account (e.g., ₹5,00,000).

    Usage

    You can withdraw any amount up to the limit. For example, if you use only ₹1,00,000, interest is charged only on that.

    Repayment

    Repay whenever you can, reducing interest outgo.

    Reusability

    The limit gets restored once you repay, functioning like a revolving credit line.

    Advantages of Choosing OnClock Overdraft Limit

    At OnClock, we understand that financial needs don’t always come with a schedule. That’s why our Overdraft Limit Loan is designed to give you flexibility, transparency, and control.

    🔹 Instant Access to Funds

    Get quick approvals and access your overdraft facility directly from your account whenever you need it.

    🔹 Pay Interest Only on What You Use

    Unlike traditional loans, interest is charged only on the withdrawn amount, helping you save significantly.

    🔹 Flexible Repayment

    No fixed EMIs – repay at your own pace as funds become available.

    🔹 Reusable Credit Facility

    Withdraw, repay, and withdraw again – your approved limit works like a revolving credit line.

    🔹 Secured & Unsecured Options

    Choose between overdraft against salary, deposits, or property – or apply for an unsecured limit if you qualify.

    🔹 Transparent Terms

    No hidden charges, clear agreements, and dedicated support to guide you at every step.

    🔹 Ideal for Businesses & Individuals

    Whether it’s for working capital, emergency needs, or personal expenses, OnClock’s overdraft loan adapts to your requirements.

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