Overdraft Against Salary


Overdraft Against Salary


Min- 21 years & Max 58/60 yrs at the time of expiry of Overdraft.


The Proposed customer who are employees of Pvt. Ltd./ Public Ltd./ Govt. Corporation/ Dept./ Registered Education institutes are eligible for Over Draft against salary, In case of new customer whose last 3 consecutive months salary are credited to saving account in our bank are eligible for this facility. The existing customers/ Account holders whose salary are crediting in our bank are eligible for this facility.
He must have own residence.


Maximum 15 Months. Account will be renewed after 12/15 months with reference to the satisfactory transactions made in the account. The General period for all accounts in overdraft against salary will be May to April.


Any personal Valid reason


90% of the average net salary for last 3 consecutive. This amount is made available in Customers Salary Account. Customer can withdraw it through the regular modes i.e. ATM, Cheques, online transfers.


Customer have to pay interest only on the loan amount actually used @11.00% PA.

Documents Required:

1)Application form duly signed with photographs affixed
2)Bank Statement - Past 1 Year
3)Income and tax proofs
4)Age proof
5)Residence proof
6)KYC Documents


As per Bank Policy.

Company Undertaking:

Company/Organization where the individual is working should give an undertaking that the entire salary shall be remitted to the Bank and prior permission of the Bank will be required before changing the salary instructions.
Undertaking from the Company/Organization that, in case of the borrower being terminated from the company/organization the outstanding dues will be adjusted from the termination benefits payable to the Employee by the Employer.


One surety should be taken. If spouse is employed person, then He/ She may be taken as surety

Pre closure Charges:

Repay the loan at any time without having to pay a pre closure fee.

Processing Fee:

Processing fees as per overdraft facility

Conversion of Overdraft facility into term loan: At the request of the customer Overdraft account may be converted in to term loan for 6 months

If any query, please feel free to contact us.