Which Overdraft Loan Schemes In Banks are provided to the customers? The overdraft is the most secure way to borrow a loan amount from the bank at a lower charged rate of interest. You can apply for an overdraft account to the bank by following a simple online procedure. To know which banks provide you the overdraft loan read the given article and know their loan features and charged fees or interest rate. Banks and their overdraft loan facility for the customers There are many banks that have been providing overdraft facilities to the customers for an easy loan process. And some of the top banks that are giving overdraft loans to the customers are mentioned below. HDFC Bank: You can apply for an overdraft account from HDFc Bank if your monthly net income is INR 15,000 and above. Using HDFC overdraft account you can take a loan against your salary and can pay for it in equated monthly loan installments. The EMI amount would be deducted automatically from your salary account. Also, you can foreclose your loan by making prepayment of the outstanding loan amount without paying any prepayment charges. SBI: The bank offers the overdraft facility to all the individuals whether they are working or retired. You can take the overdraft loan against your salary, fixed deposit or collateral like a house. The loan amount can differ according to the SBI overdraft loan scheme as it provides three different types of overdraft loan scheme to the customer such as SBI Maxgain and SBI loan against salary. ICICI Bank: ICICI provides instant overdraft loan sanction to the customers up to a maximum loan amount up to INR 15 lakh. You just need to submit a few documents and charges to the bank to create an Overdraft account if you are a new customer. Otherwise, the existing bank customer can get the loan amount disbursed to their account after the loan sanction. There is no need to provide any collateral for the loan amount. Get the overdraft loan easily by using the bank online services You can apply for the overdraft account by going to the bank official website. The user just needs to fill up the online OD application form and is required to submit some details like name, mobile number, PAN details, income source, email address, etc. And, you can enjoy overdraft facility by paying a minimum processing fee to the bank. The required documents for the overdraft account are Individual ID proof, address proof and income proof such as Aadhar card, PAN card, salary slip and income tax return (ITR) report. So, take the Overdraft loan from the mentioned list of banks and satisfy your financial needs instantly without any hassle. You can borrow the loan amount from your overdraft account
anytime and can pay for it in EMI. The loan amount can be used for any purpose such as for financial needs like medical aid, debt payments, etc. And, the benefit of the overdraft account is that you can renew your account without any trouble by paying a renewal fee to the bank to use the overdraft facility whenever you need urgent funds.