Bajaj Overdraft Loan

Bajaj Finserv offers overdraft loan under the name of Flexi Loan. You can lower your EMIs up to 45% with Bajaj Finance overdraft loan. Get instant approval and quick disbursal of the loan amount with quick online process. You can borrow funds whenever you need with Bajaj overdraft loan. No charges are levied on prepayment and the interest is levied only on the amount utilized at the end of the day.


Bajaj Finance Overdraft Loan

Following is the table of complete details of Bajaj Finserv Overdraft loan:

Loan amountUp to Rs. 25 Lakhs. The limit is sanctioned based on customer;s profile
Rate of interest 13% p.a. onwards. Charged day-wise on the amount utilized
TenureUp to 60 months
Approval TATWithin 5 minutes
Disbursal TATWithin 24 hours
CollateralNot required
Prepayment chargesNil
Processing feeUp to 4% 
Age21 to 67 years

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Bajaj Overdraft Loan Eligibility

Following is the detailed eligibility criteria for Bajaj OD loan:

  • Nationality: The applicant should be an Indian citizen.
  • Work status: The applicant should be a salaried individual working with a multinational company (MNC), public or private limited company.
  • Age: The minimumage should be at least 21 years at the time of loan application and the maximum age should not be above 67 years at the time of loan maturity.
  • CIBIL score: The applicant must have a Credit Score of 750 or above to be eligible for Bajaj Finance OD loan. 

Bajaj Overdraft Loan Document Required

You require the following documents to apply for Bajaj Finserv OD loan: 

  • KYC documents like Aadhaar Card, PAN Card, Driving License, Voter ID, or Passport.
  • Bank account statement for the last 6 months.
  • Form 16 or latest salary slips 
  • Employee ID card is required for overdraft Bajaj Finance. 

Difference Between Bajaj Overdraft Loan and Bajaj Term Loan

The difference between Bajaj term loan and Flexi personal loan is the amount sanctioned. Under  term loan, the entire sanctioned loan amount is disbursed in one go and the borrower has to pay interest on the same. The EMI on term loan includes the principal and interest amount. However, in case of a Bajaj Finance overdraft facility, the sanctioned amount is assigned to the borrower’s account and they can borrow the same as per their requirements. Borrowers can choose to pay only the amount of interest as their Bajaj Finance OD limit EMI. The borrower can repay the principal amount at the end of the tenure of the loan.

How to Apply for Bajaj Overdraft Loan?

Following are the steps to apply for Bajaj OD loan online:

  • Fill in your personal, financial, and employment details.
  • Then select the loan amount you require and the tenure of the loan.
  • Submit the required documents for verification and wait for approval of Bajaj Finance OD facility.
  • Once the application is approved, the loan amount will directly be credited to your bank account within 30 minutes.

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Bajaj Overdraft Loan FAQs

What is a Bajaj OD Loan?


Bajaj Overdraft Flexi Loan is similar to an overdraft facility. It allows you to borrow money up to a certain limit approved by the lender. Bajaj overdraft interest rate is charged only on the amount used in a day and not on the amount sanctioned. The sanctioned loan amount can be used for any purpose. You can prepay the loan as per your convenience. However, the interest amount needs to be paid as per the agreed conditions.

What is the rate of interest for Bajaj OD?


The rate of interest for Bajaj Finance OD is charged day-wise only on the amount utilized. The interest rate starts from 13% p.a.

How do you calculate interest rate on OD?


You can use Bajaj Finance overdraft loan calculator to calculate the EMI and interest rate on OD.