Bajaj Overdraft Facility
Bajaj Finance offers the Bajaj Overdraft Facility under two categories, i.e. Flexi Hybrid Loan and Flexi Dropline Loan. You can avail of a credit limit up to ₹55 Lakhs as per your eligibility for a tenure of up to 108 months. The interest rate ranges from 10% to 30.5% per annum.
Bajaj Finance Overdraft Facility Details
The key details of the Bajaj Finance Overdraft facility are as follows:
| Loan Amount | Up to ₹55 Lakhs |
|---|---|
| Tenure | 12 - 108 months |
| Variants | Flexi Hybrid Loan and Flexi Dropline Loan |
| Interest Rate | 10% - 30.5% p.a. |
| Processing Fee | Up to 4.13% of the loan amount |
| Prepayment Charges | Nil |
Features & Benefits of Bajaj OD Loan
The key features and benefits of the Bajaj Finance Overdraft Facility are as follows:
- Withdraw 24x7 as many times as required from your available loan limit during the tenure.
- Pay interest only on the amount withdrawn from the available limit.
- You can make part-payment as many times as you want with zero additional charges.
- Hassle-free online application process.
- It helps to reduce your EMIs by up to 45% compared to traditional loans.
- With Bajaj Finance Flexi Loan login, you can easily manage your transactions, track usage, and plan repayment.
Bajaj Finance Overdraft Interest Rates & Charges
The following are the interest rates and other charges associated with the Bajaj OD Loan:
- Interest rate: Bajaj Finance OD Interest Rate ranges from 10% to 30.5% p.a.
- Processing fee: Up to 4.13% of the loan amount.
- Flexi facility charge: ₹1,999 - ₹18,999.
- Bounce charges: ₹700 - ₹1,200.
- Prepayment charges: Nil.
- Penal charges: Up to 36% p.a.
- Annual maintenance charges: Up to 0.295% for Flexi Dropline Loan & up to 0.472% for Flexi Hybrid Loan.
- Credit guarantee scheme fee: Up to 1.18% p.a. of the loan amount.
- Credit guarantee scheme renewal fee: Up to 1.18% p.a. on the outstanding loan amount.
Bajaj Finance Overdraft Loan Eligibility Criteria
Below are the eligibility criteria for the Bajaj OD Facility:
- Nationality: Indian.
- Customer Profile: Salaried or self-employed.
- Minimum Age: At least 21 years at the time of loan application.
- Maximum Age: No more than 80 years at the end of the loan tenure.
- Employment: Employed with a Public, Private or Multinational Company (MNC).
- CIBIL Score: 650 or above.
- Minimum Salary: ₹25,0001 per month.
Documents Required for Bajaj OD Facility
The list of documents required to apply for the Bajaj OD Limit is mentioned below:
- KYC documents: Aadhaar/ Passport/ Driving License/ Voter’s ID/ NREGA Job Card/ Letter of National Population Register
- PAN Card
- Employee ID Card
- Last 3 months’ Salary Slips & Bank Account Statements
- Pension Order
- Piped Gas Bill
- Utility Bill
- Phone Bill
- Ration Card
- Letter of Allotment of Accommodation Issued by Employer
- Property/ Municipality Tax Receipt
- Real-time image/ Photograph
Steps to Apply for Bajaj Overdraft Facility Online
Here are the easy steps to apply for the Bajaj Overdraft facility online:
- On the Bajaj Finance website Flexi Loan page, click on the ‘Check Eligibility’ tab.
- Enter your mobile number and share the OTP you receive.
- Check if there is an offer for you. If not, fill in the application form with some basic details.
- Click on the ‘Proceed’ button.
- Enter the required offer/ loan amount.
- Choose from three personal loan variants: Term, Flexi Term, or Flexi Hybrid Term.
- Select the required repayment tenure and then click on ‘Proceed’.
- Complete the KYC process and submit your application.
FAQs
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 at your convenience. However, the interest amount needs to be paid as per the agreed conditions.
Yes, you can withdraw the full amount from your approved Bajaj OD/ Flexi Loan limit at once.
Bajaj OD interest rate in 2026 ranges from 10% to 30.5% p.a.
Yes, salaried as well as self-employed individuals can apply for the Bajaj overdraft facility.
It depends entirely on your financial need and repayment style. The Bajaj OD loan allows you to withdraw funds from an approved limit whenever needed, with interest charged only on the utilised amount for the exact number of days of using it. A traditional personal loan disburses a fixed amount on which interest accrues immediately
Whether a Bajaj Finance overdraft is good or bad depends on your financial requirements, eligibility, and usage pattern.
There are zero foreclosure charges applicable to the Bajaj OD loan.
Reshma Rawat is a passionate writer with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra and writes blogs & webpages on financial products (loans, credit cards, insurance, government financial policies, mutual funds, etc.).
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