HDFC Overdraft Facility

The key details of the overdraft facility at HDFC are listed below:

• Interest is applied only to the utilised amount and not the total sanctioned limit.
• No fixed monthly EMIs have to be paid. You service only the monthly interest on withdrawn funds.
• Limits range up to ₹2 crore, depending on the loan type and your need.
• Many overdraft variants require zero collateral pledging.
• Extended for 12 months tenure with nil annual renewal fees, subject to eligibility. 

GST Overdraft (Collateral Free) 

• Processing fees: Up to 1% + taxes of the facility amount or ₹7,500 + taxes, whichever is higher.
• Non-refundable legal & valuation expenses: ₹5,000 + taxes. 
• Renewal fees: Up to 1% + taxes of facility amount.
• Default interest: HDFC OD interest rate of 18% p.a. for overdue/ default in CC/OD accounts.
• Service Tax & other Government taxes: Applicable as per prevailing rate.

Dukandar Overdraft Facility

• Processing fees: Up to 1% + taxes of the facility amount or ₹7,500 + taxes, whichever is higher.
• Non-refundable legal & valuation expenses: ₹5,000 + taxes. 
• Renewal fees: Up to 1% + taxes of facility amount.
• Default interest: 18% p.a. for overdue/ default in CC/OD accounts.
• Service Tax & other Government taxes: Applicable as per prevailing rate.

HDFC Overdraft Against Fixed Deposits

• When withdrawing funds from HDFC OD account, an additional 2% above the Fixed Deposit rate is applied for the duration the money is utilised.

Instant Salary Plus Overdraft

• Interest rate on utilisation of HDFC OD loan: 16% - 18% p.a.  
• Limit processing charges: Up to ₹1,999. 
• Stamp Duty & other statutory charges: As per the state law. 
• Legal/ incidental charge: At actuals.
• Amount utilised above the operating limit: 24% p.a. interest rate.

1. GST Overdraft (Collateral Free)

HDFC GST Overdraft is an overdraft facility secured against filed GST returns. This GST-based loan is available to businesses, giving them access to funds up to a set limit, with interest charged only on the amount used, not the entire limit. 

Key Features:

• Collateral-free overdraft funding up to ₹2 crore. 
• Credit limit based on GST returns filed. 
• No financials needed.
• Simple documentation with instant approval.
• Interest is charged on the utilised amount only, and not on the full limit.
• Processing fees up to 1% of the facility amount or ₹7,500 + taxes, whichever is higher, are levied.

2. Dukandar Overdraft Facility

The Dukandar Overdraft Facility provides quick and flexible access to funds to small businesses when they need it most, supporting their working capital requirements and helping them manage cash flow gaps, seize growth opportunities, and navigate unexpected expenses.

Key Features:

• Collateral-free funds up to ₹10 Lakhs for business growth and easy cash flow management.
• Minimum documentation required.
• Zero commitment charges.
• Facility for auto-renewals or opt-out anytime, as per your business needs. 
• Interest is charged only on the amount utilised from the overdraft facility.
• No need to submit regular stock statements. 
• Pay only 50 paise per day as interest per ₹1,000 availed. 

3. HDFC Overdraft Against Fixed Deposits

HDFC Overdraft against Fixed Deposits (FD)is another form of overdraft facility extended by HDFC Bank that is offered against the fixed deposit (FD). With this facility, you can fulfil your urgent household or business financial needs without breaking your FD.

Key Features:

• Instant loans up to 90% of the overdraft on your FD without the need to break your FD.
• To avail of this facility, you must have a minimum FD amount of ₹25,000 for a tenure of a minimum of 6 months and 1 day. 
• You can avail of Overdraft against FD or Super Saver facility on fixed deposit held in a single name instantly through NetBanking. 
• Facility to alter deposit period, maturity, payment instructions and rollover mode before maturity of the rollover deposit. 
• Repay with interest only on the withdrawn amount, while your remaining FD continues to earn you interest.
• You can link your Fixed Deposit with your Savings Account or a Current Account.
• Cancellation of this HDFC Bank overdraft facility against your FD is available via NetBanking.
• The Overdraft limit can be used through NEFT, RTGS & fund transfe₹

4. Instant Salary Plus Overdraft 

With Overdraft on Salary, you can access an overdraft limit of up to ₹5 Lakhs against your salary and pay interest only on the amount utilised for the duration of its use. 

• Interest is paid only on the utilised amount.
• Payment can be done via fund transfer/ net banking
• Credit-line amount up to 3 times your salary (maximum ₹5 Lakhs), subject to meeting eligibility and the bank policy and appraisal norms.
• Tenure of one year (12 months). 
• The limit can be renewed after 12 months, subject to meeting the bank policy and appraisal norms. 
• HDFC Bank OD interest rate on utilisation is between 16% and 18% p.a.
• Limit processing charges are levied up to ₹1,999.

Below are the HDFC Overdraft eligibility criteria:

1. GST Overdraft (Collateral-Free)

• Available to micro & small businesses.
• Must hold a valid Udyam Registration Certificate.
• Business should be operational for at least 3 years.
• Must have GST returns filed for the last 36 months.

2. Dukandar Overdraft Facility

• Available to shopkeepers, retailers, kirana stores, traders, and similar small businesses.
• You can apply with an HDFC or any other bank account. 
• Must submit bank statements for the last 6 months.
• Your business must have an operating history of at least 3 years.
• Must hold a valid Udyam Registration Certificate.

3. HDFC Overdraft Against Fixed Deposits

• To avail of this facility, you must have a minimum FD amount of ₹25,000 for a tenure of a minimum of 6 months and 1 day.  
• You must be a resident individual or Hindu Undivided Family or Private & Public limited company.
• Only resident Indian senior citizens/ retired personnel aged above 60 years are eligible for the Senior Citizen rate on the INR fixed deposit. 

4. Instant Salary Plus Overdraft

• It is a pre-approved offer. The eligibility and limit value are subject to meeting the bank's policy and appraisal norms.

To apply for the HDFC Overdraft Facility, you must submit the following documents: 

• Proof of identity: Aadhaar Card and PAN Card.
• Proof of address: Latest Utility Bill and Passport.
• Proof of income: Latest Salary Slips (for salaried individuals) and Income Tax Returns (for self-employed individuals)

You can set up the HDFC overdraft facility in just 10 seconds.

• Eligible Customers are given a pre-approved Overdraft offer via their net Banking.
• This offer is reflected under the “Offer” tab in HDFC Bank Netbanking.
• You have to activate it by clicking and accepting the Terms & Conditions online to avail the facility.
• The OD limit will be set within just 10 seconds.
• The value of this limit is based on your eligibility and credit history.