The reputed private sector bank HDFC offers the HDFC Overdraft facility to its salaried customers which can be activated in just 3 steps. It is convenient to draw your pre-approved limit at any time and from anywhere. You just pay minimal interest only on the amount used and duration for which you use the funds in flexible tenure.
The key details of overdraft facility in HDFC are listed below:
|Limit||Up to 3 times salary, limited to Rs. 25,000 to Rs. 1.25 Lakhs|
|Interest rate||15% to 18% p.a.|
|Processing fee||Up to Rs. 1,500|
|Renewal fee||Rs. 250 + applicable levies & taxes|
|Overdue penal interest||2% per month on overdue|
HDFC OD account is an overdraft account wherein you get a pre-approved credit line which can be activated instantly. With Salary Plus, you no longer need to worry about missing your EMI payments, sudden medical bills, cheque bounces, or cutting down on expenses due to the unavailability of funds in your account. You can avail overdraft limit of up to Rs 1.25 Lakhs and pay interest only on the amount utilized and the duration of utilization. For instance, you can utilize Rs. 1 Lakh at an interest of just Rs. 41.09 per day. You don’t require any documents to avail of this facility and it guarantees money in your account in seconds. Salary Plus facility is extended to all HDFC Bank Salary Account holders based on their eligibility and credit history.
Also Check: HDFC Credit Score
HDFC Overdraft interest rate ranges from 15% to18% p.a. Additional government taxes and other charges as applicable will be levied over and above the rate. You have to pay interest only on the amount used and for the duration of utilization.
Following are the HDFC overdraft eligibility criteria:
HDFC Overdraft against 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.
Here are some attractive features of HDFC OD against FD:
Also Check: Commercial Cibil Report
Open HDFC Bank overdraft facility for salary account and get up to 3 times your salary as an overdraft limit, subject to a minimum of Rs. 25,000 and maximum Rs. 1.25 Lakhs. If you hold a Salary Account with HDFC Bank you can get access to Salary Plus with a pre-approved credit line that can be activated instantly. The facility helps you with EMI payments, cheque bounces, sudden medical expenses and other financial needs. You can pay interest only on the amount used and the duration of utilization, which means you can utilize Rs. 1 Lakh at a small interest of just Rs. 41.09 per day. The facility can be activated easily and requires no documents. It also guarantees money in your account in seconds. The Salary Plus facility is available to all HDFC Bank Salary Account holders based on their eligibility and credit history.
You can set the overdraft facility HDFC in just 10 seconds.
You can get up to 3 times your salary as an overdraft limit in HDFC Bank, subject to a minimum of Rs. 25,000 and maximum up to Rs. 1.25 Lakhs.
The current HDFC Bank OD interest rate ranges from 15% to 18% p.a.
HDFC overdraft facility is extended to all HDFC Bank Salary Account customers basis their eligibility and credit history.