SBI Overdraft Facility
SBI Loan Against Time Deposit, also known as SBI Overdraft facility, provides instant funds between ₹5,000 and ₹5 Crores to borrowers whenever they desire or need, be it a sudden vacation plan with family, urgent funds required for medical treatment, or any other purpose. The SBI overdraft interest rate is 1% above the relative time deposit rate.
SBI Overdraft Facility Details
The key details of the overdraft facility in SBI are listed below:
| Feature | Policy Details |
|---|---|
| Maximum Loan-to-Value (LTV) | Up to 95% of the underlying Time Deposit value |
| Minimum Loan Limit | ₹5,000 |
| Maximum Loan Limit | ₹5 Crores |
| Interest Rate | 1% markup over the associated Time Deposit rate |
| Repayment Tenure | 5 years (STDR/e-STDR) or 3 years (TDR/e-TDR) for online OD |
| Processing Fees | Nil (Zero charges) |
| Prepayment Penalties | Nil (No charges for early closure) |
| Primary Security | Lien marked on the underlying Time Deposit |
| Facility Type | Available as a Demand Loan or Overdraft |
| Application Channels | YONO App, Internet Banking, or any SBI Branch |
SBI Overdraft Interest Rates
The interest rates for an SBI Overdraft (OD) Facility vary significantly depending on the underlying security or the type of account you hold. The rates are generally linked to either the deposit rate or the External Benchmark Lending Rate (EBLR).
| Overdraft Type | Interest Rate (p.a.) | Basis of Calculation |
|---|---|---|
| OD Against Fixed Deposit (FD) | 1.00% above the FD rate | Linked to your specific FD's interest rate |
| OD Against Salary (Xpress Flexi) | 11.15% – 14.55% | Varies by employer category and salary variant |
| Home Loan Maxgain (OD) | 7.75% – 8.95% | Linked to EBLR and CIBIL score |
| OD Against Property (P-LAP) | 9.20% – 11.05% | Linked to EBLR and property type |
| Clean Overdraft (Unsecured) | 13.80% – 15.05% | Based on credit profile and account history |
| Pension Loan (Overdraft) | 11.40% – 11.90% | Fixed rate for pensioners |
Features of SBI Overdraft Features
The following are the key features of an overdraft account with SBI:
- You can avail of loans up to 95% of your Time Deposit's value.
- The minimum loan amount for Online Overdraft against Fixed Deposit is ₹5,000.
- The maximum loan amount for Online Overdraft against Fixed Deposit is ₹5 Crores.
- It is available as both a Demand Loan and an Overdraft Facility, as per your needs.
- The bank offers a low SBI OD interest rate, and the interest is charged on a daily reducing balance.
- There are no processing charges and prepayment penalties.
- Security as a lien on an underlying Time Deposit is required.
- The loan can be availed through multiple channels, including Internet Banking, YONO, and SBI branches.
- The interest rate for SBI Overdraft is 1% above the relevant time deposit rate.
- A suitable repayment schedule is fixed by the bank depending on the repayment capacity of the borrower for loans taken from branches.
- The maximum repayment tenure is capped at 5 years against STDR/e-STDR and 3 years against TDR/e-TDR for the SBI Overdraft facility salary account availed online.
SBI Overdraft Eligibility Criteria
Following are the eligibility criteria for SBI OD account:
- Customers (Single/Joint Account Holders) who are holding SBI’s TDR/ STDR/ RD/ including NRE/ NRO/ RFC and FCNR(B) Deposits are eligible to avail of this loan.
- Single Account Holders can also avail of SBI Overdraft loan against TDR and STDR online via the Internet Banking platform.
- Individual customers holding TDR/ STDR/ e-TDR/ e-STDR with SBI in the single name (Not Joint Account Holders) can avail of this facility online.
- Joint Account Holders can only avail of this facility at the SBI branches.
- At the branch level, an overdraft against FD SBI is also offered against the security of RD/ e-RD/ NRE/ NRO/ RFC and FCNR(B) Deposits.
Steps to Apply for the SBI OD
If you want to avail of an SBI overdraft apply online by following the steps mentioned below:
- Visit the official website of the bank, i.e., sbi.co.in, to apply for the SBI Overdraft facility for a salary account.
- Under the ‘Loans’ section, click on the ‘loan against securities’ option and then select ‘Loan Against Time Deposit’.
- Now, click on the ‘Apply Now’ button given on the left panel of your screen.
- You can either log in to your Personal Banking account or the YONO app to fill in the application form by entering all the required details.
- Once you submit your application, you will receive a call from SBI’s representatives regarding the completion of the application process.
- If you want an instant overdraft, the SBI YONO app is the best way to apply for this facility.
SBI Overdraft Facility FAQs
SBI Overdraft or SBI Loan against Time Deposit is a credit line facility offered by the State Bank of India (SBI) under which the borrower does not have to break their Fixed Deposit (FD) and has to pay the interest only on the utilized amount.
the SBI overdraft interest rate typically ranges from 7.50% to 14.55% p.a., depending on whether it is backed by a fixed deposit (1% above FD rate), a home loan (7.75%–8.95%), or a salary account (11.15%–14.55%).
To be eligible for an SBI salary account overdraft, you must have a Gold, Diamond, or Platinum category account with at least six consecutive months of salary credits and a minimum monthly net income of ₹25,000.
Yes, SBI provides overdraft facilities against both fixed deposits (up to 95% of the value) and property (through the Personal Loan Against Property or Maxgain schemes).
The maximum limit of SBI OD against FD, which can be availed online against your Fixed Deposit, is ₹5 Crores. However, there is no specific loan limit for loans at the SBI branches.
es, you can get an SBI overdraft facility without collateral through the Xpress Flexi scheme or the SBI Personal Loan (Overdraft), provided you are a salaried individual with a minimum monthly net income of ₹20,000–₹25,000.
The approval time for an SBI overdraft facility varies by type: it is instant for online applications against fixed deposits (via YONO or Net Banking), typically takes 2 to 3 days for salary-based overdrafts, and can take 8 to 12 days for property-backed facilities due to legal and technical verification.
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