Overdraft Loan @ Affordable Interest Rate

Get Instant Access to Funds with a Personal Loan Overdraft

What is a Personal Loan Overdraft Facility?

A personal Loan Overdraft allows the customers to withdraw funds as per requirement, and pay interest only on the used amount for the utilization period. This option is handy for meeting pressing needs or managing unexpected expenses. The Overdraft facility is available for salaried individuals. A Personal Loan Overdraft guarantees you have immediate access to funds without the higher costs typically associated with other loans.

Features and Advantages of a Personal Loan Overdraft:

Opting for a Personal Loan Overdraft for salaried individuals comes with numerous benefits. Here’s how Personal Loan Overdrafts make managing finances flexible and convenient:

Loan Amount	Rs. 1,00,000 – Rs. 20,00,000
Tenure	Upto 72 months
IRR	13.50% onwards

Pay as per use: This facility allows you to pay interest only on the utilized amount instead of paying interest on the entire sanction limit.
Simple Documentation: The documents required for a Personal Loan overdraft are typically straightforward and easy to provide.
Multiple withdrawals via online transactions: Access funds online to meet an array of personal expenses, as many times as needed.
Transfer Funds across Accounts: Enjoy the freedom to transfer funds seamlessly across both Kotak and non-Kotak accounts.
Pay All Bills: Use the funds to pay utility bills, credit card bills to manage various payments seamlessly.

Eligibility for Personal Loan Overdraft

Eligibility for a Personal Loan Overdraft is generally based on your financial history and existing relationship with the lender. It involves meeting specific criteria that confirm your capability to manage and repay the borrowed funds. Here's a detailed look at these requirements:

Broad Eligibility criteria are as follows:

Eligibility Criteria	Requirement
Age	Individuals aged between 21 and 58 years are eligible
CIBIL score	Required CIBIL score of >=730
Minimum monthly income	Minimum Take home salary of Rs. 50,000 for Kotak salary account holders, Rs. 1,00,000 for Non-Kotak salary account holders from tier 1 cities and Rs. 75,000 for Non-Kotak salary account holders from non-tier 1 cities
Employer and Risk Evaluation	Other than the above mentioned criteria, customer’s employer category and overall risk profile is evaluated

List of Documents Required for Personal Loan Overdraft

The documentation process for a Personal Loan Overdraft is relatively simple:

Please find below the list of documents required:

ID and Address proof
PAN Card
Pay Slip for last 2 months
Bank Statement of primary account for last 3 complete months

You can withdraw Personal Loan Overdraft funds whenever you need and transfer them to your bank account within 2 hours. This hassle-free online procedure to apply for a Personal Loan overdraft ensures immediate financial support is available whenever you need it.

Get Instant Access to Funds with a Personal Loan Overdraft

What is a Personal Loan Overdraft Facility?

Features and Advantages of a Personal Loan Overdraft:

Eligibility for Personal Loan Overdraft

List of Documents Required for Personal Loan Overdraft

Get Personal Loan near your locations

Get Personal Loan for Different Budgets

New to bank customers

Existing to bank customers