Find the Right Overdraft Facility for Your Needs
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Loan Eligibility & EMI Calculator
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Repayment ledger
Monthly EMI
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Total Interest
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Total Payment
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Eligibility Criteria
Every lender sets its own rules, but most applicants are checked against the same broad set of criteria. Hover a card to see the details.
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Overdraft Facility FAQs & Insights
Who is eligible for a bank overdraft?
Salaried individuals with stable income, self-employed professionals, and business owners with at least 2 years of operating history are generally eligible. Lenders typically look for a CIBIL score of 700+, regular bank statements, and either a fixed deposit, property, or strong income profile to back the facility.
Read the full answerWhat is the difference between a salaried and business overdraft?
A salaried overdraft is typically offered against your salary account with a limit based on income, while a business overdraft can be secured against property, stock, or receivables and generally allows a higher limit.
Read the full answerIs collateral required for an overdraft facility?
Not always. Salaried individuals can often get an unsecured overdraft, while higher-limit business overdrafts are usually secured against property or other assets.
Read the full answerWhat is the interest rate on an overdraft facility, and is it paid monthly?
There's no fixed EMI on an overdraft. Interest is charged only on the amount you actually utilize — not the full sanctioned limit — calculated daily and typically debited monthly. You can deposit funds anytime to reduce the utilized balance and interest owed. Rates vary by bank and applicant profile — Finolink helps you compare rates across lenders before applying.
Read the full answerHow do I check my overdraft eligibility and maximum limit?
Use the eligibility calculator on this page — enter your monthly income, CIBIL score, and existing EMI obligations to get an instant estimate. Your actual limit depends on your monthly salary or turnover, employer/business category, and existing obligations. Finolink compares OD offers across top banks to find you the highest eligible limit at the lowest rate.
Read the full answerHow do I get a bank overdraft facility through Finolink?
Share your income and banking documents with Finolink, we match you against suitable lenders, you select an offer, complete the lender's verification, and the OD limit is sanctioned and linked to your account — usually within a few working days.
Read the full answerWhich bank gives overdraft facility for self-employed individuals?
Several banks and NBFCs offer overdraft facilities for self-employed individuals, typically secured against property or business turnover — Finolink helps identify the best fit based on your profile.
Read the full answerWhat is the highest overdraft limit I can get?
Overdraft limits depend on your income, turnover, or the value of collateral offered. Secured OD against property or large fixed deposits can run into several crores, while unsecured OD for salaried individuals is typically capped at a multiple of monthly income.
Read the full answerOverdraft vs Cash Credit
Overdraft
Personal or business short-term liquidity
Cash Credit
Business working capital, usually tied to inventory/stock
Primary use
Overdraft
Salaried individuals, self-employed, businesses
Cash Credit
Businesses only
Offered to
Overdraft
Can be secured (property/FD) or unsecured (salary)
Cash Credit
Usually secured against stock, receivables, or inventory
Security
Overdraft
Income, turnover, or collateral value
Cash Credit
Value of stock/inventory pledged, reviewed periodically
Limit basis
Overdraft
Amount utilized, calculated daily
Cash Credit
Amount utilized, calculated daily
Interest charged on
Overdraft
Typically annual
Cash Credit
Typically annual, with periodic stock audits
Renewal
Secured vs Unsecured Overdraft
Secured OD
Yes — property, FD, or other asset
Unsecured OD
No
Collateral required
Secured OD
Higher — can run into crores against property
Unsecured OD
Lower — usually a multiple of monthly salary
Typical limit
Secured OD
Generally lower, reflects reduced lender risk
Unsecured OD
Generally higher, reflects higher lender risk
Interest rate
Secured OD
Slower — requires asset valuation/verification
Unsecured OD
Faster — especially for existing salary account holders
Approval speed
Secured OD
Larger limits, business use, property owners
Unsecured OD
Salaried individuals needing quick, smaller limits
Best suited for
Overdraft vs Personal Loan
Overdraft
Sanctioned limit, draw as needed
Personal Loan
Full amount disbursed upfront
Disbursal
Overdraft
Only the amount utilized
Personal Loan
Full loan amount, from day one
Interest charged on
Overdraft
No fixed EMI — repay and redraw flexibly
Personal Loan
Fixed EMI over a set tenure
Repayment
Overdraft
Recurring or unpredictable short-term cash flow needs
Personal Loan
One-time, defined expenses
Best for
Overdraft
No prepayment penalty on unused limit
Personal Loan
May carry prepayment charges depending on lender
Prepayment
What people say when the process just works
Real customers, real quotes — no manufactured superlatives.
Frequently asked questions
Common questions
Who is eligible for a bank overdraft?
Salaried individuals with stable income, self-employed professionals, and business owners with at least 2 years of operating history are generally eligible. Lenders typically look for a CIBIL score of 700+, regular bank statements, and either a fixed deposit, property, or strong income profile to back the facility.
What is the difference between a salaried and business overdraft?
A salaried overdraft is typically offered against your salary account with a limit based on income, while a business overdraft can be secured against property, stock, or receivables and generally allows a higher limit.
Is collateral required for an overdraft facility?
Not always. Salaried individuals can often get an unsecured overdraft, while higher-limit business overdrafts are usually secured against property or other assets.
More questions
What is the interest rate on an overdraft facility, and is it paid monthly?
There's no fixed EMI on an overdraft. Interest is charged only on the amount you actually utilize — not the full sanctioned limit — calculated daily and typically debited monthly. You can deposit funds anytime to reduce the utilized balance and interest owed. Rates vary by bank and applicant profile — Finolink helps you compare rates across lenders before applying.
How do I check my overdraft eligibility and maximum limit?
Use the eligibility calculator on this page — enter your monthly income, CIBIL score, and existing EMI obligations to get an instant estimate. Your actual limit depends on your monthly salary or turnover, employer/business category, and existing obligations. Finolink compares OD offers across top banks to find you the highest eligible limit at the lowest rate.
How do I get a bank overdraft facility through Finolink?
Share your income and banking documents with Finolink, we match you against suitable lenders, you select an offer, complete the lender's verification, and the OD limit is sanctioned and linked to your account — usually within a few working days.
Good to know
Which bank gives overdraft facility for self-employed individuals?
Several banks and NBFCs offer overdraft facilities for self-employed individuals, typically secured against property or business turnover — Finolink helps identify the best fit based on your profile.
What is the highest overdraft limit I can get?
Overdraft limits depend on your income, turnover, or the value of collateral offered. Secured OD against property or large fixed deposits can run into several crores, while unsecured OD for salaried individuals is typically capped at a multiple of monthly income.
Which bank is best for an overdraft facility?
There's no single best bank for everyone — the right choice depends on whether you want a secured or unsecured OD, your income type, and your existing relationship with a bank. Finolink compares rates and limits across partner lenders so you get the most suitable option, not just the first one offered.