Overdraft (Od) Limit

When a businessman requires fund for his business, he has two options either to opt for long term funding from bank or NBFC by taking loan against property or term loan against property or to opt for short term funding usually for one year by taking overdraft limit (OD Limit) or cash credit limit (CC Limit). Long term funding like loan against property carries lower rate of interest in comparison to short term funding like OD Limit or overdraft limit. However borrower can save interest on OD limit by depositing extra money in the overdraft account and thus paying interest only for amount utilized.

Documents Required

Documents required for over draft limit depends upon the type of employment of an individual. Documents required for different types of employment are as follows:

  • Pan Card & Aadhar Card With Photo
  • Office Id Card
  • 3 Months Salary Slip
  • 6 Months Bank Statement
  • 2 Years Form No. 16.
  • It is best to borrow in the most informed manner possible. Borrowers may have doubts or misconceptions or looking for more information about certain aspects of borrowing. Here are answers to the most Frequently Asked Questions (FAQs) about the HLS Personal Loan

  • Type of home loan depends upon types of property, an individual want to purchase. As per the need of the customer banks or financial institution come up with different types of home loan finance company in Delhi NCR products at lower rate of interest. As per the need of the customer bank or financial institution provides different types of home loan. Each housing loan product has its unique feature and advantage, so it is always advisable to consult with a professional consultant before taking a home loan.

  • Home Loan is an agreement between borrower and the lender (bank or NBFC) that regulates the term of loan. Home loan agents in Delhi provide you a list of options. Loan eligibility criteria for almost all the banks are different but there are some common loan eligibility criteria which borrower has to fulfill to avail home loan from bank or NBFC.