Smart Liquidity: Pay Interest Strictly On Utilized Funds
Overdraft (OD) and Drop Line Overdraft (DOD) are versatile working capital credit limits linked to your business account. Unlike conventional term loans where interest is charged on the entire disbursed principal, with an OD limit you only pay interest on the exact amount you withdraw and for the exact duration of use.
From 9.50% p.a.
Up to ₹10 Crore
Daily Utilized Basis
OD & Drop Line OD
Understanding Standard OD vs Drop-Line OD (DOD)
Standard Overdraft (OD)
Offers a constant revolving credit limit renewable annually. Deposit funds anytime to reduce outstanding balance and interest; withdraw funds whenever required.
Drop-Line Overdraft (DOD)
The sanctioned withdrawal limit gradually drops each month according to a predetermined schedule, enabling systematic debt reduction without lump-sum repayment pressure.
Eligibility & Setup Documentation
Eligibility Criteria
- Established business, traders, wholesalers, service firms
- Minimum 2+ years of verified business turnover
- Healthy current account turnover history
Document Checklist
- KYC of Business & Promoters (PAN, GST, MOA/AOA)
- 2 Years Audited Balance Sheet & P&L Statement
- 12 Months Current Account Bank Statement
- Collateral Property Documents (if secured OD limit)
Set Up Your Overdraft Limit Today
Minimize interest costs and maintain maximum liquidity with Hailp Loan Services.
Apply For OD / DOD Limit