Use & repay
any number of times, up to your sanctioned limit
Overdraft
Pay interest only on what you use.
An overdraft limit against your account. Use it, repay it, use it again, with interest only on the amount outstanding.
How an overdraft works
Use only what you need.
Interest on usage
charged only on the amount outstanding, not the full limit
Secured facility
backed by property, fixed deposits or other acceptable collateral
Renewed annually
reviewed each year rather than closed after a fixed tenure
Not sure how big a limit your business can get? We'll find out.
Share your bank statements and what you can offer as security, such as property or FDs. We'll tell you the limit and terms lenders are likely to offer.
How to get an overdraft
Four steps to your limit.
On a call or on WhatsApp: your last 6 months' bank statements, and what you can offer as security, such as property or FDs.
We compare lenders whose overdraft terms fit your cash flow and the security you're offering.
Forms, follow-ups, and coordination for the lender's valuation of your security.
Once sanctioned, the limit is set up on your account. Use it, repay it and use it again.
Overdraft FAQs
Questions you might have…
A term loan gives you the full amount upfront and you repay it in fixed EMIs, whether you need all of it or not. An overdraft gives you a sanctioned limit instead. You withdraw from it only when you need cash, repay as customer payments come in, and pay interest only on the amount you have used.
Usually property, fixed deposits or other security the lender accepts. What is accepted varies from bank to bank. Tell us what you can offer and we'll match it to lenders whose overdraft terms fit.
On the amount outstanding each day, usually debited to your account every month rather than charged upfront. Use more and interest goes up for those days; repay and it comes down straight away. You are never charged on the full sanctioned limit, only on what you have used.
It is sanctioned for a year and then comes up for renewal. Renewal is not automatic: the lender reviews your account every year before extending the limit.
Businesses whose cash flow goes up and down: seasonal working capital needs, customers who pay a few weeks late, a short gap you know will close. It suits a recurring need better than a one-time expense, which a term loan handles better.
We are paid a commission by the lender on a completed disbursal. Our fee structure is stated upfront and nothing is deducted without your sign-off first.
Ready when you are
Find out what limit your business can get.
Send us your bank statements and what you can offer as security. We'll come back with the limit and terms you qualify for.
Response within one working day.