IndusInd Bank Overdraft Facility

IndusInd Bank Overdraft Facility is a type of loan facility that allows customers to borrow money against securities like Shares, Mutual Fund Schemes/Units and Bonds. This facility is available for both individuals and businesses and can be availed through a current account. The overdraft limit is determined by the bank based on factors such as credit score, income, and repayment history. IndusInd offers IndusInd Bank overdraft interest rate starting from 11.25% p.a. and a minor processing fee on the sanctioned limit. The minimum IndusInd Bank overdraft loan limit is Rs. 2 lakh, and it can go up to Rs. 50 crore, subject to eligibility criteria and type of security.

Features of Personal Loan Overdraft Facility

Here are the features of the IndusInd Bank Overdraft Facility.

• Higher Loan Amount against securities like Shares, Mutual Fund Schemes/Units and Bonds.
• Single Scrip Lending.
• No Prepayment Charges.
• Third-Party DP Securities accepted.
• No Penalty Charges on non-usage of funds.

IndusInd Bank Fees & Charges Overdraft Loan

Here are the fees and charges associated with the IndusInd Bank Overdraft Facility.

Who is eligible for overdraft in IndusInd Bank?

While both individuals and non-individuals can apply for an IndusInd Bank overdraft loan, the IndusInd Bank overdraft loan eligibilty criteria for each category is different. Here is the eligibility criteria for each category.

Individual

• Indian Residents
• Age between 18 to 70 years
• Holding approved securities

Non-individual

• Indian Entities
• Loan only against approved Debt Mutual Funds and Bonds

IndusInd Bank Documents Required for Loan Application

Here is a list of IndusInd Bank overdraft loan document requirements that individuals and non-individuals must submit for approval.

Process to avail IndusInd Bank Overdraft loan

Induslnd provides a very easy process to apply for the IndusInd Bank overdraft loan.

• Select your application category – Individual or Entity.
• Auto-fill your details by login through registered Mobile Number, Net Banking, or Aadhaar Number.
• Verify your details as per PAN Card and Aadhaar Number.
• Enter your portfolio details to get your provisional sanction letter.

Once your details are comfirmed by Induslnd, a sales representative will contact you to assist you in setting up of an overdraft account.