Kotak Bank Overdraft Loan

Kotak Bank’s overdraft loan is a special service exclusively offered to the bank’s account holders. Eligible customers can ideally withdraw money over their existing bank balance and use the funds for various types of financial requirements. These may include paying utility bills, unannounced medical emergencies, much-needed credit card payments, or any other unexpected expenses. Moreover, customers can secure funds ranging from ₹ 1 lakh to ₹ 40 lakh based on their account history and repayment capacity. To know more about this appealing financial option, continue scrolling. Hereunder, we provide details such as Kotak Bank overdraft interest rates, eligibility criteria, application process, and (almost) everything you need to know about Kotak Bank Insta Overdraft facility. 

Features of Personal Loan Overdraft Facility

Let’s take a look at the following features you can expect from the Kotak Bank Insta OD facility:

• Collateral free
• No prepayment charges
• Avail up to ₹ 40 lakh
• Interest is charged only on usage 
• Maximum tenure is 60 months
• Quick fund disbursement 

Kotak Bank Fees & Charges Overdraft Loan

Let’s examine the applicable fees and charges of the Kotak Bank Insta Overdraft facility: 

Who Is Eligible for an Overdraft in Kotak Bank?

Eligibility criteria for Kotak Bank Insta OD facility may vary based on your profile and the type of overdraft you wish to avail. However, the following are some common criteria for Kotak Bank overdraft loan eligibility:

• You must have a bank account from the Kotak Bank. 
• You must be either a salaried or self-employed individual. 
• You must be aged between 21 and 65 years old. 
• You must be an Indian citizen. 

Kotak Bank Documents Required for Loan Application

The following documents may be required to submit along with the Kotak Bank overdraft loan application: 

• KYC documents
• Proof of Residence
• PAN Card / Form 16
• Bank account statement
• Last 3 months’ salary slips

The Process to Avail Kotak Bank Overdraft Loan

You can easily apply for a Kotak Bank overdraft loan by visiting the official website of Urban Money. Alternatively, you can dial 1800 208 3344, and our dedicated loan specialists will guide you through the process until you receive the required loan amount.