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Apply for Personal Overdraft | Instant Personal Overdraft

Apply For Personal Overdraft

Collateral-free personal overdraft with lowest interest rate is just a few clicks away from you. Apply personal overdraft online and fulfill your dreams without worrying about money. The term personal overdraft has emerged as a boon for individuals seeking quick and hassle free access to funds. Personal overdraft is a financial tool that offers unparalleled flexibility and convenience to borrowers. Unlike traditional loans, a personal overdraft is unsecured, meaning you don't have to provide any collateral to secure it.

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  • Fill in the Form

    Apply online with basic details and minimum documentation.

  • Get Instant Approval

    We will verify the documents and approval with the best offer.

  • Get Instant Disbursal

    The amount will be disbursed to the borrower of loan instantly.

Features & Benefits of Personal Overdraft

No Collateral Required

Personal overdraft don't require collateral, as it is an unsecured loan making them accessible and removes the risk of losing assets in case of default.

Flexibility in Usage

Personal overdraft offer flexibility in how the funds can be used. Borrowers can utilize the loan for various purposes such as debt consolidation, home improvement, medical expenses, etc.

Customizable Tenure Period

Borrowers can choose a repayment tenure that suits their financial situation. Longer tenures may result in lower monthly payments, while shorter tenures may reduce the interest rate.

Quick Approval

Personal overdraft have a quick approval process. Online application options and instant approval systems help borrowers receive funds quickly.

Minimal Documentation

Personal overdraft usually require minimal documentation. Basic identification and income proof are the major requirements.

Fast Disbursement

Once approved, personal overdraft offer quick disbursal of funds, which is beneficial in emergencies or urgent financial needs.

  • Eligibility Criteria

    To apply for a personal overdraft

    • Your monthly salary should be ₹25,000.
    • Your Intrest rates 10.25% upto 50 lakhs.
    • Your Tenure should be 12 to 48 months.
    • You need to be a minimum 21 years age.
    • Your CIBIL score should be 700 or higher.
    Apply Personal Overdraft

  • Fees and Charges

    While the fees and charges of personal overdraft usually vary widely depending on lender and the credit profile of the loan applicants, the following table will give you a fair idea of the personal loan fees and charges levied by the lenders:

    • Loan Processing Fees : 0.5% to 4% of loan amount
    • Pre-payment/Part-payment/Foreclosure Charges: For Floating Rate: Nil
      For Fixed Rate: Usually around 2% - 5% on the principle outstanding
    • Stamp Duty Charges: As per actuals
    • Legal Fees: As per actuals
    • EMI/Cheque Bounce: Around Rs 400 per bounce
    Apply Personal Overdraft

  • Documents Required

    To apply for a personal overdraft

    • Address Proof (Aadhar Card, Voter ID, Driving License, etc)
    • Identification Proof (PAN Card, Aadhar Card, Voter ID, etc)
    • Bank statement for last 3 months (Same salary account)
    • Latest salary slips for the 3 months from the employer.
    • Submit recent passport size photo
    Apply Personal Overdraft

Get Instant Personal Overdraft

Apply for a personal overdraft loan online and get an instant personal overdraft from Rupeeu

Benefits of Personal Overdraft

With Rupeeu Personal overdraft you can say goodbye to lengthy approval processes and mountains of paperwork. Our application process ensures that you can get the funds you need when you need them, without the unnecessary delays. We are committed to providing you with the best financial solutions. Borrowers can choose a repayment tenure that suits their financial situation. Longer tenures may result in lower monthly payments, while shorter tenures may reduce the interest rate.

Apply Personal Overdraft
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Personal Overdraft
With Best Interest Rate

100%
Digital
Process

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Interest Per Annum

Get access to the offers from 20+ partner banks and NBFCs, allowing you to check and compare personal overdraft options very conveniently.

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Factors affecting Personal Overdraft Interest Rate

There are many factors which determine the interest rate of your personal overdraft:

  • Credit History

    The key factor which plays crucial role in the approval of personal overdraft. Credit history not only determines your eligibility but along with it also affects the interest rate. High credit scores help in building the lender's trust in the borrower’s financial behaviour.

  • Monthly Income

    People with higher income usually have higher potential for repayment of loan so people with higher income receive the loan with lowest interest rate.

  • Repayment History

    The borrower will track the record of your repayments of your debts according to your interest rate. A consistency and timely repayment history of your loan results in the lower interest rate, demonstrating reliability to lenders.

  • Status of Employer

    Interest rate depends on this factor too. In which company you are working with, the reputation and financial stability of the employer plays a vital role over here as it signifies the reliability and potentially impact the interest rate of the borrower.

  • Bank Relations

    Long standing and positive relation with the bank lead to preferential rates or more flexible terms for the borrower and impact the interest rate of loan.

  • Salary Type

    Salary on account matters, if getting salary on cash it was very less chance for loan, if getting salary on bank account directly by employeer is more chance of get loan.

Personal Overdraft Required Documents

Basic documents required for applying a personal overdraft.

Adhaar Card
is Address Proof

PAN Card
is ID Proof

For Salaried

For Self-Employed

Address Proof
Adhaar Card

Signature Proof
PAN Card

Questions & Answers

Find answers to all your queries about our financial services.

Help You to Find

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  • Bank is providing the cheapest Personal Loan?

    HDFC is providing the cheapest Personal Loan in India starting at an interest rate of ...

  • What is the Interest Rate for Personal Loan?

    Personal loan with lowest interest rate is available, the interest rate for the personal loan ...

  • What is the process of Personal Loan?

    Get fast approval personal loan through My Mudra. Borrowers can get their documentation done online ...

  • What is the Eligibility Criteria for Personal Loan?

    A Person having minimum salary of Rs.25,000 with a CIBIL Score of more than 700 ...

  • Is Personal Loan Secured or Unsecured Loan?

    Personal Loan is an unsecured loan because it does not require any collateral or security.

Didn’t get, Click below button to more answers or contact us.

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