Personal Loan Overdraft
A Personal Loan Overdraft allows you to withdraw an amount at any time, and repay it as per your convenience. This makes it the most preferred credit option to meet various types of personal funding requirements, without any limit.
Features of Personal Loan Overdraft
- Instant access to cash – Anytime, Anywhere.
From planning a big event to facing an unexpected expense, you always have access to funds in your account.
- Use as you choose - Pay as you use
You can use, and pay back as per your convenience. The Interest will be charged only as per your utilization.
- Direct Withdrawals/Paybacks
Manage the withdrawals and paybacks from your bank account itself.
- Flexible Limit
1 year fixed limit & drop line limit thereafter. Depending on the limit and tenure offered.
Loan Amount
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Rs. 100000 - Rs. 4000000
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Tenure
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Upto 60 months
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IRR
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12.75% onwards
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Advantages:
- Simple Documentation
- Multiple withdrawals via online transactions
- Transfer Funds across Kotak and Non Kotak Accounts
- Order for Demand Drafts
- Pay Utility Bills, Credit Card Bills, etc.
Documents Required:
Salary Slips
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Last 3 months salary slips
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Income Proof
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Bank Statement
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Photo identity Proof
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Voter ID/Passport/Driving License/Aadhaar Card
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Proof of Residence
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Passport, Driving License, Voter ID Card issued by Election Commission of India
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How to apply:
Step 1: Fill the details in our Online Form.
Step 2: Select your required loan amount and tenure & get instant approval.
Step 3: Our representative will get in touch for document collection.
Step 4: We will open your Overdraft account and load limit. Once the limit is loaded, you can use it anytime.
You can withdraw the funds whenever you need and transfer them to your bank account within 2 hours.
