| Facility | Overdraft in Saving Account. |
| Eligibility | - Salary account holders with the bank’s branch
- The customer should be in permanent employment with total minimum 1 year of Service, with Corporate concern of repute, Central Government / State Govt. Department / undertakings (including Government and Government Aided Educational Institutions) /Co-operative Societies.
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| Minimum Annual Income | Minimum Take Home salary of the applicant should be Rs.25000/-p.m. (average of last 3 months’ salary credited in the account) |
| Purpose | To meet personal needs of the customers who are salary earners. |
| Loan Quantum | 3 times of monthly take home salary or Rs. 3.00 lakh, whichever is lower |
| ROI | Click here to view the Interest Rate |
| Deduction | Should not exceed 60% of gross monthly salary |
| Security | Clean |
| Processing fee | 0.50% of the OD Amount per annum, subject to minimum Rs. 500/- p.a. |
| Others | - Eligible amount to be decided on the basis of last 3 months take home salary, repayment obligations, Regular credit of salary.
- In case of change in take home pay existing limit can be adjusted.
- Interest on credit balance if limit is not availed. Interest on debit balance be charged on monthly basis.
- An irrevocable written mandate by borrower to employer to route all payments/salary & allowances due to him including terminal benefits through the account maintained with the bank, and a confirmation from the employer that the mandate shall be complied with.
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