CC / OD Loan

Overdraft Loans in Rajkot: Compare Interest Rates, Eligibility, and Features

An overdraft (OD) loan is a short-term credit facility that allows you to withdraw more money than what is available in your current account. It can be useful for managing urgent or unexpected expenses like medical emergencies or car repairs. For more details, you can reach out to our financial consultants.


How Do Overdraft Loans Work?

When your account balance goes below zero, instead of paying overdraft penalties, an overdraft loan allows you to borrow the required amount from the bank. You then repay this amount along with interest over a specific period.

Interest Rates and Charges

Please note: Overdraft loan interest rates in Rajkot are typically higher than those of regular personal loans or credit cards.
As per investor feedback, the interest rates on OD loans may be higher than those offered through PL (personal loan) channels. Always compare offers carefully.

Interest rates depend on various factors such as your credit score, repayment history, and the lender's policy. In addition to interest, you may also be charged processing fees, maintenance fees, or other applicable charges.

Eligibility Criteria

To qualify for an overdraft loan, you generally need to meet the following conditions:

  1. A stable income source
  2. A decent credit score
  3. An active current or savings account with the lending bank

Some financial institutions may have additional requirements.


Features of Overdraft Loans in Rajkot

Overdraft loans offered in Rajkot come with a range of features, such as:

  • Flexible repayment options

  • Grace periods during which no interest is charged

  • Overdraft protection to avoid penalties by automatically transferring funds from a linked account

One solution for all your financial concerns!

Inquire today and get expert guidance.