Overdraft Loan – Smart Borrowing with Full Freedom | Grow Rupiz
Sometimes, you do not need a big loan. You just need some extra money for a short time—to handle monthly bills, stock for your business, or emergency needs. That is where an Overdraft Loan comes in. At Grow Rupiz, we do not provide loans directly—but we help you get the best overdraft loan from top banks and NBFCs, with low interest, simple paperwork, and fast approval.
What is an Overdraft Loan?
An Overdraft Loan is a credit facility where your bank allows you to spend more money than you have in your account—up to a fixed limit. Let’s say you have Rs. 5,000 in your account, and your bank gives you an overdraft limit of Rs. 50,000. You can use up to Rs. 55,000 anytime. You only pay interest on the amount you use—not on the whole limit.
Example to Understand
Suppose you got an overdraft limit of Rs. 1,00,000.
- In the first month, you used Rs. 30,000.
- You pay interest only on Rs. 30,000.
- After repaying Rs. 20,000, you can again use the limit, anytime.
It is like having extra money in your account when you need it.
Key Features of Overdraft Loan
- Use Only What You Need: You do not borrow the full amount—just take what you need.
- Interest Only on Used Amount: No need to pay interest on the full limit. You pay only for what you use.
- No Fixed EMI: You can repay as per your comfort. Some lenders allow flexible repayment.
- Quick and Easy: Most overdraft loans are processed faster than regular loans.
- One-Time Approval: Once the overdraft is set up, you can use it again and again—like a safety net.
Who Can Take an Overdraft Loan?
An Overdraft Loan is good for:
- Business owners who need working capital
- Salaried people with urgent cash needs
- Freelancers with irregular income
- Anyone looking for short-term funds
It is perfect for:
- Paying salaries
- Buying stock
- Paying rent
- Handling unexpected bills
- Managing cash gaps
Types of Overdraft Loans
We help customers get different types of overdraft loans:
- Overdraft Against Salary Account: Your employer’s bank gives an overdraft based on your monthly salary.
- Overdraft Against Fixed Deposit (FD): You get a loan up to 90% of your FD amount.
- Overdraft Against Property: You keep your property as security and get a credit line.
- Overdraft for Businesses: Great for traders, shop owners, and MSMEs for day-to-day needs.
We will guide you on the best type based on your profile.
How Grow Rupiz Helps You
At Grow Rupiz, we do not lend money. We guide you to the best lenders and simplify the whole process. Here is how we help:
Step 1: Understand Your Needs
We listen to what you need and how much you need it for.
Step 2: Compare Loan Offers
We check various banks and NBFCs for the best overdraft offers.
Step 3: Prepare Your Profile
We prepare your documents and financial info for approval.
Step 4: Connect with Bank/NBFC
We speak to the right lender for you and handle your application.
Step 5: Follow-up Till You Get the Loan
We support you throughout the process—until you get your overdraft limit set.
Overdraft Loan vs. Personal Loan
| Feature | Personal Loan | Overdraft Loan |
| Loan Type | Fixed amount | Credit limit (use anytime) |
| Interest | On full loan | Only on used amount |
| EMI | Fixed EMI | Flexible repayment |
| Use Again After Repayment | No | Yes (reusable limit) |
| Good for | One-time big need | Frequent small needs |
Document Needed for Overdraft Loan
For Salaried People
- Aadhaar Card, PAN Card
- Salary slips (last 3–6 months)
- Bank statement
- Company ID card (optional)
For Self-Employed or Business Owners
- Aadhaar, PAN, Address proof
- Business registration
- GST/ITR/Bank statements
We will help you collect and submit everything.
Eligibility for Overdraft Loan
Every lender has different rules, but common ones are:
- Age: 21 to 60 years
- Monthly Income: Rs. 20,000+
- Business Age: 1 year+ (if self-employed)
- CIBIL Score: 650+ (but some lenders allow low CIBIL too)
Not sure if you qualify? Just talk to us—we may still help you.
Benefits of Getting Overdraft Loan Through Grow Rupiz
- We connect you to trusted lenders
- You get the best interest rate and terms
- Zero hidden charges
- Full support until loan is disbursed
- Based in Delhi, helping customers all over India
Tips to Use Overdraft Loan Wisely
- Do not overuse your limit. Use only what’s needed
- Try to repay as early as possible to save interest
- Keep track of your usage and statements
- Avoid bouncing payments—it can affect your credit score
- Use it for needs, not for luxury shopping
Why Choose Grow Rupiz?
At Grow Rupiz, we are not here to just “sell loans.” We care about your financial health.
- Friendly Experts: We explain everything in simple words. No jargon.
- Zero Pressure: We do not force you to take any loan. You decide.
- Lender Network: We are connected to many banks and NBFCs.
- Personal Support: One dedicated expert handles your case from start to finish.
Overdraft Loan FAQs
Q: Can I apply with low CIBIL score?
Yes. We work with lenders who may still approve it, depending on your income and other details.
Q: Can I pre-close the overdraft loan?
Yes. You can close it anytime and save interest. Some lenders charge a small fee.
Q: Is it better than a credit card?
For many people, yes. You get higher limit, lower interest, and more flexibility.
Q: How much time does it take?
If documents are complete, approval can take 2–4 working days.
