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Personal loan Overdraft

Tata Capital has got your back. Our Personal Overdraft Loan facility allows you to withdraw additional funds as and when you need them. What's more? You only have to pay interest on the amount you actually use. We understand certain emergencies can come unannounced. This is why our personal overdraft loan is flexible and offers multiple withdrawals and part-payment facilities at zero extra charges.

Disclaimer: Personal Loans are at the sole discretion of Tata Capital Limited (TCL). Terms and conditions apply.

  • Loan amount

    Up to ₹ 35 Lakh*

  • Tenure

    Up to 84 months

  • Interest Rates from

    14.75%* onwards

  • Advantages of Overdraft Personal Loan

    Simple Documentation for Overdraft Personal Loan

    The documentation and paperwork for personal overdraft loan is minimal which keeps you hassle free.

    Easy re-payment options

    Pay interest only on utilized amount. Part-payment facility available for personal overdraft loan without any extra charge.

    Multiple withdrawals via online Transactions and Personal Loan OD Facility

    Withdraw and pay back multiple times within the credit sanctioned/available limit with overdraft personal loan.

    Moratorium Period

    For loan tenures of 60 & 72 months, moratorium period, i.e., the limit stays fixed for 1 year and for tenure of 84 months, the limit remains fixed for 2 years. 

    Step Up Dropline Percentages

    After the completion of fixed period, the dropline starts with the limit dropping every month basis fixed percentages for each year of the total tenure offered.

    Eligibility Criteria for Personal Loan Overdraft

    The eligibility criteria for personal loan overdraft are as follows-

    1. The applicant must be between the age of 21 to 58 years

    2. Only Salaried individuals can apply

    3. The applicant must have a credit score of 725 or above

    Personal Loan Overdraft Fees and Charges

    Interest Rate Tata Capital offers attractive interest rates on personal loan overdrafts.
    Processing Fees This refers to the fees charged for processing a loan overdraft application.
    Payment Instrument Swapping Charges This refers to charges levied if the borrower wishes to swap their eMandate or post-dated cheque from another account for EMI repayments.
    Foreclosure Charges This is charged in case the borrower wishes to repay the outstanding loan overdraft amount in its entirety before the scheduled tenure ends.
    Stamp Duty This charge depends on the state in which you’re applying for a loan overdraft.
    Cheque Bounce Charges This is charged in case the borrower’s cheque bounces.

    Documents Required For Personal Overdraft Loan

    Here is a list of documents you need to apply for a personal overdraft loan:

    • Photo Identity Proof: A copy of your Voter ID/Passport/Driving License/Aadhaar Card

    • Address Proof: A copy of your Voter ID/Passport/Driving License/Aadhaar Card

    • Salary Slips: A copy of your salary slips for the last two months

    • Income Proof: A copy of your salary credit or primary bank statements for the last three months

    • Employment Certificate: A certificate stating one year of continuous employment

    How to Apply for Overdraft Personal Loan?
     

    You can apply for an overdraft personal loan offline or online with Tata Capital. Here are the steps to follow if you want to apply offline:
     

    Step 1: Visit your nearest Tata Capital branch.
     

    Step 2: Complete the application form and attach all documents as directed by our executive.
     

    Step 3: The overdraft amount will be disbursed as soon as your personal loan overdraft application is approved.

    Here are the steps to follow when applying for a personal loan overdraft online:
     

    Step 1: Navigate to our official website and click on ‘Apply Now’.
     

    Step 2: You will be directed to a new window. Existing customers and click on the ‘Existing Customer’ tab to start the application process. If you’re a new customer, click on the ‘New Customer’ tab to proceed.
     

    Step 3: Follow the directions on your screen.
     

    Step 4: The overdraft amount will be disbursed as soon as your personal loan overdraft application is approved.

    Types of Personal Loan OD Facility

    Tata Capital offers Fixed Hybrid Personal Loan Overdraft facility

      Tata Capital offer 2 types of Personal Loan Overdraft facility namely Step Up (Hybrid) facility and Dropline facility.

    • In Step Up (Hybrid), the limit would remain fixed for a certain tenure and then convert to dropline for the rest of the tenure basis fixed percentage.

    • For loan tenures of 60 & 72 months, the limit will remain fixed for the first year and dropdown starts after completion of one year.

    • For loan tenure of 84 months, the limit will remain fixed for the first 2 years and dropdown starts after completion of two year.

    • For loan tenures less than 60 months, the dropline starts immediately with no fixed period.

    Features of Personal Loan Overdraft Facility

    Credit limits

    Overdraft facility accounts come with predetermined credit limits that you can avail of. These limits depend on many factors depending on the individual. For example, the Overdraft Facility limit for salaried employees can be based on age, financial health, creditworthiness, etc.

    Easy repayment options

    With Tata Capital’s personal loan with an overdraft facility, you only pay interest on the utilized amount. Plus, we even offer a part-payment facility without any extra charge.

    Convenient tenures

    At Tata Capital, we offer tenures starting from 36 months and going up to 84 months on our fixed hybrid personal loan overdraft facility. And the period for which your credit limit remains fixed and the dropline overdraft facility period is predetermined.

    Avail of high loan amounts

    A very useful feature of overdraft facility accounts is the ability to receive high funds. This can be useful for many reasons, such as expanding your business or attending to any urgent personal needs. Tata Capital offers loan amounts starting from two lakhs up to Rs. 35 lakhs.

    Multiple withdrawals via online transactions

    Unlike regular loans with a one-time withdrawal option, you can withdraw finances multiple times through the personal loan overdraft facility. Besides, you can pay back the amount multiple times as well.

    Simple documentation

    At Tata Capital, we simplify the paperwork for our overdraft facility. This makes our application process incredibly hassle-free.

    Excellent customer service

    Along with a simple application process, we ensure quick redressal of any doubts or complaints. You can contact our customer care team for assistance with any issues through our number, 1860 267 6060, or via email at customercare@tatacapital.com.

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    What Our Customers Say About Us

    Shived Saxena

    Personal Loan

    Everything was smooth and accurate. I appreciate your help and support.

    KALPESH NARESH PARMAR

    Personal Loan | 14 Nov, 2024

    Tata Capital is always very good and provides very nice service.

    Girvar Adlakha

    Personal Loan | 10 Nov, 2024

    Best service and customer support.

    RINARANI SETHY

    Personal Loan | 10 Nov, 2024

    Best service, very good experience.

    ISHWAR CHAND GOSWAMI

    Personal Loan | 09 Nov, 2024

    Best service, no need for any suggestions. Thank you so much for your best service.

    Pranali Parab

    Personal Loan | 08 Nov, 2024

    Customer support is the best and takes prompt action.

    SUBHANKAR GHOSH

    Personal Loan | 06 Nov, 2024

    As of now, my experience with Tata Capital service executives has been excellent. I appreciate their response. Thanks.

    PRABODH SUBBODH NAYAK

    Personal Loan | 21 Oct, 2024

    All is excellent, and you maintain the TATA corporate brand.

    VIKAS KANHAIYALAL JADHAV

    Personal Loan | 10 Oct, 2024

    All services are the best.

    VAIBHAV UTTAM SHINDE

    Personal Loan | 03 Oct, 2024

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