Bank Over Draft Facility Services Provider in Noida Delhi- India

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Over Draft

MyLoanBazar.Com provides financial solutions through a single window to meet your various business opportunities with Overdraft Services. We help an organization to meet its capital needs to pursue its business goals through the suitable finance options available.

Overdraft facility is a limit which is extended in current account allowing withdrawing any amount up to the sanctioned limit. Interest is charged on the amount used on a daily outstanding basis.


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Over Draft → Eligibility

It’s easy and simple to get overdraft facility provided one meets all the criteria laid down by the bank. The eligibility norms are more or less similar with all the banks and one can apply any bank of choice.


Eligibility criteria to get overdraft facility include:

    You must be an Indian 

    You must meet the age group norms set by different banks

    You need a collateral which should be any included in the list of the bank

    You must be a regular customer with a bank which means you need to have a running account 


The list of documents mentioned above is not inclusive and banks may ask for more while giving you overdraft facility. Visit to know more about overdraft facility.

Over Draft Documents

Overdraft facility - documents

Documents required for processing the loan applications for overdraft facility

Kyc documents-

Sr. No. Documents type          Required documents

1              Id proof                       Copy of, passport / pan card / voter id card / driving license/ ration card / adhaar card

2              Address proof             Copy of , passport/utility bill/voter id card / driving license/ ration card / adhaar card

3              Age proof                    Copy of, passport/ pan card/driving license/birth certificate/ration card

4              Signature proof           Copy of, pan card/bank authorized letter

Financials documents-

Sr. No. Required documnets

1             4 photograph for applicant & co-applicant

2             Company profile (history, background & growth) + director / partner / proprietor (background, 


3             Latest list of director & shareholding pattern on letter head attested by ca

4             Net worth statement of all director attested by ca

5             Latest sale tax/service tax/ vat/cst/certificate of registration

6             Copy of moa/aoa/partnership deed (as applicable)

7             Copy of latest vat  of till date for latest financial year

8             Copy of provisional balance sheet and profit & loss a/c

9             Last 3 year, itr + computation of income + auditor’s report +profit & loss+ balance sheet with complete schedule

10            Last 6 month bank statement of all running bank accounts of company

11            Last 6 month bank statement of all running bank accounts of director / partner / proprietor.

Property documents-

Sr. No.      Required documents

1              Copy of property paper with complete back chain

2              Copy of sanction plan

3.             Copy of latest house tax receipt

Additional documents-

Sr. No. Required documents

1              Copy of sanction letter & amortization schedule of all running loan.

2              Latest statement of account of all running loan

3.            Copy of loan closure letter / noc, if any loan closed in last 6 month.

5.            Copy of work order in hand

Over Draft - Process


1.   The very first step required for applying a overdraft  facility  is submitting the application form along with the necessary documents like age proof, address proof, Identification Proof and employment details.

2.   After submitting the application form, you may receive a call from the Bank officials. As some of the Financial Banks in India calls for a face to face discussion before approving your loan. In the present scenario it is the least adopted process, but still applied by some of the Indian Banks.

3.  The third step required in a overdraft facility process is to verify your information filled in the application form. The process involves cross checking of your residential as well as official address authenticity by sending bank representatives to the respective places.

4.  The next step is the credit appraisal for getting your loan sanctioned. This process involves establishments of repayment capacities based on calculating your income, age, qualification, nature of business and so on. This stage is referred as the most crucial one where your application for loan might get rejected.

5.     After getting your overdraft facility sanctioned from the bank you will receive an offer letter enclosing the following details on the banks behalf.

-    Loan Amount

-    Rate of Interest

-    Type of Interest rate (Fixed or variable)

-    Tenure of the Loan     

-    Mode of repayment

-    Detailed information regarding the scheme (in case of any special scheme)

-    General Terms and conditions mentioned under the loan scheme 

-    Special conditions ( if any)

6.  The legal paper formality is required like the submission of the title document of your seller including NOC.

7.  Valuation of the property for which the bank is granting you loan. As the Financial banks in India are really concerned about the property for which they are sanctioning the loan.

8.  Sealing the deal and signing the overdraft facility agreement.   

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