Overdraft Facility for Salary Earner



Eligibility Permanent Employees of Govt , Semi Govt , MNC, PSU, Organization having their accounts with the Bank for the last 6 months .
Purpose Personal need
Overdraft Limit Rs 50,000/- or 2 times of net take Home Salary (i.e after deducting 1/3rd salary as per Banks policy) whichever is lower.
Margin 1/3rd salary as per Banks policy.
Interest rate 18 % p.a
Repayment Yearly review
Age Min 22 years to Max 55 years.
Security Nil (Unsecured Loan)
Share linkage 1 % of sanctioned limit
Guarantors 2 guarantors acceptable to Bank
Process Charges 0.50 % of sanction limit
Sector Non Priority
Other requirement
  • Applicant should be in permanent employment.
  • Pre sanction visit of Residence &Work place.
  • Applicant CIBIL report should be clean without any remark like Overdues , Written off etc .
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    National Co-operative Bank