What is an overdraft?
Overdraft is a facility to withdraw or avail a certain limited amount of money as an overdraft from your account, based on your eligibility, as fixed by the bank, based on your transactions. This facility is usually given by banks to business establishments or individuals, against fixed deposits or other securities.
The interest you pay is only limited to the overdraft money you are actually using and not the full overdraft limit. There is no fixed tenure for an overdraft. You pay interest as long as you hold the money and can close it any time you wish.
- Id proof: Copy of, passport / pan card / voter id card / driving license/ ration card / adhaar card
- Address proof: Copy of , passport/utility bill/voter id card / driving license/ ration card / adhaar card
- Age proof : Copy of, passport/ pan card/driving license/birth certificate/ration card
- Signature proof: Copy of, pan card/bank authorized letter
- 4 photograph for applicant & co-applicant
- Company profile (history, background & growth) + director / partner / proprietor (background, Experience)
- Latest list of director & shareholding pattern on letter head attested by CA
- Net worth statement of all director attested by CA
- Latest sale tax/service tax/ vat/cst/certificate of registration
- Copy of moa/aoa/partnership deed (as applicable)
- Copy of latest vat of till date for latest financial year
- Copy of provisional balance sheet and profit & loss A/C
- Last 6 month bank statement of all running bank accounts of company
- Last 6 month bank statement of all running bank accounts of director / partner / proprietor.
Property documents Required
- Copy of property paper with complete back chain
- Copy of sanction plan
- Copy of latest house tax receipt
Additional documents Required
- Copy of sanction letter & amortization schedule of all running loan.
- Latest statement of account of all running loan
- Copy of loan closure letter / NOC, if any loan closed in last 6 month.
- Copy of work order in hand