Drop Line Overdraft

Maximum LTV available with dropline overdraft; this facility allows you to pay interest only when the money is used. Both secured and unsecured loans are available, so you don't need to submit collateral.

Eligibility Criteria

Overdraft on a dropline The eligibility criteria are determined by a number of elements, including the individual's age, repayment history, business sales/turnover, total work experience, and creditworthiness.

Eligibility Criteria for Self-Employed Individuals

  • Self-employed individuals must be between the ages of 24 and 65.
  • The minimum income for the previous two years’ ITR should be 2.5 lakhs.
  • Two to five years of business continuity is required.

Eligibility Criteria for Self-Employed Non- Individuals

  • Self-employed individuals must be between the ages of 24 and 65.
  • For the last two years, the minimum cash profit should be 3 lakhs.
  • Two to five years of business continuity is required.

Documents Required

Individual

  • Two photographs
  • PAN card copy
  • Aadhar card + Passport
  • Address proof (rented + permanent)
  • Last 3 years' Form-16, ITR + computation
  • 1 year salary account bank statement
  • Loan sanction letter & repayment schedule
  • Complete property papers with chain & map + ATS
  • Last 3 months’ salary slip + appointment letter

Prop Firm

  • Photograph both
  • Clear PAN Card (Proprietor)
  • Address proof (Passport, Voter ID)
  • Office address proof (latest utility bill)
  • Firm registration certificates & GST
  • 3 years ITR + P/L, Balance Sheet, Audit Report
  • Provisional Financial AY 2023-24
  • Bank accounts (Current/CC/OD - last 1 year)
  • 6-month savings account statement
  • Loan sanction & repayment schedule
  • Agreement to Sell Copy
  • Property papers with chain + sanctioned map

Partnership Firm LLP

  • Photograph of all partners
  • PAN card – Company & all partners
  • Address proof of all partners
  • Firm address proof (utility bill)
  • Partnership deed
  • GST certificate + last 1 year returns
  • 3 years company ITR, P/L, balance sheet + audit report (CA certified)
  • Provisional Financial AY 2023–24
  • 3 years ITR + computation of all partners
  • 1 year firm’s bank statement
  • 6-month savings account of all partners
  • Loan sanction + track records
  • Agreement to Sell Copy
  • Property papers with chain & map

PVT LTD

  • Address proof – Company & directors
  • List of directors & shareholders (CA certified)
  • MOA copy (if applicable)
  • GST, VAT, SSI registration certificates
  • 1 year GST returns
  • 3 years ITR + computation of directors
  • 3 years complete financials + tax audit report
  • Provisional FY or monthly sales figure (last year)
  • 1 year company bank statement updated
  • 6-month savings account statement of directors
  • Loan sanction + repayment schedule
  • Agreement to Sell Copy
  • Property papers with complete chain & sanctioned map

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