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DROPLINE OVERDRAFT

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Banks offer dropline overdraft for business needs and pay only for what you use. Drop-line Overdraft is an overdraft facility against property as collateral for self-employed customers.

  • Drop-line Overdraft limit of uptoRs. 5 Crores
  • Drop-Line overdraft tenure up to 15 years
  • Both residential and commercial property accepted as collateral
  • Interest charged only on the amount utilized
  • Minimal documentation and Quick approvals
  • Attractive interest rates



Dropline Overdraft can be availed by salaried individuals, self-employed individuals,
self-employed professionals, sole proprietorships, partnership firms and private limited companies (including closely-held public limited companies.)

For self-employed and Professionals:

  • Minimum annual income should be Rs. 1.50 lakh as per the P&L.
  • Minimum 21 years of age.
  • Maximum 65 years of age at the time of loan maturity.
  • Firm/company should have been in operation for the last 3 years.

For Self-Employed

  • PAN card, Partnership deed/ MOA, (for Partnership firm & Pvt. Ltd Company)
  • PAN Card and Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
  • Latest audited ITR and financials for the last 3 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
  • Bank statements from the borrower's all account/s for last 6 months
  • Title & Registered Deed and other property documents

For Self-Employed Professionals

  • PAN Card and Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
  • Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
Bank statements from the borrower's all account/s for last 6 months
  • Professional Qualification Certificate and Degree Certificate for professionals. (Doctors, Architects, Chartered Accountants etc.)
  • Title & Registered Deed and other property documents.

Note applicant is mandatory for all loans. Further documents may require after perusal of all documents. Terms & Conditions apply at the sole discretion of respective financial institution.
No. Every year the limit will drop by 10% for 10 to 15 year tenure. For example if the limit set at the beginning of the tenure for a 10 year product is 100 Lakhs then every year the limit will reduce by 10 Lakh.
No the limit once set will not be reviewed annually.
The interest will be charged on the 1st of every month on the utilized amount. Regular interest repayment is mandatory. The interest repayment has to be done before the end of every month.
No foreclosure is allowed before the loan has completed 6 months. After 6 months, foreclosure charges are applicable.
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