Overdraft Self Employed

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Overdraft for Self-Employed: Flexible Working-Capital Support

For entrepreneurs and business owners, cash-flow fluctuations are a part of daily operations. An overdraft facility designed specifically for self-employed professionals gives you instant access to funds whenever your business needs them—without lengthy loan approvals.

This revolving credit line lets you withdraw money up to a sanctioned limit and pay interest only on the amount utilized. It’s a smart way to manage short-term expenses such as inventory purchases, supplier payments, or urgent working-capital requirements.

Key Features & Benefits

Stay ahead of cash-flow challenges with these advantages:

Credit on Demand – Withdraw funds any time within your limit.
Interest Only on Usage – Pay interest only on the amount utilized.
Flexible Repayment – Repay and redraw as per business needs.
No End-Use Restriction – Ideal for working capital, inventory, or expansion.
Competitive Rates – Based on business turnover and financials.

Eligibility Criteria

Age: 21–65 years
Business Vintage: Minimum 2 years of stable operations
Annual Turnover: As per lender policy (typically ₹10 lakh+)
Credit Score: 700+ preferred

Documents Required

✔ Identity Proof – Aadhaar, PAN, Passport, or Voter ID
✔ Address Proof – Utility bills, rental/ownership documents
✔ Business Proof – GST certificate, business registration, partnership deed, or trade license
✔ Financials – Bank statements, ITR, or audited balance sheets

How to Apply

1. Assess Your Requirement – Estimate the overdraft limit needed.
2. Compare Offers – Review interest rates and service charges.
3. Submit Application – Online or at the branch with required documents.
4. Verification & Sanction – Lender reviews financials and business health.
5. Access Funds – Draw money instantly up to the approved limit.

An overdraft facility for self-employed individuals ensures that temporary cash shortages never hinder your growth. Manage expenses, seize opportunities, and maintain smooth operations with flexible credit that works when you need it most.