Sometimes you are in immediate need of a small loan, and obviously, you don’t want to take the hassle of applying for a personal loan for those amounts. In such scenarios, you can use our unsecured overdraft facility to withdraw a certain amount from your account (after your account balance goes zero)up to the approved limit.
You don’t have to keep anything as collateral, and we pre-approve the amount, so the disbursal is instant. Also, we increase your overdraft limit if you repay your dues on time. It includes some other benefits like.
For Salaried and Self Employed Person The Rate of interest starts from 14%*
*Rate of interest depends upon Customer Profile and the Loan Amount.
You cannot pay the amount of unsecured overdraft using EMI; however, you are allowed to repay it cumulatively. The disbursed amount will be small and fall into your repaying capacity. So, you don’t have even need an EMI option.
Another benefit is that you don’t have to keep your assets as collateral for unsecured overdrafts. The risk is on us, and that’s another step to providing you with hassle-free customer service.
It’s a fantastic service, but not everyone can use this. It’s for our valuable customers who maintain a good relationship with our organization. Also, there are no prepayment charges on an overdraft facility.
© 2022 First Notch All Rights Reserved | GST – 19ANXPC7207M1ZC
