Dropline overdraft Eligibility Criteria
Dropline overdraft Eligibility Criteria depends on various factors like age of
individual, repayment history, business sales/turnover, total work experience &
Note: - As a maximum loan amount you can avail up to 50 lakhs on dropline
What are the factors generally affecting Dropline overdraft Eligibility Criteria?
There are top factors that generally affects Dropline overdraft Eligibility Criteria as
given below: -
Past Credit History: - You need to ensure whether all your past credit history
transaction is taking place properly or not, because its much-considered point
while reviewing your application.
Applicant age: - Generally, there is a specific age criterion set for applying loan,
for getting a dropline overdraft age limit set in-between 24 – 65 years of age at
the time of applying for loan.
Newly business existing: - Dropline overdraft facility is only offered to those
business who have continuity of minimum 2 year. Therefore, newly start-up
businesses couldn’t be able to avail it.
What are the ways to increase Dropline overdraft eligibility?
To increase Dropline overdraft eligibility, you need to consider Top points as given
below, this will aid you in increasing your eligibility level.
Maintain good credit report: - When you are looking to avail dropline overdraft
for your business then make sure you maintain good business credit report, try to
avoid having multiple credit card, try to close existing loan, pay bills on time...etc.
As all these points help in increasing eligibility level.
Reduce spending on expenditures: - When you reduce spending over business
expenditure, you will be able to save money for day-to-day operational business
which led you to borrow only small amounts of money through dropline overdraft
& increase business eligibility.