Apply online Unsecured Drop Line Overdraft Limit @16.00%
| Bank Name | Interest Rate Range (%) | Processing Fee (%) | Maximum Tenure (Month) | |
|---|---|---|---|---|
|
18.00% - 19.00%
|
2 %
|
36
|
|
|
18.00% - 19.00%
|
2 %
|
48
|
|
|
18.00% - 20.00%
|
2%
|
36
|
|
| Bank Name | Key Features | |
|---|---|---|
|
|
Interest rate
18.00% - 19.00% |
|
|
|
Interest rate
18.00% - 19.00% |
|
|
|
Interest rate
18.00% - 20.00% |
|
Documents Required
- Individual
- Prop Firm
- Partnership Firm-LLP
- PVT. LTD.
- 2 Photographs
- PAN Card Copy
- AADHAR CARD AND PASSPORT
- ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
- LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
- LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
- LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
- LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
- COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
- PROCESSING FEE CHEQUE IN FAVOUR OF BANK
- PHOTOGRAPH BOTH
- PAN CARD CLEAR COPY PROPRIETOR
- ADD PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
- OFFICE ADDRESS PROOF LATEST. (ELECTRICITY BILL, TELEPHONE BILL)
- FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
- LAST 1 YEAR GST RETURN COPY
- FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
- PROVISIONAL FINANCIAL AY 2019-20
- BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED
- 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
- IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS WITH CHAIN SANCTION MAP
- PHOTOGRAPH BOTH
- PAN CARD CLEAR COPY PROPRIETOR
- ADD PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
- OFFICE ADDRESS PROOF LATEST. (ELECTRICITY BILL, TELEPHONE BILL)
- FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
- LAST 1 YEAR GST RETURN COPY
- FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
- PROVISIONAL FINANCIAL AY 2019-20
- BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED
- 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
- IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS WITH CHAIN SANCTION MAP
- PHOTOGRAPH PARTNERS
- PAN CARD - COMPANY, ALL PARTNERS
- ADD PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN , ADHAAR)
- FIRM ADD PROOF- LATEST ANY UTILITY BILL
- PARTNERSHIP DEED COPY
- GST CERTIFICATE
- GST Return last 1 years
- 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
- PROVISIONAL FINANCIAL AY 2019-20
- 3 YEAR ALL PARTNER INDIVIDUALS ITR + COMPUTATION
- FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
- ALL PARTNER SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH MAP
- ALL DIRECTORS PHOTOGRAPH
- CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
- ADDRESS PROOF – COMPANY AND DIRECTORS
- LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
- MEMORANDOM
- ORDER IN HAND AND COMPLETE COPY (if applicable)
- GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
- 1 YEAR GST RETURNS
- ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
- LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
- PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
- COMPANY ALL BAALL DIRECTORS SAVING A/C STATEMENT 6 MONTH.NK ACCOUNT STATEMENT 1 YEAR UPDATED
- ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions
What is Dropline Overdraft (DOD) ?
The Dropline overdraft facility refers to the secured loan category where against a property as security, loan is given for a specified period where the loan amount is reduced every month / quarterly / semi-annually / annually (depends upon bank to bank) from the principal amount.
The right of ownership of the property is still with the borrower and you are still allowed to continue using it for residential or commercial purposes.There is no annual maintenance charge in drop line o
Why Choose a Dropline Overdraft Facility ?
- Interest Only Loan : The greatest advantage of dropline overdraft facility is that you have to pay only the interest for the amount you utilise and not on the entire loan amount. The principal amount is automatically deducted from the main loan amount at regular intervals (monthly / semi-annually / annually) depending upon bank to bank.
- Unique Financial Facility : Easy and conveniently availability of a Dropline Overdraft is the biggest advantage of this financial product.
What all documents required for taking Dropline Overdraft Loan ?
- Personal Documents
- Application form with Passport Size Photographs of all applicants and co applicants
- PAN Card of applicant and co applicant
- Identity Proof – Voter ID / Driving License / Passport / Aadhar Card (Any one can be submitted)
- Address Proof – Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill (Any one can be submitted)
- Ownership proof of either residence or office either in the name of applicant or jointly with family.
Advantage of Dropline Overdraft Facility ?
The biggest advantage of Dropline Overdraft is that it is an interest only EMI loan that can be made available for higher amount till 100 crores and that too at lower rate of interest (10% - 13%) and higher tenure (till 15 years) with lower EMI as compared to other loan products without much hassle subject to some factors considered by bank while giving loan.
How it works ?
- Answer Basic Questions
- Check loan Eligibility
- Apply Online / Offline
We have associations with leading banks and NBFC's to provide you wide range of Dropline Overdraft options with different set of commercials as per your unique case study analysis. Our customised matchmaking algorithm ensures that we match your requirements with available options and provide you with the best suitable results matching your requirements.
Why to apply a Dropline Overdraft on Finance Seva ?
- Oldest Loan Advisor: 15 years of versatile professional experience since the inception of retail loans industry in 2002.
- One Loan Professional: Dedicated one loan professional assigned to your financial need.
- Consistent Award Winner: Honoured by various bank & NBFCs for outstanding performance since 2005 to till date.
- Associations: Tie-ups with more than 40+ banks & NBFCs.
Calculators
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