Overdrafts (Unsecured)

An individual/Firm member may be allowed Temporary Overdrawn (TOD) facility upto maximum of ` 5 lac subject to the following conditions :-

• Such OD shall be for a maximum period of 12 months only, which may be extended in deserving cases.
• Such members must have satisfactorily conducted in Current Account or other account with the bank at least for last six months .borrower must have either Residential or Official premises/space of his/her own and documentary proof of the same to be obtained.
• ITR ,GST registration and latest Balance sheet to be obtained.
• Such facility will include drawals againt cheque/s sent for collection (including outstation cheques).
• Execution of valid loan documents as per overdraft scheme.
• MCL : 4 times of annual income verified by documentary proof subject to maximum of Rs 5.00 Lacs.
• Sureties: a minimum of 2 respectable sureties of good means to the satisfaction of Bank.