Overdraft Facility – Flexible Cash Flow Solution
SJ Finance's Overdraft (OD) Facility gives you a revolving credit line that helps you manage business or personal cash flow with ease. Unlike a regular loan, you only pay interest on the amount you actually use. Repay and redraw as needed within your sanctioned limit, giving you complete flexibility over your finances.
Key Features
- Revolving credit – withdraw, repay, and re-use within the limit
- Interest charged only on the utilized amount, not the full limit
- No prepayment penalty – repay any time
- Secured against property, FD, or insurance policies
- Annual renewal with possible limit enhancement
- Available for both business and personal needs
Eligibility Criteria
- Age: 21 to 65 years
- Salaried or self-employed individuals
- Minimum 2 years business continuity or employment
- Good CIBIL score of 650 and above
- Collateral: property / FD / insurance policy
Documents Required
- Identity Proof: Aadhaar / PAN Card / Passport
- Address Proof: Utility Bill / Aadhaar
- Income Proof: Last 3 months salary slips / IT Returns
- Bank Statements: Last 6 months
- Collateral Documents (property / FD / policy)