Overdraft facility in tamil | Overdraft facility in sbi salary account | Overdraft loan - YouTube

Welcome

Today we are going to know about Overdraft Facility

What is an overdraft?

Overdraft is the practice of withdrawing money from a bank account when there is no balance.

How can you be clear about this?

Emergency payments to someone but there is no balance in your account

You can sign a cheque for a certain amount

If you deposit the cheque in the bank without money, the check will be bounced.

We can use overdraft facility to deal with this problem

Let me give you another example

Monthly due payment of a certain amount for a particular loan

There is no balance in your account on that date

You can use overdraft facility to fix this problem

There are differences in terms and conditions of each bank

To whom they are giving

the overdraft to those who have a current account and a salary account?

Overdraft allows customers to borrow a certain amount of money

And this loan has interest

The money must be repaid within a specified period with interest

To make this paragraph clear to you,

Let's open a few specific bank websites and see what he has to say

First State Bank

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CORPORATE SALARY PACKAGE (CSP) Overdraft equivalent to 2 Months Net Salary

This amount must be repaid within 6 months

CENTRAL GOVERNMENT SALARY PACKAGE Overdraft equivalent to 2 Months Net Salary

STATE GOVERNMENT SALARY PACKAGE Overdraft equivalent to 2 Months Net Salary

RAILWAY SALARY PACKAGE Overdraft equivalent to 2 Months Net Salary

DEFENCE SALARY PACKAGE Overdraft equivalent to 2 Months Net Salary

CENTRAL ARMED POLICE SALARY PACKAGE Overdraft equivalent to 2 Months Net Salary

POLICE SALARY PACKAGE Overdraft equivalent to 2 Months Net Salary

INDIAN COAST GUARD SALARY PACKAGE Overdraft equivalent to 2 Months Net Salary

The features and benefits of the overdraft facility in Salary Package Account are

Up to 2 times Net Monthly Salary

Minimum documentation

No processing fees

Repayable in 6 months

Interest payable only on the utilized amount.

Monthly Salary and other Credits in the account help save interest.

Terms & Conditions Apply. Overdraft at the sole discretion of SBI. For more details please contact your branch.

Who is eligible for Overdraft facility?

If you have minimum 6 months of residual service and your salary account with us has regular salary credits, then you are eligible for an Overdraft facility.

How many salary credits are required in my existing account to qualify for Overdraft?

Minimum 6 consecutive salary credits are required.

Can Overdraft facility be availed through Internet Banking?

Overdraft facility through Internet Banking is being offered only to pre-selected Diamond and Platinum variant Customers as on date.

Next Indian Overseas Bank

IOB Corporate salary Account

Unless there is any disadvantage in the Sibyl report

You can buy an overdraft for the equivalent of one month's salary

This overdraft loan has to be repaid in three months with interest

Next are Union Bank of India, Corporation Bank, Andhra Bank

These three banks are one and the same

Click on Product Account and Deposit

Union Super Salary Account-I

Temporary Overdraft (TOD) facility

90% of the 1-month net salary with maximum of Rs 20,000 in the same account.

Union Super Salary Account-II

Temporary Overdraft (TOD) facility

90% of the 1-month net salary credited to account with maximum of Rs 50,000/- in the same account.

Union Super Salary Account-III

Temporary Overdraft (TOD) facility

90% of the 2-months net salary credited to account with maximum of Rs 2, 00,000/- in the same account.