Overdraft (OD) Facility

Key Features and Benefits of Overdraft (OD) Facility

Receive a pre-approved limit based on your income, banking history, or business performance. Limits typically range from ₹25,000 to several lakhs, depending on eligibility.

Receive a pre-approved limit based on your income, banking history, or business performance. Limits typically range from ₹25,000 to several lakhs, depending on eligibility.

Pay Interest Only on What You Use

Interest is applied only to the amount withdrawn, not the full sanctioned limit. It’s calculated daily and charged monthly, ensuring cost efficiency.

Pay Interest Only on What You Use

Interest is applied only to the amount withdrawn, not the full sanctioned limit. It’s calculated daily and charged monthly, ensuring cost efficiency.

Withdraw & Repay Freely

Enjoy the flexibility to withdraw and repay anytime within the approved limit. No structured EMIs or fixed repayment schedules like traditional loans.

Withdraw & Repay Freely

Enjoy the flexibility to withdraw and repay anytime within the approved limit. No structured EMIs or fixed repayment schedules like traditional loans.

Unsecured Access (No Collateral)

Salaried individuals are often eligible for unsecured overdrafts. Self-employed applicants may be offered unsecured as well as secured options against FDs, property, or other assets.

Unsecured Access (No Collateral)

Salaried individuals are often eligible for unsecured overdrafts. Self-employed applicants may be offered unsecured as well as secured options against FDs, property, or other assets.

No Interest If Not Used

Unlike personal loans, you pay no interest unless you utilize the facility — keeping costs low when not in use.

No Interest If Not Used

Unlike personal loans, you pay no interest unless you utilize the facility — keeping costs low when not in use.

Overdraft (OD) Facility

An Overdraft (OD) Facility, powered by FundOcean, offers you the freedom to access extra funds beyond your account balance—whenever you need it. Ideal for both salaried individuals and business owners, this credit facility ensures liquidity without the need for a full loan disbursement.

Overdraft Facility Eligibility Criteria

Eligibility Criteria

Overdraft Facility Eligibility Criteria

  • Age : 24 to 63 years
  • Employment Status : Minimum 1 Year
  • Monthly Income : Minimum 30k for salaried
  • Credit Score : 700 and above

For Self-Employed Applicants

  • Age : 24 to 65 Years
  • Business Vintage : Minimum 2 years of uninterrupted operation
  • Annual Turnover: Minimum 40L
  • Credit Score : 700 and above
  • Profitability : Positive profits for the last 2 financial years
  • Banking Activity : Healthy cash flows and average monthly balance
For Self-Employed Applicants

Overdraft (OD) Facility Documentation Guide

At FundOcean, we’re committed to making your Overdraft (OD) Facility experience fast, hassle-free, and user-friendly. While documentation requirements are minimal, they may vary slightly depending on whether you are salaried or self-employed. Here’s a quick overview of the documents you’ll need to submit with your application.

Common Documents

Common Documents for All Applicants

These documents are mandatory for both salaried and self-employed individuals:

ID Proof (Any One) - Aadhaar Card, Voter ID, Driving License, Passport
PAN Card (Mandatory)
Current Address Proof (Any One) – Aadhaar Card, Voter ID, Driving License, Passport, Rent Agreement, Latest Utility Bill, Allotment Letter
Ownership Proof (Any One): Latest Electricity Or Tax Bill, Index Copy
Bank Statement (Last Six Months’ Statement)
Existing Loan Statements (If any)
Latest Credit Cards Statements (If any)

Additional Documents for Salaried Applicants

If you are a salaried individual, you’ll also need to provide:

Salary Slips – Last three months’ salary slips
Income Proof – Last two years’ Form 16 or Form 26AS
Employment Proof – Appointment Letter or Company ID Card
Top Up Loan 1
Additional Documents for Self-Employed

Additional Documents for Self-Employed Applicants

If you’re self-employed, these additional documents are required:

Last 3 Years’ Income Tax Returns with P&L Account, Balance Sheet and Computation Of Income
Business Continuity Proof – GST Certificate, MSME (Udyam Registration), Shop Act License, FSSAI, etc.
GST Returns – Last 12 months GSTR3B
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          Why Choose FundOcean

          Experienced Advisors

          Over 14 years in the finance industry

          Tailored Solutions

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          PAN-India Coverage

          Serving clients across all major cities and regions

          Safe & Transparent Process

          No hidden charges, no unnecessary complications

          Goal-Oriented Approach

          Whether It’s your Personal Needs, Debt Consolidation or Business Growth

          Final Tip

          Preparing your papers in advance and maintaining clean financial records can accelerate the process and make it more streamlined. In case you are unsure about eligibility or what documents are needed, our loan experts at FundOcean are only a click away — ready to guide you through from application to disbursal!

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