🔥 Great news! Kotak Mahindra Bank has reintroduced its Overdraft (OD) facility with attractive features for salaried professionals. Enjoy 6 years of flexible credit access with easy repayment terms.
Key Features of Kotak Bank OD Facility
✅ Long Tenure: 6 years (1+5)
- 1st Year: Fixed repayment period
- Next 5 Years: Dropline repayment (gradual reduction)
✅ Eligible Categories:
- AA, A, B & Government Employees
✅ Minimum Take-Home Salary: ₹1 Lakh+ per month
✅ Credit Score Requirement: CIBIL 730+ (Green Score Card)
✅ FOIR Limit: 60% of Income (Existing EMIs + OD limit ≤ 60% of salary)
✅ Eligibility Check: Based on 4 years repayment capacity
Who Can Apply?
✔ Salaried individuals in AA, A, B, or Govt. sectors
✔ Minimum salary: ₹1 Lakh/month (net take-home)
✔ CIBIL Score: 730+ (No major defaults)
✔ FOIR ≤ 60% (Existing loans + OD limit should not exceed 60% of income)
Why Choose Kotak Bank OD?
💳 Flexible Withdrawals: Use funds only when needed, pay interest only on utilized amount.
📅 Long Repayment Tenure: 6-year limit with a dropline structure.
⚡ Quick Approval: Faster processing for eligible applicants.
💰 No Prepayment Charges (Check terms for updates)
How to Apply?
1️⃣ Check Eligibility – Ensure you meet salary & CIBIL criteria.
2️⃣ Submit Documents – Salary slips, bank statements, KYC.
3️⃣ Get Approval – Kotak Bank verifies & sanctions OD limit.
4️⃣ Start Using OD – Withdraw funds via NetBanking/UPI/Cheque.
