Bank Overdraft Loan

A bank overdraft loan allows you to withdraw more money than your available account balance up to a sanctioned limit. This limit is approved based on your income, banking history, and credit profile. Interest is charged only on the amount you actually use and for the duration it remains outstanding. As you repay the amount, your available overdraft balance is restored, allowing repeated use without reapplying.

Why Choose a Bank Overdraft Loan with Impye

• Access credit instantly without waiting for full loan disbursal

• Use funds only when required, not in one fixed amount

• Interest applies only to the amount withdrawn

• Flexible repayment without fixed monthly EMIs

• Credit limit becomes reusable after repayment

• Fully digital application and document upload

• Suitable for short-term and fluctuating financial needs

Documents Required

Step 1: Check Basic Eligibility

Start by reviewing basic criteria such as income source, bank account activity, and credit profile using the online eligibility tool.

Step 2: Complete the Online Application

Enter essential personal details, employment or business information, and banking details. Choose the required overdraft limit based on your needs.

Step 3: Upload Required Documents

Submit digital copies of identity proof, address proof, income-related documents, and recent bank statements. Accurate uploads help avoid delays.

Step 4: Digital Verification & Review

Your details are verified online, and a credit assessment is carried out. Additional information may be requested if needed.

Step 5: Overdraft Limit Approval

Once approved, you receive details of the sanctioned overdraft limit along with applicable terms and usage guidelines.

Step 6: Start Using the Overdraft Facility

After approval, you can start using the overdraft amount directly through your linked bank account.