Tata Capital Overdraft Account

You never know when a financial emergency can make your life full of stress. Such a situation can fill your surrounding with despair and money becomes the topmost priority. Overdrafts can solve short-term financial problems for small businesses. However, it is important to know when an overdraft is useful and when it can be disastrous.

An overdraft allows the individual to continue withdrawing money even if the account has no funds in it or not enough to cover the withdrawal. Basically, overdraft means that the bank allows customers to borrow a set amount of money.

Why apply Tata Capital Overdraft @ SalariedLoans?

Low Interest Rates: We Negotiate with Tata Capital to get you the best Overdraft Facility interest rates.
Customized Offers: SalariedLoans.com has partnered with Tata Capital to give you customized Overdraft Facility offers.

Get Tata Capital Overdraft Interest Rate Quote & Offers:

Interest rates and processing fees are depends on the Company Category and Net Take Home Salary

Tata Capital OverDraft Features

Tata Capital Overdrafts work great as short-term funds; but only if you are certain about repayment. Otherwise, the interest rates can eat up a big chunk of the company's income. In such situations, a working capital loan is a better option than an overdraft. So the next time you are in a dilemma about whether to opt for an overdraft or not, keep the above tips in mind.

Documents Required to Process the Tata Capital Overdraft Account

For Overdraft Account, Tata Capital requires documents for verification that proves the authenticity of the borrower. Following are an overview of the documents generally asked while applying for a Tata Capital Overdraft Facility:

Identity Proof for Loan  Identity Proof - PAN / Aadhaar / Voter ID / Driving License / Passport Copy.
Address Proof for Loan  Current Address Proof - Driving license/ Passport Copy/ Latest Gas Bill with Gas Bond / Latest Property Tax Bill / Bank Passbook / Ration Card.
Age Proof for Loan  Age Proof - Pan Card / Aadhaar Card / Voter ID card / Passport Copy / Any Other Statutory authority Certificat.
Bank Statement for Loan  Bank Statement - Latest 3 Months Bank Statement required.
Company Id Proof for Loan  Company ID - For Employment Proof.
Payslips for Loan  Salary Payslips - Last 3 Months.
Photo Copy for Loan  Photo Copy - One Passport Size Photo.

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Eligibility Criteria for Tata Capital Overdraft Facility

For Overdraft Facility, eligibility will differs bank to bank. The eligibility will also gets differs with requirements and needs. Below are eligibility criteria to get an online Overdraft facility approval for salaried and self-employed individuals are listed:

Age Limit for Loan  Age - Minimum 23 years – Maximum 60 years.
Employment for Loan  Employement - You must be Salaried Employee.
Company for Loan  Company - Company must be 2-3 years MCA registered.
Bank Account for Loan  Bank Account - Should Have An Active Bank Account.
Income for Loan  Income - Stable employment with regular income of >= 40,000/PM in active bank account.
CIBIL Score for Loan  CIBIL Scores - Should have a decent and good Credit Record*.

Difference between Tata Capital Overdraft Facility and Regular Loan

Any indivisual who is in search of urgent funds from banks should know that Overdraft Facility is best option. It is difficult decide whether Normal Loan is best or Overdraft facility is best, the below information clears the difference between Normal Loan and Overdraft Facility:

Withdrawing Funds  Funds Withdrawal: - An overdraft facility is a form of credit which is offered to an Salaried individual based on a current account. In addition, the amount which is withdrawn varies depending on the customer’s requirement. However, a regular personal loan talks about a fixed amount which is borrowed from a specific bank highlighting a stated repayment duration.
Rate of Interest  Rate of Interest: - Considering an overdraft, the rate of interest is charged specifically on the borrowed overdraft amount and not on the stated limit; however, for a regular loan the rate of interest is applied on the whole amount borrowed, regardless if it is completely utilized or not.
Loan Period  Duration: - An overdraft is accessed for a lesser duration and the candidate isn’t allowed to borrow large amounts due to limits on credit. On the other hand, a Personal loan is accessible for a longer period, ranging from 3 to 5 years, with the availability to take large sums.
Loan Repayment terms  Flexible Repayment: - Overdraft Accountis flexible to repayment. You can call it more flexible when considering the payment scheme, this payment option would be made possible in a lump sum which can be shut anytime. With regular personal loans, EMIs are involved that need to be paid on a schedule. If the EMI payments are not made timely, it can harm the customer’s credit ratings..

Why opt for Tata Capital Overdraft Facility?

Overdraft EMI  EMI: - Pay EMI only on the amount used.
Time Process for Overdraft  Quick Process: - Quick Disbursal within 48 Hours of Application.
Collateral Free overdraft  Collateral Free: - Unsecured Loans that are absolutely collateral-free
Overdraft Utilization  Fund Utilization: - Utilize funds for any purpose without any regulation from the Lender.

Tata Capital Overdraft Process @SalariedLoans

Emergency Funds, Quick and Hassle Free Service
Overdraft Amount

Choose Loan Amount

Choose your loan amount and terms to use loan

Documents for Overdraft

Provide Document

Need to provide some basic document to verification

Approval time for Overdraft

Approved Loan

Our loan specialist ask fews question and verify documents.

Overdraft Money

Get your Money

Once loan aprroved you get loan amount credit.

Quick loan Process

Quick Loan

Customer Satisfaction


No Hidden Charges

No Prepayment or
Hidden Fees

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