Interest Savings
Pay interest only on the amount utilized from your overdraft limit, leading to potential savings on interest costs compared to traditional loans.
Home Loan Overdraft
Our Home Loan Overdraft facility merges the advantages of a traditional home loan with the flexibility of an overdraft. This innovative solution allows you to deposit surplus funds into your loan account, reducing the overall interest while providing the freedom to withdraw excess funds when needed. Especially suitable for borrowers with fluctuating income, this facility offers significant savings and flexibility over standard home loan structures, making it an ideal choice for efficient financial management.
Features
Withdrawal Flexibility
Access funds up to your sanctioned limit anytime, offering the flexibility to manage unexpected expenses without new loan applications.
Repayment Flexibility
Deposit any surplus amounts to reduce the outstanding balance, with the freedom to redraw these funds as needed, offering a convenient way to manage cash flow.
No Prepayment Penalty
Benefit from the ability to pay off your loan ahead of schedule without incurring any prepayment charges, providing a cost-effective way to manage debt.
Advantages of Home Loan Overdraft
Interest Savings
Interest is charged only on the used portion of the overdraft amount, leading to significant interest savings.
High Flexibility
Offers high flexibility with funds, allowing withdrawals and deposits as per your financial flow without any penalty.
Immediate Access to Funds
Provides instant access to funds up to the sanctioned limit, ensuring liquidity for unexpected expenses.
Optimal Cash Utilization
Enables optimal utilization of idle cash by allowing deposit in the overdraft account, thus reducing the interest burden.