Top 5 Overdraft Loan Providers in India

Top Five Overdraft Loan Providers in India image By Bravima Solution Team

When it comes to managing short-term financial needs, many people immediately think of a personal loan. But did you know there’s a smarter, more flexible alternative? That’s right — overdraft loans. With this facility, you only pay interest on the amount you actually use, unlike personal loans where interest is charged on the full amount.

At Bravima Solution Pvt Ltd, we partner with top NBFCs and banks to help you access the best overdraft loans across India. Whether you are a salaried professional, freelancer, or small business owner, overdraft loans can help you cover urgent expenses without heavy EMIs.

What is an Overdraft Loan & How Does It Work?

An overdraft loan allows you to withdraw more money than what is available in your account, up to a pre-approved limit.

Example: If your bank approves an overdraft of ₹5,00,000, you can withdraw as much as you need within this limit. If you use only ₹1,00,000, you’ll pay interest only on that amount — not on the full ₹5,00,000.

Key Benefits:

Pay interest only on the utilized amount
No fixed EMI like a personal loan
Flexible repayment options
Instant access to funds for emergencies

This makes overdraft facilities popular among:

Salaried employees in metro cities like Delhi, Mumbai, Hyderabad
Small & medium business owners
Freelancers with irregular incomes

Top 5 Overdraft Loan Providers in India

NBFC / Bank	Interest Rate (Approx)	Eligibility Criteria	Loan Limit	Best For
HDFC Bank	15% – 18% p.a.	Salaried / Self-employed	₹25,000 – ₹1.25 Lakh (for “Salary Plus” overdraft)	Salaried employees who need small overdrafts
ICICI Bank	*[Estimate: ~11% – 18% p.a.]*	Self-employed / SMEs (estimated)	~₹2L – ₹40L (estimated)	Business owners
Kotak Mahindra	*[Estimate: 11% – 20% p.a.]*	Salaried & Freelancers (estimate)	~₹3L – ₹25L (estimate)	Freelancers & SMEs
Tata capital	13% p.a. onwards for Flexi / their overdraft-like products	Salaried, Self-employed	~₹2L – ₹30L (estimate)	Instant approvals, flexible withdrawals
Bajaj Finserv	13% p.a. onwards for Flexi / their overdraft-like products	Salaried, Self-employed	Up to ₹25 Lakhs in many Flexi loan variants	Instant approvals, flexible withdrawals

Short on Cash? Quick Overdraft Loans to the Rescue!

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Notes / Caveats

HDFC Bank (Salary Plus / Overdraft): The “Salary Plus” overdraft facility offers overdraft limit up to ₹1.25 lakh, with interest between 15–18% p.a. for the overdraft usage.
Bajaj Finserv Flexi: Their Flexi Personal Loan begins from ~13% p.a. for overdraft-like usage / flexi usage.

Benefits of Choosing an Overdraft Loan Over a Personal Loan

Many borrowers ask us: Is overdraft better than personal loan?

Here’s why overdraft loans can be the smarter choice:

Pay only for what you use – No need to pay interest on unused funds.
Flexible repayment – No fixed EMI burden.
Instant liquidity – Great for emergencies like medical bills or urgent purchases.
Reusable credit line – Similar to a credit card, but with higher limits.

👉 For short-term or unpredictable expenses, overdraft loans are usually more cost-effective than personal loans.

Who Can Apply for an Overdraft Loan in India?

Overdraft facilities are available for:

Salaried Employees (especially those working in IT, MNCs, private companies)
Self-employed Professionals like doctors, CA, lawyers
Small & Medium Businesses who need working capital
Freelancers with irregular income streams

Basic Eligibility:

Age: 21–60 years
Stable income proof
Good CIBIL score (preferably 700+)
Existing bank account relationship (in some cases)

Why Choose Bravima Solution for Overdraft Loans?

At Bravima Solution Pvt Ltd, we are a trusted loan aggregator that connects you with top NBFCs and banks in India.

Here’s why borrowers prefer us:

Multiple Options at One Place → No need to apply separately at different banks.
Expert Guidance → We analyze your profile & recommend the best overdraft provider.
Faster Approvals → With our NBFC tie-ups, you get priority processing.
Pan India Coverage → Whether you are in Delhi, Mumbai, Bangalore, or Tier-2 cities, we can assist.

💡 Example: A salaried IT employee in Delhi required quick funds for a medical emergency. Through Bravima Solution, he secured an overdraft facility from HDFC Bank within 24 hours.

Avoid Bounced Checks—Apply for an Overdraft Loan Now!

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FAQs on Overdraft Loans in India

Q1: Which bank is best for overdraft loan in India?
A1: HDFC, ICICI, Kotak, Axis, and Bajaj Finserv NBFC are among the top providers. The “best” depends on your income profile, CIBIL score, and requirement.

Q2: Is overdraft better than a personal loan?
A2: Yes, overdraft is often better for short-term needs since you pay interest only on what you use, unlike personal loans where interest applies on the entire amount.

Q3: Can salaried employees apply for overdraft loans?
A3: Absolutely. Many banks and NBFCs provide overdraft facilities to salaried professionals with stable incomes.

Q4: What is the maximum overdraft limit in India?
A4: It ranges from ₹1 lakh to ₹50 lakh depending on your income, credit score, and lender policies.

Final Thoughts

Overdraft loans are becoming a preferred choice for Indian borrowers who want flexible credit without EMI stress. With options from leading banks and NBFCs, choosing the right lender is the key to saving money.

Instead of doing the hard work yourself, let Bravima Solution Pvt Ltd help you. Our experts compare multiple overdraft providers and ensure you get the best deal with fast approvals.👉 Ready to explore the best overdraft loans in India?