Salary Overdraft
Flexible Credit for Salaried Professionals
A pre-approved credit limit linked to your salary account. Use funds anytime and pay interest only on the amount you use.
Check Salary Overdraft EligibilityWhy Salary Overdraft?
- Credit line based on your salary
- Withdraw & repay anytime
- Lower interest than personal loans
- Pay interest only on utilized amount
What is a Salary Overdraft?
A Salary Overdraft is a flexible credit facility designed for salaried professionals. A credit limit is sanctioned based on your monthly salary, allowing you to withdraw funds anytime and pay interest only on what you use.
Linked to Salary Account
Reuse Credit Anytime
Lower Interest Cost
Interest on Used Amount Only
Salary Overdraft vs Personal Loan
Personal Loan
- Interest charged on full loan amount
- Fixed EMI every month
- Loan ends after tenure completion
- Need to reapply for fresh funds
Salary Overdraft
- Pay interest only on the amount you use
- Flexible repayment as per cash flow
- Credit line remains active
- Reuse your limit multiple times
How Salary Overdraft Works
Salary Overdraft gives you a ready credit line linked to your salary account. Use funds anytime and pay interest only on what you actually use.
Salary-Based Limit
A credit limit is approved based on your monthly salary and employment profile.
Withdraw Anytime
Withdraw money partially or fully whenever needed, directly from your linked salary account.
Pay Interest on Usage
Interest is charged only on the amount you use, not on the entire approved limit.
Reuse Credit
As you repay, your credit limit gets restored and can be reused multiple times.
Eligibility & Documents Required
Salary Overdraft is specially designed for salaried professionals. If you meet the basic eligibility and have these documents, you can apply easily and digitally.
Who is Eligible?
- Salaried individual aged between 21 and 60 years
- Minimum monthly salary as per lender criteria
- Salary account with a recognized bank
- Stable employment with minimum work experience
- Decent credit history preferred
Documents You Need
- PAN Card
- Aadhaar Card or address proof
- Latest salary slips (last 3–6 months)
- Bank statement (salary account – last 6 months)
- Employment ID or appointment letter (if required)
When Salary Overdraft Makes More Sense
Salary Overdraft is not for every situation — but in these cases, it works better than a traditional personal loan.
Short-Term Cash Gaps
When you need funds for a short duration and plan to repay quickly, overdraft saves interest compared to a personal loan.
Irregular Expenses
Medical bills, travel, or sudden expenses where the amount and timing are uncertain.
Partial Fund Requirement
When you don’t need the full amount at once and want flexibility in withdrawals.
Stable Salaried Professionals
Ideal for employees with steady income who want emergency liquidity without long-term debt.
Interest Cost Control
If minimizing interest outflow matters more than predictable EMIs, overdraft works better.
Quick Access to Funds
Once approved, funds are always available — no need to reapply each time.
Ready to Use Salary Overdraft?
Keep a flexible credit line linked to your salary account and use funds whenever required. Pay interest only on what you use, without the burden of fixed EMIs.
Check Salary Overdraft EligibilitySalary Overdraft – FAQs
Salary Overdraft is better when you need flexible access to funds and want to pay interest only on the amount you actually use.
No. Checking your Salary Overdraft eligibility through CrediIndia does not impact your CIBIL score.
The overdraft limit depends on your monthly salary, employer profile, and credit history.
No fixed EMI. You can repay as per your convenience, and interest is charged only on the utilized amount.
Not Sure Which Option Is Right?
Both Personal Loan and Salary Overdraft serve different needs. Choose what fits your financial situation better.
Personal Loan
Best when you need a fixed amount for a specific purpose and prefer predictable EMIs over a fixed tenure.
Explore Personal LoanSalary Overdraft
Ideal if you want flexible access to funds and pay interest only on what you use, without long-term EMI pressure.
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