Overdraft Facilities
Overdraft Facilities
Overdraft Facilities Consulting with Bizonics
Namaste! Welcome to Bizonics, your trusted loan consulting partner in India. We understand that managing finances can be tough, whether it’s a sudden expense during Diwali or a cash crunch in your business.
That’s why we’re here to guide you through Overdraft Facilities, a flexible way to access extra funds when you need them.
As loan consultants, we don’t lend directly, but we connect you with the best banks and financial institutions across India to get the right overdraft solution for you.
What Is an Overdraft Facility?
An overdraft facility allows you to withdraw more money than you have in your bank account, up to a limit set by the bank. It’s like a financial backup for times when you need a little extra cash.
Whether you’re paying school fees in Vadodara, buying stock for your shop in Surat, or handling an emergency in Ahmedabad, an overdraft can help.
Here’s a simple example: Imagine you have ₹10,000 in your account, but you need ₹15,000 to pay a vendor. If your overdraft limit is ₹10,000, you can pay the vendor, and your account will show -₹5,000.
You’ll only pay interest on that ₹5,000, not the full limit. It’s a smart way to keep your finances on track.
At Bizonics, we make the process easy. We work with top banks like HDFC, ICICI, SBI, and others to find an overdraft facility that fits your needs, with fair interest rates and terms that suit Indian customers.
Why Choose Bizonics for Overdraft Consulting?
As a loan consulting firm, we’re here to simplify your financial journey. We know India’s banking system can feel overwhelming, with so many options and paperwork. That’s where Bizonics comes in.
We guide you step-by-step to find the best overdraft facility, saving you time and effort. Here’s why people across India trust us:
Expert Guidance
Our team knows the ins and outs of overdraft facilities and will match you with the right bank.
Saves Time
We compare offers from multiple banks so you don’t have to visit branches or websites.
Tailored Solutions
We understand your unique needs, whether you’re a salaried person or a small business owner.
Hassle-Free Process
We handle the paperwork and follow-ups, making your experience smooth.
From small towns to big cities, Bizonics is your partner in finding the perfect overdraft facility.
What We Offer: Overdraft Consulting Services
Our consulting services are designed to make overdraft facilities accessible and stress-free. Here’s how we help:
Personalised Loan Matching
Every Indian has different financial needs. Whether you’re a shopkeeper in Vadodara needing ₹50,000 or a professional in Ahmedabad wanting ₹5,00,000, we find banks offering overdraft limits that suit your income, credit score, or business turnover.
Best Interest Rates
Interest rates vary across banks. We compare options to get you the lowest rates possible, ensuring you only pay interest on the amount you use. For example, if you use ₹20,000 of a ₹1,00,000 limit, you only pay interest on ₹20,000.
Quick Application Support
We guide you through the application process, from choosing a bank to submitting documents. Our team ensures you apply to banks with fast approval times, so you can access funds sooner.
Flexible Terms
Overdrafts don’t have fixed EMIs like loans. We connect you with banks offering flexible repayment options, ideal for businesses with seasonal income or households with varying expenses.
Ongoing Support
Need to increase your limit later? Facing issues with repayment? We’re here to advise you, negotiate with banks, and ensure your overdraft works for you long-term.
Benefits of an Overdraft Facility
With Bizonics’ consulting, you can unlock the full potential of an overdraft facility. Here’s how it can help Indian customers:
No More Cheque Bounce Worries
If you’re a business owner in Surat, a bounced cheque can upset suppliers and cost you fees. An overdraft ensures you can pay on time, up to your limit, keeping your business running smoothly.
Bridge Cash Flow Gaps
Running a startup in Pune or a clothing store in Surat? Cash flow can be unpredictable. An overdraft lets you pay rent, salaries, or suppliers while waiting for customer payments.
Handle Life’s Surprises
From a medical emergency in Vadodara to a wedding in Ahmedabad, unexpected costs are part of life. An overdraft gives you quick access to funds without relying on high-interest credit cards.
Cost-Effective Option
Since you only pay interest on what you use, overdrafts are often cheaper than personal loans for short-term needs. We help you find banks with competitive rates to save more.
Peace of Mind
Knowing you have a financial cushion lets you focus on what matters - whether it’s growing your business or enjoying family time during festivals.
Who Can Get an Overdraft Facility?
Overdraft facilities are available for both individuals and businesses in India. As your loan consultant, we’ll match you with banks that align with your profile. Here’s what most banks require:
For Individuals
- Be at least 21 years old.
- Have valid ID (Aadhaar, PAN, voter ID, or passport).
- Hold a savings or current account with the bank.
- Show steady income (salary slips, ITR, or bank statements).
- Have a good credit score (usually 700+).
For Businesses
- Be a registered business (proprietorship, partnership, or company).
- Have at least 2 years of operations.
- Provide financial statements for the last 2 years.
- Maintain a business current account.
- Meet the bank’s credit criteria.
Each bank has slightly different rules, but don’t worry – Bizonics will find the ones that best fit your situation.
| Eligibility Criteria | Individuals | Businesses |
| Minimum Age | 21 years | N/A |
| Account Requirement | Savings or current account | Business current account |
| Operation Period | N/A | At least 2 years |
| Documents Needed | Aadhaar, PAN, income proof, bank statements | GST registration, financial statements, ITR |
| Credit Score | Good score (700+) | Good credit history |
Key Things to Know About Overdraft Facilities
Here are some important points about overdraft facilities, based on our expertise:
- Limit Reviews: Banks may adjust your limit based on your account activity and credit score.
- Interest Rates: Rates are variable and depend on the bank. We help you find the lowest ones, and you can check current rates on the bank’s website.
- Repayment: You must repay the overdrawn amount plus interest. Non-repayment can lead to penalties or legal steps, as per RBI rules.
- Cancellation: Banks can modify or cancel the facility with notice, per regulations. You can also cancel it after clearing dues.
- Interest Calculation: Interest is calculated daily on the overdrawn amount and charged monthly.
- Fees: Some banks charge setup fees, annual fees, or penalties for low usage. We’ll highlight these upfront.
Why Work with Bizonics?
At Bizonics, we’re more than just consultants – we’re your financial allies. Here’s what sets us apart:
- India-Focused Expertise: We understand the needs of Indian customers, from festival expenses to MSME challenges.
- Wide Network: We partner with major banks and NBFCs across India, giving you more choices.
- Transparent Advice: No hidden fees or surprises. We explain everything clearly.
- Customer-First Approach: Your financial goals are our priority, whether you’re in a metro or a small town.
Got Questions?
We’re here to help! Contact our team via phone, email, or at a Bizonics office near you. We’ll answer your questions, explain overdraft facilities, and guide you toward the best solution. With Bizonics, your financial journey is in safe hands.
