Drop Line Overdraft Limit (DOD)

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Drop Line Overdraft Limit (dod)

A DOD/OD can be taken as a capital credit limit to grow your business. The proceeds of a loan against property can be used for any legitimate purpose. P&K Financial Services, we research the entire options of DOD/OD for you and handpick the one that best suits your objectives.


Your eligibility is determined after looking at the following

  • The current market value of your property and its current status
  • Your current Income and business turnover
  • Your current obligations i.e. the other installments (EMIs) you are currently paying, the number of credit cards and credit limits you have or use
  • Your past credit history


Drop Line Overdraft Limit (DOD) FAQS

You can start the process of applying for a Drop Line Overdraft Limit (DOD) in any of the following ways:

• Compare offers from different banks
• Check your eligibility basis the income and current loans being serviced
• Apply online with multiple banks, to assess the best & competitive loan offers

From the day an application is being given, banks usually take about 8 – 10 working days to disburse the proposal. This is subject to complete information & documentation given at the time of the application.

A Drop Line Overdraft Limit (DOD) has many advantages over a Top-up Loan. They include:

• A Higher Loan Amount: Typically, anDOD/OD may offer a higher loan amount than a Top-up Loan.
• Avail of Different Property: While an LAP can be availed of against a different residential or   commercial property than the one for which the loan was originally taken, a Top-up Loan may   only be taken against the property already in question. This flexibility allows you to both avail of a higher loan amount and spread your liability.
• Longer tenure: An LAP can be availed for a long term than a Top-up Loan

Drop Line Overdraft Limit (DOD)can be availed for a self-occupied residence or a commercial property.

You can get a Drop Line Overdraft Limit (DOD) from Rs. 11 lakhs to Rs. 2000 lakhs. Some of the factors that banks consider when deciding a loan amount are:

• The property’s market value
• Your requirement and eligibility
• Your income and repayment capacity

Yes! Some banks structure Drop Line Overdraft Limit (DOD) either as a CREDIT LIMIT witha MONTHLY WITHDROWING LIMIT based interestcapitalized and serve with customer or as a Drop-line Overdraft Facility.

P&K Financial provide all Banks DOD/ODs for salaried /Business customers.

Along with your application you need to submit the following documents:

• Latest 3 Years financial documents
• Copies of all property documents

If someone is the co-owner of the property in question, it is necessary that he/she also be the co-applicant on the loan. You may also consider adding your spouse or parents or children as co-applicants to boost the eligibility on your loan.

Yes, banks charge a non-refundable processing fee for every DOD/OD application. The processing charge to avail a DOD/OD is up to 1% of the loan amount plus service tax as applicable.

There may be. It’s always wise to completely read the “Charges Section” of the loan agreement before signing the same.

The Intrest will be due on a fixed date each month. You will be notified of this date when your loan amount is disbursed.

You may place request for Interest Certificate in either of the following ways:

• By calling the bank’s Call Center at any of their toll free numbers:
• By using your registered email id the to write to the loans department of the respective bank
• Walk-in person to the branch to get the physical statements

Before foreclosure is processed, all outstanding dues must be cleared. So first check for and clear any remaining amount that may be payable towards your DOD/OD by requesting a foreclosure statement from your lender. Once all outstanding dues have been cleared, submit a foreclosure request at the Loan Center.

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