#1
June 4th, 2016, 02:23 PM
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SBI OD Account
Hello sir I want to know about the overdraft account in state bank of India. Can any one here provide me detail about the SBI OD account?
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#2
June 4th, 2016, 02:48 PM
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Re: SBI OD Account
The overdraft account of SBI is same as saving accounts. The difference is in saving accounts have 0 minimum balances but in overdraft account can have negative minimum balance equal to your house loan amount. If you have taken a loan of 3 Million, then you can see drawing power = amount of loan certified. The interest percentage for this account is as per the bank's home loan interest rate. Currently for SBI, it is 10%. SBI overdraft account Advantage: Avail Loan up to 90% of the value of your Time Deposit Both Demand Loan and Overdraft Facility as per your need Low interest rates bank charge interest on a daily reducing balance!! Zero processing charges; No prepayment penalties Eligibility: Customers holding SBI’s TDR/STDR / RD / including NRE/NRO/RFC and FCNR(B) Deposits can avail this loan. Single Account Holder can also avail Overdraft against TDR and STDR online through Internet Banking platform Amount of Loan (For Online Overdraft against Fixed Deposit) Min: Rs 25000 Max: Rs 5 Crore Margin : Avail loan up to 90% of your Time Deposit value Security Lien on underlying Time Deposit |
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