Yes Buddy!!! State Bank of India offers Facility of Overdraft below I am providing you details related to this Facility:

Eligibility Criteria for Over Draft:

Candidate having minimum 6 months of residual service and having salary account with us has regular salary credits.


Durations/Limitation:

Depending on your eligibility, the maximum amount you can avail as an overdraft up to 2 times the Net Monthly salary, subject to certain monetary ceiling.

The facility operates in the form of a short term loan for use during short-term exigencies.

The overdraft is repayable in 6 months. However the customer can apply to the Branch to convert this overdraft to a Personal Loan account with higher limit, based on his eligibility at the discretion of the Bank.

Salary credits required in existing account to qualify for overdraft
Minimum 3 salary credits are required.


Features and benefits of the overdraft facility in Salary Package Account

-up to 2 times Net Monthly Salary, Overdraft limit set up on the existing CSP account, Overdraft amount repayable in 6 EMIs

-Minimum documentation

-No processing fees

-No pre-closure charges

-Easy-to-use and easy-to-pay facility

-Freedom to use limit through Cheque book, ATM, online transfer, etc.,

-Interest payable only on the utilized amount, Monthly Salary and other Credits in the account help save interest