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January 13th, 2018, 01:43 PM
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Join Date: Mar 2012
Re: Overdraft Facility Kotak Mahindra Bank

The Borrower agrees to avail from the Bank and the Bank agrees to grant to the Borrower upon the terms and subject to the conditions mentioned in this Agreement, an overdraft facility (“the Overdraft Facility”) upto the Maximum Overdraft Limit specified in Item No. V of Schedule A.

The said Maximum Overdraft Limit is the maximum limits that the Bank may allocate to the Borrower and would be subject to such further lower operating limits (“Operating Limits”) that the Bank may from time to time stipulate.


Utilisation of the Overdraft Facility/ purpose of the Overdraft Facility (a) The Borrower shall, subject to the Operating Limits and other provisions of this Agreement including the fulfillment of Conditions Precedent as set out in Article 4, be entitled to operate/ utilize the Overdraft Facility by making drawals from the said Account in one lumpsum or in suitable installments as the Borrower may deem fit


Fees , Charges Alteration in Overdraft Facility

The Bank may, in its sole discretion, levy on the Borrower Annual Review Charges at the rate indicated in Item No. XV of Schedule A hereto or at such rate as the Bank may deem fit and proper for the Review done by the Bank of the Borrower’s Account as provided in this Agreement. The Borrower hereby irrevocable authorizes the Bank to debit the said Account with an amount equal to the Annual Review Charges as and when levied by the Bank.

Mode of Payment, Time, Place et
c. (a) For repayment of the Dues under this Agreement the Borrower shall simultaneously with the execution of this Agreement hand over to the Bank such number of undated, inchoate and duly signed cheques with the Bank

For more Information you may Consider the below Attachement that is Free to Download

Overdraft Facility of the Kotak Mahindra Bank



Attached Files
File Type: pdf Overdraft Facility of the Kotak Mahindra Bank.pdf (153.9 KB, 167 views)


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