Achieve Your Goals with an Salary Overdraft Loan
Submit your salary account details and basic documents such as ID, address, and income proof.
CredMart evaluates your creditworthiness and approves the overdraft limit based on your salary and repayment history.
Once approved, you can access the overdraft facility directly from your salary account and use it as needed.
Features and Benefits of Salary Overdraft
A salary overdraft is a credit facility linked to your salary account, allowing you to withdraw more than your account balance up to a pre-approved limit. It’s a flexible financing option with benefits such as:
⦿ Debt management: Consolidate short-term expenses without additional loans.
⦿ Emergency funds: Access instant cash during financial emergencies.
⦿ Flexible repayment: Pay only interest on the utilized amount.
Eligibility Criteria for Salary Overdraft
⦿ Age: 21-60 years
⦿ Net monthly salary: ₹15,000 or above
⦿ Credit score: 650+
⦿ Employment stability: Minimum 6 months with current employer
Documents Required
⦿ Identity proof (Aadhaar, PAN, Passport)
⦿ Address proof (Utility bills, Aadhaar)
⦿ Salary slips (last 3 months)
⦿ Bank statement (6 months)