Dukandar Overdraft Facility: Know More About this Collateral-Free Loan

If you need access to funds without the need for Business Loan, you can consider an Overdraft facility. With HDFC Bank’s Dukandar Overdraft Facility, you can receive a collateral-free loan, and obtain the capital you need watch your business scale. Keep reading to know more.

The HDFC Bank Dukandar Overdraft Facility is a collateral-free overdraft facility designed for eligible shopkeepers, retailers, wholesalers and traders. It provides access to funds up to a sanctioned limit, which can be used to cover eligible business and working capital requirements.

Unlike a regular Term Loan, an Overdraft facility allows you to withdraw funds as needed within the approved limit. Interest is generally charged on the amount utilised, subject to the facility's applicable terms and conditions.

When you apply for the same, you can enjoy the following features and benefits:

Loan amount

Under the HDFC Bank Dukandar Overdraft Facility, you can make the most of a wide range of loan amounts. The maximum loan amount offered is ₹10 Lakh. However, whether or not you are eligible for the facility depends on the information you provide during the application process. You need to provide accurate information pertaining to your requirements, existing financial details, etc., based on which the bank determines the Overdraft amount.

No collateral

If you have been looking for an instant collateral-free capital then the HDFC Bank Dukandar Overdraft Facility is an excellent fit. HDFC Bank understands the challenges that come with running a business and the support required to ensure its continued growth. Thus, we offer the Dukandar Overdraft Facility without asking for any collateral as security. Not only does this reduce the stress for applicants, but it also speeds up the processing time.

Basic Loan eligibility

At HDFC Bank, you can apply for the Dukandar Overdraft Facility by fulfilling very basic eligibility criteria. It is as follows:

• You must be a retailer, shopkeeper, wholesaler, trader

• You must be a proprietor or business partner in the business to apply.

• Your business must have been in operation for a minimum of three years.

• You must submit 12 months' bank statements of your personal and business bank account.
   

No financials or ITR submissions

Besides the basic eligibility criteria, you can benefit from HDFC Bank’s paperless documentation process. You do not need to provide financial statements, copies of your IT returns, CA certificates, etc. All you need to submit is a PDF copy of your bank statement while applying for the HDFC Bank Dukandar Overdraft facility.

Quick processing:

As mentioned earlier, you do not need to provide collateral to avail of the Dukandar Overdraft Facility. Moreover, the eliminated physical documentation process, allows the banks to assess your Overdraft request faster. This in turn, leads to quicker processing, giving you rapid access to the required capital.

Easy application:

Applying for the HDFC Bank Dukandar Overdraft Facility is seamless and straightforward. You can choose to apply in person by visiting an HDFC Bank branch near you. However, if you want to avoid the commute and queues, you can leverage the collateral-free facility online. With a few taps or clicks, you can use the HDFC Bank NetBanking platform and HDFC Bank app to apply for the Dukandar Overdraft Facility from anywhere, anytime.

Get the capital to grow your business without providing collateral with the HDFC Bank Dukandar Overdraft Facility. Quick, convenient, and designed to meet your needs, the Dukandar Overdraft Facility will make your life easier.

Click here to apply today!

To learn more about the various products and services at HDFC Bank that can benefit your enterprise, you can check out the MyBusiness page

*Disclaimer: Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. 

HDFC Bank recognises the challenges entrepreneurs face while acquiring capital. Thus, HDFC Bank has created MyBusiness, a one-stop solution that gives you easy access to loans, digital solutions and provides you with the essential knowledge you need to run your business. With HDFC Bank MyBusiness, you can scale up, expand your operations, and nurture your business.