What is an Overdraft Loan Calculator?
An Overdraft Loan Calculator helps you estimate the cost and limits of the Overdraft facility you can utilise, by analysing key factors such as your Current Account balance, outstanding debits, and applicable Overdraft fees.
More About
To use the HDFC Bank Overdraft Calculator, follow these steps:
Visit the HDFC Bank’s official website.
Navigate to the ‘Tools and Calculators’ section.
Select the ‘Overdraft Calculator’.
Select ‘Overdraft’ as the type of facility required.
Enter the required details, such as business activity, turnover (in lakhs), etc., to calculate your Overdraft Loan limit.
The calculator will instantly display your Overdraft Loan limit based on the information provided.
Application Form
Last 2 years Audited Financial statements.
Last 6 months Bank statements
Undertaking from Borrower regarding Laminated Documents (For Takeover Cases)
Copy of the sanction letter of the existing bank (For Takeover Cases)
ITR of latest completed FY
Sales (VAT) Tax Return of latest completed FY
KYC Documents
Frequently Asked Questions
To calculate an overdraft, you must first check your account balance and your overdraft limit. If your balance is negative, the amount of overdraft is the absolute value of the negative balance. If your balance is positive but less than the overdraft limit, subtract your balance from the overdraft limit to find the remaining amount you can overdraw.
Overdraft monthly interest can be calculated using the formula:
I = (OD×P×r) / (D)
Where:
I is the Overdraft Interest
OD is the Overdrawn
P is the Period or Days Until Repayment
r is the Annual Interest Rate
D is the number of days in a year (365 or 366 in a leap year).
An OD Loan EMI Calculator is an online calculator that helps you -compute your maximum Overdraft limit by analysing your account balance, pending transactions, and Overdraft fees.