Salary Plus

Why Choose Us?

Convenient

Monthly Interest

No Documentation

What’s in store for you

Get Instant Funds with Salary Plus Overdraft!

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Salary Plus

Interest Rate for Salary Plus Overdraft

Starting from 16 %* p.a.

(Terms & Conditions Apply*)

View Rates

Key Features of Salary Plus Overdraft

Features and Benefits

Credit-line amount 

  • Get up to three times your salary as per Eligibility .
  • Enjoy an overdraft upto ₹5 lakh *(subject to meeting the bank policy and appraisal norms).

Tenure

  • The facility is extended for a period of one year (12 months). 
  • The limit can be renewed post 12 months subject to meeting the bank policy and appraisal norms. 
  • The renewal fee (charged at the time of renewal after 12 months) is Nil. 

Repayment

  • Pay interest only on the amount you use, and for the duration you use it.  
  • This is a non-EMI product, and you have to service only the interest every month.  

Foreclosure

  • Closure of overdraft limit possible at anytime without any penalty or charges.
Features and Benefits

Fees & Charges

Government taxes and other levies as applicable will be charged over and above the Fee and Charges. Limit Sanction and Renewal at the sole discretion of HDFC Bank Ltd.

Fee Amount To be Paid
Interest Rate on Utilisation 16% to18%* p.a.
Limit Processing Charges Upto Rs 1999/-
Annual Renewal Charges: NIL
Stamp Duty & Other Statutory Charges As per the state law
Legal/Incidental Charges At actuals
Underutilization charges NIL
Pre-Payment Charges NIL
Annual maintenance charges NIL
Amount utilized above the Operating Limit Interest rate of 24% p.a. will be levied on the amount utilized above the Operating Limit of overdraft facility
Overdraft Limit Cancellation Overdraft limit cancellation is allowed within
cooling off/look-up period of 3 days from the
overdraft limit set/ disbursed date. In the event
of overdraft limit cancellation, interest will be
borne by the customer on the withdrawn / utilized limit. Processing Fee, Stamp duty ,
other statutory charges and GST are
non-refundable charges and would not
be waived/refunded in case of limit cancellation.
Fees & Charges

Most Important Terms and Conditions

  • *The Most Important Terms and Conditions for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose
    Most Important Terms and Conditions 

    •  

Most Important Terms and Conditions

More about Salary Plus Overdraft

Salary Plus Overdraft comes with unique features like the ability to avail up to Rs.5 lakh overdraft facility. Speedy disbursal and easy application process are the other advantages of availing from HDFC Bank.

  • Competitive interest rate
  • Flexible repayment options
  • Speedy disbursal  
  • Easier to meet your financial needs

It’s a pre-offer based facility. You can login into Net banking portal. One can also call the Phone Banking assistance facility or visit the nearest branch of HDFC Bank

Check Offer

OR

Follow these simple steps by logging into NetBanking: 

  • Log in to HDFC Bank Net-Banking portal
  • Click on the ‘Offers’ tab; Click on your pre-approved Salary Plus overdraft offer banner.
  • Complete the application form
  • Accept ‘Terms & Conditions’ to activate the facility
  • The Credit line will be set up in 10 Seconds
  • Instantly the new account will be opened in which the credit line limit will be set for utilisation

Note: The eligibility & the value of the limit is subject to meeting the bank policy and appraisal norms

Frequently Asked Questions

Never fret over unexpected medical bills or trim down your expenses due to insufficient funds. With Overdraft on Salary, you can access an overdraft of up to ₹5 lakhs and pay interest solely on the amount utilised and the duration of its use. This feature is simple to activate, demands no paperwork, and ensures instant limit set up in your account.

Yes

No, Only Interest servicing amount to  be paid on Utilisation of Amount

Interest on utilised OD amount is debited at the end of every month. You get 4 days grace period. To service the interest, a Standing Instruction is auto-executed on the 4th of each month from the linked salary account.

Loans are generally more appropriate for long-term financial needs, with repayment periods spanning from 5 years to 20 years or beyond. Conversely, overdrafts serve as short-term credit solutions, ideal for addressing immediate fund requirements.

It's a pre-approved offer. The eligibility and limit value is subject to meeting the bank policy and appraisal norms

To send email on lasmumbai@hdfc.bank.in for closure of the account