GET A CALL BACK

Want us to help you with anything?
Request a Call back

This field is required Only alphabetes are allowed
This field is required Only alphabetes are allowed
Please enter valid number
Please enter valid email
Please select product type
Please enter valid pincode

Thank you for your request.

Your reference number is CRM

Our executive will contact you shortly

Overdraft Against Corporate Fixed Deposits Use FD to raise funds without breaking it

Fixed Deposit can a help you with your short and long-term funding requirements, while you earn an interest on it. You can avail an Overdraft against your Fixed Deposit, instead of breaking the deposit, prematurely.

Know more
mobile-banking.png

Benefits

Overdraft can be availed against the self and third party FDs

OD can be sanctioned, up to 90% of your FD value

Flexibility of tenure, with a maximum tenure of 18 months

Nil processing fees

Nil pre-payment charges

Customer friendly interest rates

Easy documentation

OD auto-renewal facility.

ODFD for Corporates through CIB

 

Select

Tenure, OD Amount & FD Accounts

Accept

Terms & Conditions

Verify

With OTP & Grid Card Values

Insta ODFD on CIB – One Time Registration & 3 Simple Steps

One-Time Registration: Branch to raise request for a one time workflow setup after which customer has access to avail OD in Three Clicks 

Documentation – Insta ODFD

  • Application for Facility
  • Request Letter
  • Board Resolution or equivalent document for partnership, trusts etc

*Submission of Documents to be done just once, post-which client can avail fully digital and paperless ODFD Facility

FAQ- Avail OD against FD through CIB

 Insta ODFD facility is available for Corporates-Partnership firms, Companies, HUF and LLP. The facility can be availed by customers through One-Time Registration and workflow setup in Corporate Internet Banking (CIB).

The Insta ODFD facility can be availed after workflow has been setup in CIB. To enable workflow

  • For existing customers: Branch needs to raise an Omniflow track with request letter signed as per i-core MOP and relevant ODFD clauses in board resolution
  • For new customers: Branch needs to raise an Omniflow track with Channel Registration Form (CRF) and relevant ODFD clauses in board resolution.

 The maximum amount that can be availed from Insta ODFD is Rs.10 Crores. The maximum number of FDs that can be paired to avail Overdraft is 7.  

  If the customer’s account has more than 10 crores mapped to their account number, then the customer has to avail overdraft against their Fixed deposits through the offline mode. 

  If the customer’s account has more than 7 FDs mapped to their account number, then the customer has to avail overdraft against their Fixed deposits through the offline mode.

 Users are required to authenticate using grid card values and OTP

 The maximum tenure for which Insta ODFD can be availed is the tenure of the earliest maturing FD or 18 months, whichever is earlier