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OD Business Loan (Non-Colletral)

OD Business Loan (Non-Colletral)

Overdraft Business Loan Non-Collateral is a type of business loan that does not require collateral. It is an ideal option for individuals who do not have the funds to deposit as security with a lender. It also offers top-tier flexibility and ease of disbursal.

The key difference between a business loan and an overdraft is the amount of money you can borrow and the interest rate charged. A business loan is used to meet high-value expenditures, purchase machinery or equipment, expand operations, invest in infrastructure, and more.

There are two types of business loans: secured and unsecured. Secured loans require applicants to pledge some form of collateral, such as a house or an insurance policy. The interest rates for a secured business loan are generally lower than those for an unsecured one.

An overdraft facility is an revolving loan that lets you access additional funds as and when your bank account balance falls below zero. It can be a good way to meet short-term cash flow requirements, such as meeting staff salaries or a small business emergency.


Most banks and NBFCs provide overdraft facilities to their customers and clients at an arrangement fee, plus interest on the overdrawn amount at the end of each day. There are also monthly or annual fees and charges, including a non-utilisation fee, depending on the size of the facility and on the lender.


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