Boost Your Life with Personal Loan (PL-OD)

A personal loan overdraft (OD) combines features of a personal loan and a line of credit. Here's a breakdown of how it works:

• Credit line: The lender approves you for a specific amount, similar to a credit card limit. This is your maximum borrowing limit.
• Flexibility: You can withdraw funds up to your limit as needed, unlike a traditional personal loan where you receive the entire amount upfront.
• Interest: Interest is typically charged only on the amount you borrow, not the entire credit limit. This can save you money compared to a personal loan if you don't need the entire amount all at once. The interest rate starts from 13% for PL-OD (Personal Loan - Overdraft).
• Repayment: You can repay the borrowed amount as per your convenience. Some lenders may require minimum repayments during the term.

Here are some benefits of a personal loan OD:

• Increased access to funds: Provides a buffer for unexpected expenses.
• Interest savings: Only pay interest on what you use.
• Convenience: Manage withdrawals and repayments easily from your linked account.

Here are some things to keep in mind:

• Approval: Not everyone qualifies for a personal loan OD. Lenders consider your creditworthiness and income before approving you for a credit limit.
• Interest rates: Interest rates on personal loan ODs can be higher than those on traditional personal loans.
• Temptation to overspend: The easy access to funds can lead to overspending if not managed responsibly.

    Get started today!

Powered by Froala Editor