tollfreeराष्ट्रीय टोल फ्री नंबर1800 425 00 000
financial Result

Online OD Against Deposit

Online OD Against Deposit

  • e-OD is available for Retail Net Banking Customers & Mobile banking Customers, who have Term Deposits accounts in individual name.
  • The applicable Rate of Interest for this e-OD Product is 1% over the Term Deposit rate. For Staff (including Retirees), it is 0.50% over the deposit rate.
  • Separate e-OD account is to be opened for each Term Deposit account.
  • The expiry date of e-OD will be the maturity date of the Term Deposit Account.
  • Minimum Overdraft Limit: Rs.1000.00, Maximum Overdraft Limit: Rs.10.00 Lakhs

Benefits of the scheme:

no visit to branch

no physical documentation

no guarantee/collateral security

Customers shall avail OD online through the following modes:

Net Banking – Click here

Mobile Banking (Download “Ind Oasis” App from Google Play Store for Android devices and App Store for Apple devices)

FAQs for Online OD Against Deposit

What is e-OD against deposits?

It is a digital product. Which allows you to take loan on your existing deposits.

How can I apply for e-OD against deposits?

You can apply for e-OD against deposits in both Internet banking and mobile banking “IndOasis” platform.

Whether e-OD against deposits is applicable for both online and offline deposits?

Yes, this facility is allowed against both online and offline deposits.

At which branch I can avail e-OD against deposits?

Customers can avail this facility in both Internet banking and mobile banking “IndOasis” platform. The loan account will be parked at the Branch where the Deposit account is maintained.

Where I can see the applicable interest rate under e-OD against deposits?

It will be displayed on the sanction terms and conditions acceptance screen.

What is the interest rate for e-OD against deposits?

For General Public: Deposit Rate + 1%

For Staff & Ex-Staff: Deposit Rate + 0.50%

What is the loan tenor?

It is a running account. OD will be applicable up to the maturity period of deposits.

Are there any Service Charges?


Whether the pre-payment/Foreclosure is available?

The Loan may be pre-paid/foreclosed at any point of time within the repayment tenor. There is no option for online closure of this account. Customer has to request his home branch for closure.

Is there any penalty for pre closure of loan?

No pre closure penalty.

If loan is pre closed whether again, can I avail e-OD against deposits?

Yes, as per the norms of the Bank.

Is the e-OD against deposits can be availed jointly?

It can be availed only by individuals.

Does the loan require a guarantor?


Who is eligible to avail this facility?

Only Individual customers

Any age limit is prescribed for availing this facility?

Yes. Minimum entry age is 21 years.

What is the minimum and maximum loan amount offered?

Minimum loan amount is Rs.1000/- and Maximum loan amount is Rs.10,00,000/- subject to 90% of the deposit face value.

What is the minimum CIBIL score for e-OD against deposits?

Not applicable

What are the eligibility criteria for e-OD against deposits?

Customer should be having term deposits (except Variable Recurring Deposit) with our bank.

What are the documents required for e-OD against deposits?

Customer need not to submit any document.

Should I visit the branch for documentation?

Not required.

How much time does it take for e-OD against deposits and disbursal?

It is an instant facility. The limit is approved through digital mode.

What are all the additional facilities available in this e-OD against deposits?

➢ Cheque book will be provided

➢ Cash Withdrawal also allowed through the Branch

Who are all not eligible to avail this facility?

Non-Personal customers are not eligible NRE/NRO customers are not eligible Either or Survivor and Joint deposits and minor deposits operated by guardian are not eligible. Variable Recurring Deposit (VRD) customers are not eligible.

( अंतिम संशोधन Apr 20, 2024 at 05:04:20 PM )

ChatBot Logo