Get Quick Disbursal of
Business Overdraft

There are certain benefits that overdraft loans offer to customers They are a one-stop solution for people who are in need of quick cash. The overdraft facility interest rate is lower than that of payday loans and credit cards. Overdraft loans are easier to approve than any other loan. The overdraft loans can be applied for and approved in three easy steps with My Mudra. My Mudra is offering the lowest interest rates on overdraft loans.

The interest rate for the for the Business Overdraft is 14% R.O.I.

Here are a few common drawbacks of overdrafts: Interest Costs: Overdrafts typically come with high-interest rates compared to other forms of credit. The interest is charged on the overdrawn amount, and if the overdraft is not repaid promptly, the interest charges can accumulate quickly, leading to increased debt. Fees and Charges: Financial institutions often impose fees and charges associated with overdraft facilities. These may include annual fees, transaction fees, and penalty fees for exceeding the approved limit or making late payments. These additional costs can add up and increase the overall cost of borrowing. Credit Limit Restrictions: Overdraft facilities usually have a predetermined credit limit set by the financial institution. This limit may not always be sufficient to cover all financial needs or unexpected expenses. If the overdraft limit is exceeded, additional fees or declined transactions may occur, leading to inconvenience or financial strain.

The person who has citizenship of India, and lies in the age of between 21-55 years with the required documentation is eligible for OD.

My Mudra is offering Business Overdraft Facility at 14% R.O.I.