Flexiloan/Overdraft – Flexible Credit

Unexpected expenses don’t wait for payday. With an Overdraft Personal Credit Line from RupeeQ, you can access funds instantly whenever you need them—and pay interest only on the amount you use.

Whether it’s covering urgent bills, managing cash flow, or seizing a sudden opportunity, a personal overdraft gives you the flexibility of revolving credit without reapplying for a loan each time.

Why Choose an Overdraft Personal Credit Line with RupeeQ?

  • Pre-approved limit from top banks & NBFCs
  • Interest only on amount used
  • Flexible repayment options—repay partially or fully anytime
  • Revolving credit facility—reuse your limit without reapplication
  • Quick digital approval through RupeeQ
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What is an Overdraft Personal Credit Line?

An Overdraft Personal Credit Line works like a personal loan with added flexibility. You get a sanctioned credit limit, but you only pay interest on the portion of funds you withdraw.

For example: If you have an overdraft limit of ₹5 lakh but only withdraw ₹1 lakh, interest is charged on ₹1 lakh—not the full ₹5 lakh limit.

How It Works

Ravi is a salaried professional who often faces irregular expenses medical bills, school fees, and home repairs. He decides to take a standard personal loan of ₹3 lakh at 12% p.a. for 3 years. However, he realizes he doesn’t need the full amount at once. After checking offers on RupeeQ, Ravi chooses an Overdraft Personal Credit Line with a limit of ₹3 lakh at the same 12% p.a.

In the first month, Ravi withdraws ₹80,000 for a medical emergency and pays interest only on that amount. Two months later, he repays ₹50,000, reducing his interest outgo. A few months later, he withdraws ₹1 lakh for home repairs. Over the year, Ravi’s total interest paid is much lower than a regular personal loan, because he pays interest only on the funds he uses. This flexibility helps him manage cash flow while keeping borrowing costs under control.

How It Works

Features and Benefits of Benefits of Overdraft Credit Line

Flexible Withdrawals

Use funds when needed, repay anytime


Interest on Usage Only

Pay interest on the amount you use, not the total limit

Revolving Credit

Reuse your limit after repayment


Instant Access

Withdraw funds instantly via netbanking or mobile app


No Prepayment Penalty

Repay early without extra charges (varies by lender)

Who Should Consider This Facility?

An Overdraft Personal Credit Line is ideal if you:

  • Have frequent short-term cash needs
  • Want to avoid multiple loan applications
  • Prefer paying interest only when funds are used
  • Need a financial safety net for emergencies or variable expenses

How to Apply via RupeeQ

  • Check your eligibility for an overdraft line on RupeeQ
  • Review lender offers and limits tailored to your profile
  • Submit basic documents digitally
  • Get approval—often within hours
  • Access your limit instantly, use anytime as per need

Charges & Interest

  • Interest Rate: ~10%–18% p.a., charged only on the amount withdrawn
  • Processing Fee: 0.5%–2% of approved limit
  • Renewal Fee: Annual renewal may apply for revolving limits
  • Late Payment Fee: Applicable on overdue interest or principal

Why RupeeQ for Overdraft Personal Credit Line?

  • Compare overdraft credit line offers from multiple lenders in one place
  • Transparent fees & interest rates
  • 100% online application and disbursal process
  • Tools like RupeeQ ACE to track your credit health and usage

Eligibility Criteria for Personal Loans

Age: 21–60 years
Minimum Income: ₹20,000+ monthly salary / Self-employed with stable revenue
Credit Score: 650+ (750+ for better limits & rates)
Documents Required: PAN, Aadhaar, bank statements, salary slips/ITR, address proof
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Salaried and self-employed individuals meeting the lender’s eligibility criteria (usually 21–60 years of age, minimum ₹20,000 monthly income, and a good credit score) can apply.

Interest rates typically range from 10% to 18% p.a., depending on your credit score, income, and lender policies.

Yes, you can repay partially or in full at any time. Once repaid, the limit is restored and can be reused without a new application.

Once your overdraft line is approved, you can access funds instantly via netbanking, mobile banking, or cheque, depending on the lender.

Proper usage with timely repayments can help maintain or even improve your credit score. Over-utilization or missed payments can negatively impact it.
A few easy steps can help you practice better financial decision-making.
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