Drop line Overdraft is a modern form of property loan which is granted to the applicant from 1 year-15 year of tenure. With the Drop line Overdraft, the applicant can withdraw the required money for different purposes and only the used amount is deducted as the borrowed loan. However, the interest is calculated on the overall loan amount, whether used or not. The loan is best suited for the business where there is a requirement of stock on an urgent basis. The loan can be availed on the basis of monthly, quarterly, half-yearly or yearly basis.
For getting eligible for the Drop line overdraft, the following criteria must be met:
Some of the documents which are required to get eligible for Loan against Property are:
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