Overdrafts

Pochampally Co-operative Urban Bank does offer overdraft facilities. Overdrafts allow you to withdraw more money from your account than you have deposited, up to a certain limit.

Key Features of Overdraft Facility:

• Flexible Usage: You can withdraw funds as needed, up to the approved limit.
• Interest Calculation: Interest is typically calculated on a daily basis on the utilized amount.
• Repayment Flexibility: You can repay the overdraft amount at your convenience, either in full or in part.

Eligibility Criteria:

• Existing Account Holder: You must be an existing customer of the bank with a good credit history.
• Income: You should have a stable source of income to meet the repayment obligations.
• Collateral Security: The bank may require collateral security, such as fixed deposits or property, to secure the overdraft facility.

Interest Rates:

The interest rate on overdrafts is typically higher than fixed deposit interest rates. The exact rate may vary based on the bank's prevailing rates and your creditworthiness.

To get more specific information about overdraft eligibility, interest rates, and the application process, I recommend contacting Pochampally Co-Operative Urban Bank directly. You can visit their website or a nearby branch to inquire further.