Services Details Page || Eluri Co-Operative Urban Bank

Overdraft Against Fixed or Recurring Deposits

Secured Overdraft on Deposit from Eluri Bank allows you to avail funds instantly without breaking your existing fixed or recurring deposits. It’s a quick and convenient way to access liquidity while continuing to earn interest on your deposit.

This facility ensures that your savings stay intact while giving you the financial flexibility to meet urgent or planned expenses at attractive interest rates.

Features of Overdraft Against Deposit

Overdraft limit up to 90% of deposit value
Competitive interest rates starting from 1% to 2% against the deposit rate
Interest charged only on utilized amount
No need to break your FD or RD
Same-day processing and sanction
Continue earning interest on your deposit
Minimal documentation required

Documents Required

KYC Documents – PAN Card, Aadhar Card
Fixed/Recurring Deposit Receipts
Signature proof / Passport-size photograph
Existing Eluri Bank account details

How to Apply

1. Visit your Eluri Bank branch or apply online
2. Fill out the overdraft request form
3. Submit your deposit and KYC documents
4. Get same-day overdraft approval

Will my fixed deposit continue to earn interest?

Yes, your fixed deposit will continue to earn the agreed interest rate while the overdraft is active.
What is the interest rate on the overdraft?

Typically 1–2% above the deposit interest rate. Please contact the branch for exact rates.
Is there a processing fee?

There may be a nominal processing fee. Please refer to the fee schedule or ask your branch.