What is Over Draft (OD) / Max Gain Loan?
Over Draft (OD) / Max Gain Loan is a flexible loan facility against your property where you get a sanctioned limit. You can withdraw any amount within this limit anytime, and pay interest ONLY on the amount you actually use, not on the entire sanctioned limit. It's like a giant credit card against your property with much lower interest rates.
Key Benefits
- Pay As You Use: Interest only on withdrawn amount, not on total limit.
- Flexible Withdrawals: Withdraw and repay any number of times.
- Lower Interest: Much cheaper than credit cards or personal loans.
- No Fixed EMI: Pay interest on outstanding amount monthly.
- High Limit: Get OD limit up to ₹10 Cr based on property value.
- Business Friendly: Ideal for working capital needs.
OD vs Traditional Loan
| Feature | Over Draft (OD) | Traditional Term Loan |
|---|
| Interest Calculation | On used amount only | On entire sanctioned amount |
| Withdrawal Flexibility | Any number of times | One-time disbursal |
| Repayment | Flexible (interest + principal anytime) | Fixed EMI every month |
| Interest Rate | Slightly higher (8.75%+) | Lower (8.50%+) |
| Best For | Business, working capital, emergency | Long-term needs, home purchase |
See How Much You Save with OD
💰 Interest Payable on OD (on used amount)
₹0
vs Interest if taken as Term Loan (on full limit)
₹0
🎯 You Save
₹0
Eligible Property Types
- Residential House / Flat
- Commercial Property (Shop, Office)
- Industrial Property
- Vacant Land (select banks)
Top Banks for OD / Max Gain Loan
SBI MaxGain
8.75%*
OD Limit: Up to ₹5 Cr
HDFC SmartOD
8.85%*
OD Limit: Up to ₹10 Cr
ICICI OD
8.90%*
OD Limit: Up to ₹7.5 Cr
Axis Bank OD
9.00%*
OD Limit: Up to ₹5 Cr
PNB OD
8.80%*
OD Limit: Up to ₹3 Cr
Bank of Baroda
8.85%*
OD Limit: Up to ₹4 Cr
Eligibility Criteria
- Property Type: Residential, commercial, or industrial property.
- LTV Ratio: Up to 70% of property value (RBI norm).
- CIBIL Score: 700+ for best rates.
- Income: Regular income source (Salaried/Business).
- Age: 21 years to 65 years at loan maturity.
Apply for OD / Max Gain Loan
Get flexible OD facility from top banks. Free consultation.
Frequently Asked Questions
How is Over Draft different from a regular loan?
In a regular loan, you get the entire amount upfront and pay EMI on the full amount. In Over Draft, you get a sanctioned limit but pay interest ONLY on the amount you withdraw. You can withdraw and repay anytime.
Can I withdraw money multiple times?
Yes! You can withdraw any amount within your limit, any number of times. You can also repay and withdraw again as per your needs.
What is the maximum OD limit I can get?
You can get OD limit up to ₹10 Crore depending on your property value. As per RBI norms, maximum LTV is 70% of property value.
Is there any penalty for not using the full limit?
No! You only pay interest on the amount you use. If you don't withdraw anything, you pay zero interest. Some banks may have a small annual maintenance fee.
Can I prepay the OD amount anytime?
Yes, you can prepay any amount anytime without any prepayment penalty for floating rate OD. This gives you complete flexibility over your finances.
Who should choose Over Draft facility?
OD is ideal for business owners needing working capital, professionals with irregular income, or anyone who wants flexibility to use funds only when needed.