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About SIMFINN Cash Credit/ Overdraft

SIMFINN’s Cash Credit and Overdraft facility is designed to provide businesses and individuals with flexible financial support to manage working capital, unexpected expenses, or short-term cash flow gaps. With this revolving credit facility, borrowers can withdraw funds as needed within a pre-approved limit and pay interest only on the utilized amount. Whether you are a business looking to cover operational expenses or an individual needing emergency funds, SIMFINN ensures quick access to liquidity with minimal hassle.

Our Cash Credit and Overdraft solutions come with customizable limits, competitive interest rates, and easy repayment options. Unlike traditional loans, where you receive a lump sum amount, this facility allows you to withdraw, repay, and reuse funds multiple times within the sanctioned limit. With minimal documentation, seamless online access, and flexible terms, SIMFINN empowers businesses and individuals with financial freedom and greater control over their funds.

Features & Benefits of Cash Credit/ Overdraft Loan

Flexible Fund Utilization

Withdraw funds as per your needs, up to the approved credit limit, and repay anytime within the tenure.

Pay Interest Only on Used Amount

Interest is charged only on the amount utilized, not on the entire sanctioned limit, reducing the overall borrowing cost.

Revolving Credit Facility

Withdraw, repay, and reuse the funds multiple times within the approved limit, providing continuous access to capital.

Quick Approval & Disbursement

Hassle-free application with minimal documentation ensures fast processing and fund availability when needed.

Collateral-Free Option Available

Depending on eligibility, businesses and individuals can avail unsecured overdraft without pledging assets.

Customizable Credit Limits

Get a credit limit tailored to your financial needs, ensuring that businesses and individuals have adequate financial flexibility.

Cash Credit/ Overdraft Eligibility Criteria

Age Criteria

The applicant must be between 21 and 65 years old at the time of application to ensure financial responsibility and repayment capability.

Business Vintage

The business should have been operational for at least 2 years. A well-established business indicates financial stability and a proven track record, making it easier for lenders to assess creditworthiness.

Business Vintage / Work Experience

For Businesses: The company must be operational for at least 2 years with stable revenue.
For Salaried Individuals: A minimum 1 year of work experience in the current job is required.

Minimum Annual Turnover / Income

For Businesses: A minimum annual turnover as per lender guidelines is required to assess financial stability.
For Individuals: A minimum monthly income of ₹25,000 or more is preferred for eligibility.

Credit Score

A CIBIL score of 650 or above is recommended for better approval chances and favorable interest rates. A strong repayment history improves eligibility.

Banking & Financial Stability

Applicants should maintain a consistent banking history, with sufficient cash flow and a positive track record of managing finances, ensuring the ability to repay the overdraft.

Loan EMI: 0 INR

Total Interest: 0 INR

Total Payment: 0 INR

Our Clients

Our home loan clients trust us to provide tailored financial solutions that make homeownership more accessible and affordable. With competitive interest rates, flexible repayment options, and a seamless application process, we help individuals and families achieve their dream of owning a home. Our commitment to customer satisfaction ensures personalized service and expert guidance at every step.

98%

Satisfied Customers

84%

Home Loans Disbursed

88%

Loan Approval Rate

Documents Required For Cash Credit/ Overdraft Loan

  • Aadhaar Card
  • PAN Card
  • Voter ID
  • Passport
  • Driving License
  • Aadhaar Card
  • Utility Bill (Electricity/Water/Gas – Recent 3 Months)
  • Rental Agreement
  • Passport
  • GST Registration Certificate
  • Trade License
  • Udyam Registration (for MSMEs)
  • Certificate of Incorporation (for Private Limited Companies)
  • Partnership Deed (for Partnership Firms)

For Businesses:

  • Last 6–12 months’ bank statements
  • Profit & Loss Statement and Balance Sheet for the last 2–3 years (audited if applicable)
  • Income Tax Returns (ITR) of the business for the last 2–3 years

 

For Salaried Individuals:

  • Last 3 months’ salary slips
  • Latest Form 16 or ITR
  • Last 6 months’ bank statements showing salary credits
Property documents, fixed deposit receipts, or any other pledged asset (for secured overdrafts)

Duly filled and signed SIMFINN Cash Credit / Overdraft application form

Take Next Step & Manage Your Immediate Financial Needs Now. Turn Your Dream Business into Reality with SIMFINN!
Affordable Cash Credit/ Overdraft Loans with Easy Approvals & Flexible EMIs

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FAQs About Cash Credit/ Overdraft Loan

Cash Credit (CC) is primarily for businesses to meet working capital needs, while Overdraft (OD) is available for both businesses and individuals to manage short-term financial gaps. Both allow you to withdraw funds as needed within a set limit.

Interest is charged only on the amount utilized, not on the entire sanctioned limit, making it a cost-effective borrowing option.
The tenure varies based on the applicant’s profile and lender policies, usually ranging from 12 months to 36 months, with an option for renewal.
SIMFINN offers both secured and unsecured options. Secured overdrafts require collateral such as property, fixed deposits, or other assets, while unsecured overdrafts are based on creditworthiness.
Yes, both CC and OD are revolving credit facilities, allowing you to withdraw, repay, and reuse funds multiple times within the approved limit.
You can apply online by filling out the application form and submitting the required documents. Once approved, your credit limit is set, and you can start using the funds as needed.