Chat with UsUnsecured credit line
The dropline overdraft does not require land, property, bank guarantee or any other business collateral
Dropline Overdraft
Fulfill your short-term financial needs flexibly with our dropline overdraft financing solution
RBI Registered
Dropline Overdraft Benefits
Paperless
Complete the entire application procedure and disbursal process online in a few clicks
Interest as per usage
The interest would be charged only for the exact amount and duration of use
Instant disbursement
Get disbursement as soon as you submit invoices
Better payment cycles
Improve your cash flow with advance supplier payments
Eligibility & Required Documents
Apply with minimal documentation
Eligibility
Minimum turnover ₹3 crores
Business vintage 3+ years
Required Documents
KYC details
Last 6 months
Financials for previous 2 fiscal years
GSTR details for current fiscal year
Our Terms
Interest Rates
Starts from 12% per annum
Processing Fees
Starts from 1% per annum
Penal Interest
Starts from 2% per month + Applicable Tax
EMI & Check Bounce Charges
500 + Applicable Tax
How to Apply for Credit
Step-by-step online process to apply
for Financing
1
Check Eligibility
Check your loan eligibility
2
Submit Application
Complete a 100% online application form
3
Get Sanctioned
We will evaluate your application and propose a fair sanction
4
Receive Funds
Get disbursements within 2 days of sanction
Why Oxyzo?
Oxyzo provides new-age customized financing
products for your business needs
Collateral-free line of credit
Approval within 48 hours
One-time processing fee only
No new bank Account required
No pre-closure charges
No minimum utilization charges
Best interest rate in the industry
Flexible repayment options
100% digitized process
Know about Dropline Overdraft
Dropline overdraft is a definite upgrade to the overdraft facility, combining the advantages of term loans and overdrafts. A dropline od
is a short-term finance that allows a borrower to withdraw funds from Oxyzo up to a predetermined limit,however, the actual withdrawal
limit reduces from the sanctioned amount as per drop frequency. Drop Line Overdraft helps SMEs meet their working capital needs and aids
in the growth of their business.
Oxyzo, the SME-centric RBI registered NBFC, offers the smart business financing solutions, such as Dropline OD, to its clients that are
completely digitized and hassle-free with no hidden charges.
Frequently Asked Questions
What are the benefits of dropline overdraft ?
It is a reducing exposure and a collateral-free financial tool which can be availed by SMEs to meet the short term financial requirements and bridge the working capital gap in their business.
How is the interest rate charged on the dropline overdraft facility ?
The interest rate is charged on a pro-rata basis on the amount that is withdrawn, not on the actual limit that is sanctioned.
What is the difference between a bank overdraft and a dropline overdraft ?
Unlike the overdraft facility, the actual withdrawal limit reduces from the sanctioned amount in a preset drop frequency when an SME avails a dropline overdraft facility.
Does Oxyzo provide unsecured drop line overdraft ?
Yes. Oxyzo provides both unsecured and secured dropline overdraft facility.
Is there any yearly fee for a dropline overdraft ?
No, there is only a one-time processing fee charged.
