Overdraft (OD)

Overdraft (OD)

Manage your short-term liquidity with ease through overdraft facilities. At TaxMyles, we help you secure and structure overdrafts that offer flexible access to funds when you need them most.

  • Flexible Withdrawal: Withdraw funds anytime within the sanctioned limit.
  • Pay Interest Only on Usage: Interest is charged only on the amount you actually use.
  • Quick Approval: Fast-track your overdraft setup with expert guidance.
  • Backed by Trusted Banks: We work with reliable banking partners for seamless service.

Overview of Overdraft (OD)

An overdraft is a credit facility that allows individuals or businesses to withdraw more than their current account balance, up to an approved limit. It is commonly used to manage short-term cash flow gaps or working capital needs. The borrower pays interest only on the amount utilized, making it a cost-effective financial tool for managing temporary liquidity issues.

Services We Provide for Overdraft (OD)

At TaxMyles, we offer end-to-end support to help you obtain and manage an overdraft facility efficiently:

  • Evaluation of OD eligibility based on financials and credit profile
  • Preparation of CMA data and supporting documents
  • Drafting financial statements and business reports
  • Liaising with banks and financial institutions
  • Support with legal, compliance, and documentation
  • Ongoing advisory for OD renewals and limit revisions

Why Choose TaxMyles for Overdraft (OD)?

  • Short-Term Financing Experts: We understand the cash flow needs of growing businesses.
  • Optimized Credit Structuring: We help you determine the right OD limit for your needs.
  • Precise Documentation: Our reports and financials meet all bank requirements for a smooth process.
  • Strong Bank Network: We connect you with top banks and NBFCs offering favorable terms.
  • Transparent Process: Clear guidance from application to post-approval support.