Manage your cash flow with ease — Startup GrowW helps businesses and individuals secure flexible overdraft limits tailored to their financial needs:
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A bank overdraft is like a short-term loan from the bank that lets you spend more money than you have in your account—up to a certain limit. Think of it as the bank allowing you to go “negative” when your account balance is low, but only up to a fixed amount. You pay interest only on the amount you use, and it’s useful for handling temporary cash shortages or urgent expenses. It’s a flexible and quick way to manage your business or personal cash flow.
Provides instant liquidity without needing to apply for a separate loan.
No restriction on how the funds are used (working capital, payments, etc.).
Interest is charged only on the amount overdrawn, not the full limit.
May be unsecured for individuals with good credit, though many are secured.
Helps Maintain Cash Flow Ideal for managing temporary cash flow mismatches.
Often renewable annually, making it reusable after repayments.
Must hold a current or savings account with the bank and have a good credit history.
Businesses / SMEs Must have a current account, operating for a minimum period (usually 1-2 years), and show stable cash flows.
Should receive salary in the account, with a stable job/income.
Proof of business income and operational track record required.
Aadhaar, PAN, Passport, Voter ID
Utility bill, Aadhaar, Passport
Usually last 6 months
Salary slips or Form 16
Appointment letter or ID card
PAN, Aadhaar of proprietor/partners/directors
GST, Trade License, Shop Act, etc.
ITRs, P&L statement, Balance Sheet (last 2–3 years)
Usually last 12 months
Proof of business location (rent agreement, utility bill, etc.)
Required for partnerships or companies
If the overdraft is secured
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Compliance refers to the act of adhering to laws, regulations, standards, or guidelines. Compliances refers to the process of ensuring that a company or organization follows all applicable laws, regulations, and all internal policies that governs its operations.
Compliance refers to the act of adhering to laws, regulations, standards, or guidelines. Compliances refers to the process of ensuring that a company or organization follows all applicable laws, regulations, and all internal policies that governs its operations.
Compliance refers to the act of adhering to laws, regulations, standards, or guidelines. Compliances refers to the process of ensuring that a company or organization follows all applicable laws, regulations, and all internal policies that governs its operations.
Compliance refers to the act of adhering to laws, regulations, standards, or guidelines. Compliances refers to the process of ensuring that a company or organization follows all applicable laws, regulations, and all internal policies that governs its operations.
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Overdraft allows temporary excess withdrawal up to a limit on current accounts; loans provide a fixed amount with set repayment terms and interest over a longer period.
Individuals or businesses with a good credit history and an active current account can typically get an overdraft facility from their bank.
Yes, banks charge interest on the overdraft amount used, usually at higher rates than regular loans, and fees may also apply depending on the agreement.
The overdraft limit depends on the account holder’s creditworthiness, bank policies, and financial history; it’s usually pre-approved and can vary widely between individuals and businesses.
Overdrafts can be secured or unsecured; secured overdrafts require collateral, while unsecured ones rely on the account holder’s creditworthiness without needing assets as security.
Yes, you can repay your overdraft and reuse the available limit multiple times within the agreed period, making it a flexible short-term borrowing option.
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Disclaimer: We are a private consulting firm and are not affiliated with any government authority. Our team provides professional assistance to help businesses register with the Ministry of Corporate Affairs (MCA). All services are offered independently and transparently.