Services Details Page || Eluri Co-Operative Urban Bank

Unlock Liquidity with Secured Overdraft on Property

Secured Overdraft on Property from Eluri Bank allows you to access funds by pledging your residential or commercial property. Pay interest only on the amount you use, not the entire limit.

This facility is ideal for business owners, professionals, or individuals looking for flexible, reusable credit with lower interest compared to unsecured options.

Features of Secured Overdraft

High overdraft limit against property value
Interest charged only on utilized amount
Both residential and commercial properties accepted
Flexible credit line with revolving facility
Tenure up to 2 years (Renew every 2 years)
Competitive interest rates starting from 12% p.a.

Documents Required for Secured Overdraft

KYC Documents – PAN Card, Aadhar Card
Property Ownership Documents – Sale Deed, Tax Receipts
Income Proof – Salary slips / ITR / Business Proof
Latest Bank Statements (6 months)
Passport-size photographs

How to Apply for Secured Overdraft

1. Visit the nearest Eluri Bank branch
2. Fill out the overdraft application form
3. Submit your property and income documents
4. Property evaluation and credit assessment
5. Get sanctioned limit and start withdrawing as needed

How is this different from a loan against property?

Unlike a loan with fixed EMI, a secured overdraft gives you a credit limit and you only pay interest on what you actually use.
Can I increase my overdraft limit later?

Yes, subject to revaluation of the property and fresh eligibility checks.
Is there a minimum usage requirement?

No, you can use any portion of the limit as per your convenience.