Chennai · Tamil Nadu
Overdraft (OD) facility in Chennai — pay interest only on usage
A revolving overdraft limit against property, deposits or business cashflow. Draw when you need it, repay when collections come in, and pay interest only on the amount actually used.
10.00% p.a.
Rate from
₹50 Cr
Max limit
Renewable
12-month cycle
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Advisory from our Chennai, Tamil Nadu, India team, for borrowers across Tamil Nadu. Checking options does not affect your CIBIL score.
Why borrowers in Chennai choose us
48+ lenders. One local advisor.
A Chennai-registered advisory, not a call centre
Moneymax Fingrow is registered in Chennai, Tamil Nadu. Your advisor speaks Tamil and English and handles your Chennai file personally from enquiry to disbursement — no outsourced tele-callers.
48+ banks and NBFCs compared in one sitting
We place your file with the lenders whose credit policy actually matches your profile, so you avoid repeated rejections and CIBIL damage.
Rate and structure negotiated for you
Overdraft, cash credit, term loan or LAP — we negotiate pricing, tenure and collateral cover, then reduce EMI or interest later through balance transfer.
Zero advance fee to the borrower
We are an empanelled DSA. Our fee comes from the lender on disbursement. Nothing is collected from you upfront.
Where an overdraft earns its keep in Chennai
An overdraft suits Chennai businesses whose requirement moves week to week rather than month to month — contractors waiting on certified bills, traders buying opportunistically, service firms with lumpy payroll and vendor cycles, and professionals smoothing practice cash flow.
Because interest is charged on utilisation and on the days used, an unused overdraft is cheap to hold and an over-drawn one is expensive to carry. The discipline that keeps the facility working is bringing collections back into the account rather than parking them elsewhere.
Which facility fits which need in Chennai?
The right answer depends on purpose, tenure and cash flow — not on which product is easiest to apply for. These are the situations we see most often locally.
Buffer against a payroll or supplier spike
A modest OD limit held ready costs far less than an emergency term loan taken in a hurry.
How the OD facility worksYou own property but need flexibility, not a lump sum
An overdraft against property gives you a revolving limit on mortgage-backed pricing rather than a fixed EMI you may not need.
Loan against propertyNot sure whether OD or CC is right
The distinction is about security and drawing power, and getting it wrong raises both cost and paperwork at renewal.
Compare OD and CCHow lenders assess a Chennai file
- Business vintage — how long the entity has been trading under the same registration.
- Turnover and cash flow, read from GST returns and bank credits rather than declared sales alone.
- Banking conduct — cheque returns, overdrawn days and end-of-day balances in your operating account.
- Existing obligations: running EMIs, utilised OD/CC limits and any guarantees you have given.
- Credit profile of the entity and the promoters, including enquiry history.
- Collateral, where the facility is secured — title, valuation and the property type's acceptability.
Chennai lenders reviewing an OD renewal look first at the number of overdrawn days and the average utilisation — a limit that sits permanently at the top is often restructured rather than renewed as is.
These are general lender considerations, not rules that guarantee an outcome. Every sanction stays with the lender's own credit policy.
Papers to keep ready
- PAN and Aadhaar of the proprietor, partners or directors.
- Business registration — GST, Udyam or Shop & Establishment.
- Twelve months of bank statements for the main operating account.
- Last two years of ITR with financials, where the lender requires them.
- Existing sanction letters and repayment tracks for running facilities.
- Property papers, patta/chitta and EC for any secured facility.
Entity-wise checklists are on our proprietorship, partnership and private limited document guides. Indicative pricing across products is published on our rates page (as of 10 July 2026).
Where we work in Chennai
We handle files from across Chennai — T. Nagar, Anna Nagar, Adyar, Velachery, OMR / Sholinganallur, Guindy, Ambattur, Porur, Tambaram, Mylapore, Perungudi, Thiruvanmiyur and the surrounding areas. Documents are collected digitally, with a site visit only where the lender's process requires one.
Plan your EMI
Monthly EMI
₹54,356
*Indicative EMI. Actual interest rate depends on lender, credit profile & eligibility.
Chennai loan questions, answered
What is the difference between overdraft and cash credit?
An overdraft is usually secured by property, deposits or overall cashflow and can be used freely. Cash credit is tied to current assets — stock and receivables — with drawing power reviewed monthly.
Is an OD cheaper than a term loan?
For irregular requirements, yes — you pay interest only on the utilised amount and only for the days used. For a fixed, long-term purchase, a term loan is normally cheaper overall.
Can I get an OD against my Chennai property?
Yes. An OD against property is one of the most common structures we arrange, typically up to 60–70% of market value with the limit reviewed annually.
Loans across Tamil Nadu
Not sure which facility suits your business in Chennai? Our business loan and MSME funding guide compares working capital finance, overdraft, cash credit, term loan and loan against property before you narrow down locally.