The overdraft facility offered by SBI depends on the repayment capacity of the applicant and the purpose and amount of overdraft loan required. Once you receive the OD, you can follow the steps listed below to pay it monthly. 

How to pay the OD amount at SBI?

The payment of overdraft at SBI can be done using any of the three methods listed below. 

  1. Set up the ECS facility to get the OD amount debited from your account every month. 
  2. Issue a cheque for the OD amount to your SBI Branch.
  3. You can also pay it online using the SBI Yono app.

Let us look at various overdraft payment options offered by SBI through its various schemes.

Overdraft against Salary

  • Minimum of 3 months’ salary credit required
  • Overdraft facility available on 2 months’ net salary
  • Overdraft should be repaid within 6 equated monthly instalments

Additional Reading:  Best Overdraft Account - CreditMantri

Overdraft against Fixed Deposit

  • You should have a single or joint SBI’s Term Deposit Receipt (TDR) or Special Term Deposit Receipt (STDR).
  • Overdraft facility against SBI fixed deposit available through internet banking also for single fixed deposit holders
  • Joint holders need to visit the nearest SBI branch only for availing overdraft facility
  • Loan amount minimum of Rs. 25000 and a maximum of Rs. 5 crores.
  • Margin is 90% of the value of your SBI fixed deposit 
  • Overdraft facility repayment depends on the repayment capacity of the borrower for the loan taken in SBI branches.
  • SBI overdraft repayment for offline/online modes have been capped at
  • STDR/e-STDR – up to 5 years
  • TDR/e-TDR – up to 3 years

Overdraft against Home Loan

SBI Maxgain

  • Overdraft facility against SBI home loan 
  • Minimum overdraft amount – Rs. 20 lakhs
  • Maximum overdraft amount – no cap
  • Relevant SBI home loan terms applicable to borrowers, including repayment schedule

Important Points to Consider

An overdraft facility is available to eligible SBI customers

Overdraft is a type of short-term loan

The interest rate is fixed and not floating