Xpress GST Overdraft loan

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Xpress GST Overdraft loan
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What is the GST Overdraft Facility?

The GST Overdraft Facility is a credit option offered to businesses registered under GST. It provides working capital against GST returns filed, allowing access to funds based on GST sales data. This facility helps manage cash flow needs without extensive documentation.

Features and Benefits

  • Overdraft facility of up to ₹ 1 crore

  • Collateral-free credit access

  • Credit limit based on GST returns; no financials needed

  • Simple documentation with quick approval

  • Interest is charged only on the utilised amount, not the full limit

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Fees & Charges

Processing Fees

Up to 1% (plus taxes) of the facility amount or ₹7,500/- (plus taxes) whichever is higher.

₹5,000/- (plus taxes) will be collected upfront as non-refundable administrative cost towards the legal and valuation expenses incurred prior loan sanction. For Shopkeeper Loan (unsecured): Up to 2% (plus taxes) of the facility amount. No Processing Fee & Renewal Fee will be charged for the cases worth CAM value up to ₹5 lakh.

Renewal Fees

Up to 1% (plus taxes) of facility amount.

Additional Interest

Charged @ 18.00% p.a. for overdue / delay / default of any monies payable

Service Tax & other Government taxes

Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges

Please Note:

  • Loan at the sole discretion of HDFC Bank Ltd.

  • Floating rates are linked to Repo as declared by RBI from time to time. Such loans/ facilities are reset at 3-month frequency.

  • ** All Guaranteed Emergency Credit Line (GECL) Products are linked to HB_EBLR rate.

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Loan Benefits

Most Important Terms & Conditions

*The Most Important Terms and Conditions for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.

Most Important Terms & Conditions

Wondering if you are eligible?

  • Available to micro and small businesses
  • Must possess a valid Udyam Registration Certificate
  • Business should be operational for at least three years
  • Must have GST returns filed for the past 36 months
Xpress GST Overdraft loan

Frequently Asked Questions

A GST-based loan is a collateral-free credit facility offered to businesses based on their GST returns. It allows access to funds up to a set limit, with interest charged only on the amount used, not the entire limit.

A GST OD offers micro and small businesses collateral-free access to funds up to ₹ 1 crore. It has hassle-free documentation, quick approval, and the credit limit is based on GST returns, not financials. Interest is charged only on the utilised amount, making it a cost-effective funding option.

You can apply for the GST Overdraft Business Loan online through net banking or by visiting your nearest HDFC Bank branch, provided you hold a Current Account.

To be eligible for the GST Overdraft Loan scheme, your business must be a micro or small enterprise with a valid Udyam Registration Certificate. It should be at least three years old and must have filed GST returns consistently for the last 36 months.

The GST Overdraft itself acts as a credit facility based on your GST returns, so a separate loan against it is not required.