Overdraft

A personal overdraft can help with unexpected expenses, in case your funds run a little low.

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CBI Ready Money

A revolving overdraft facility to fulfil your short term financing needs in case of an emergency
Interest charged on the amount utilised
Avail up to 2x of your salary

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Secured Overdraft

An overdraft facility that is secured by a fixed deposit held with CBI
Avail up to 90% of the Fixed Deposit
Offered in AED only with no processing fees

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Overdraft FAQs

CBI Secured Overdraft is a temporary form of financing wherein you can avail the facility by maintaining a Fixed Deposit with CBI. The fixed deposit should be under lien against this facility.

Yes, it should be held with CBI.

Should you apply for a CBI secured overdraft you can avail up to 90% of the fixed deposit amount. If you're applying for a CBI ready money you can borrow up to 2x of your salary t hat is transferred to CBI.

The maximum amount that can be granted under the facility is AED 20 Million.

Yes, Salary transfer to CBI is Mandatory.

A Rate of Interest of 26% p.a (2.17% p.m.) would be applicable for this facility. Rate of Interest of 36% p.a (3% p.m.) will be applicable for this facility, effective from 24th August 2018 onward.

What is CBI Secured Overdraft?

CBI Secured Overdraft is a temporary form of financing wherein you can avail the facility by maintaining a Fixed Deposit with CBI. The fixed deposit should be under lien against this facility.

Should the fixed deposit be held with CBI?

Yes, it should be held with CBI.

What is the maximum amount that I can borrow?

What is the maximum amount that can be granted under CBI Secured Overdraft?

The maximum amount that can be granted under the facility is AED 20 Million.

Is Salary Transfer to CBI Mandatory?

Yes, Salary transfer to CBI is Mandatory.

What is the Rate of Interest Applicable for this facility?

A Rate of Interest of 26% p.a (2.17% p.m.) would be applicable for this facility. Rate of Interest of 36% p.a (3% p.m.) will be applicable for this facility, effective from 24th August 2018 onward.

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