Dropline Flexi loan is a type of revolving credit wherein customer gets a pre-approved limit basis their credit profile and can avail credit basis their needs. Customer can withdraw the funds at the time of need and can repay the same whenever they have additional funds.
Dropline OD follows a defined repayment structure and as defined term through which the principal borrowed is repaid. Here, the overall limit keeps reducing as per dropline amount along the tenure.
Interest amount will be calculated day wise depending on the principal outstanding of customer basis the withdrawals & repayments made by the customer.
