What is the limit for overdraft?

Answer:
It depends on various factors like:
  1. Your history with the bank
  2. Your monthly salary
  3. Presence of Collateral (Like gold or fixed deposits or securities)


Usually it is 2 times of your monthly salary if yours is a salary account or 80-90% of the value of the collateral you pledge against your overdraft account.
First answer by Anandvijayakumar. Last edit by Anandvijayakumar. Contributor trust: 783 [recommend contributor recommended]. Question popularity: 2 [recommend question].

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