How To Repay Overdraft Against FD SBI?

Hi there. You can learn how to repay overdraft against FD SBI YONO through the YONO app. You need to visit the YONO Pay section and make the repayment. I have stated the complete process in my answer, as I went through the same task a couple of days back. So, here is all the information you need to know.

How to Repay OD Against FD SBI?

I am sharing the complete stepwise process to repay your overdraft against the fixed deposit in SBIthrough the SBI YONO app below.

1. Open the SBI YONO app and log into the app by submitting your 6-digit MPIN.

2. Then, visit the ‘Loan’ section and check for the overdraft amount and the transaction history. This will help you know the exact amount.

3. Then, come back and visit the ‘YONO Pay’ section. Choose the beneficiary bank account of your FD. 

4. Write the amount to be paid and select loan repayment in the purpose section. 

5. Click ‘Next’ and then click the ‘Confirm’ button on the next screen.

6. You will receive a notification of successful payment on the app.

So, this is how you can repay the overdraft amount against your FD. I hope this information helps you. If you have more doubts, I can help you out. Just drop your query in the comments.

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Read More RBI Guidelines on Auto Renewal of Fixed Deposit?

Last month I went to my SBI branch to deposit an amount of money and was checking out the time span and interest rates. I witnessed a person asking a question about how to close Overdraft against FD in SBI and got curious to know what Overdraft is. I asked an official about it and he said that it is for customers who already have an FD or Fixed Deposit in a single name. Overdraft is a facility that enables such customers to avail up to 90% of the FD as Overdraft in case of dire crisis or emergency. The best part is one can create an Overdraft online only using the SBI YONO app. I further looked into it and fortunately, now I know how to repay it as well. Let me help you know the complete process below. Avail your Home Loan with minimum interest rate from NoBroker now Now pay your utility bills and get rewarded. Check out NoBroker Utility Bill payment service and get assured rewards.

How to Close the Overdraft against the Fixed Deposit?

Since everything can be done digitally, I thought one can close their Overdraft against FD in SBI using YONO app only but no. There is currently no such provision. One needs to visit the Home Branch only before maturity or end of term of TDR(Term Deposit)/ STDR(Special Term Deposit) /eTDR /eSTDR.

How to Repay the Overdraft Against FD?

Now to answer how to repay Overdraft against FD SBI let me tell you that SBI customers can repay it via three ways:

• Set up the ECS facility and let the OD amount get deducted from your account monthly.
• Issue a cheque for the Overdraft to your bank’s branch
• You can also use the YONO app and repay the amount online

This is all I can say as my answer for  how to close Overdraft against FD in SBIand I hope I have made my point clear. Read More: What is Overdraft against FD? What is Dropline Overdraft? What is Overdraft loan?