Overdraft Details
OD Results
Interest = Amount × Rate ÷ 365 × Days. Figures are rounded to the nearest rupee. Actual charges may also include processing fees, GST or minimum interest as per your bank.
Overdraft Interest Calculator – Estimate Your OD Interest
An overdraft (OD) facility lets you withdraw more than the balance in your account, up to an approved limit. Interest is usually charged only on the amount you actually use and for the number of days you use it.
Use the CibilBazaar Overdraft Interest Calculator to estimate the interest you will pay for a given overdrawn amount, number of days and interest rate.
How Is Overdraft Interest Calculated?
Overdraft interest = Amount overdrawn × Interest rate ÷ 365 × Number of days. The calculator also shows the interest amount per day.
Figures are rounded to the nearest rupee. Actual charges may also include processing fees, GST or minimum interest as per your bank.
How to Use the Overdraft Calculator
Enter the Amount Overdrawn
Type the amount you have used from your overdraft limit, or use the slider.
Set the Days Utilised
Enter the number of days the amount stays overdrawn.
Enter the Interest Rate
Add the annual interest rate charged on the overdraft.
Review the Interest
See the total interest for the period and the interest amount per day.
What Affects Your Overdraft Interest
Amount Used
Interest grows with the amount you draw, so using less of the limit reduces the cost.
Number of Days
Interest is counted for each day the amount remains overdrawn, so repaying early saves interest.
Interest Rate
A higher annual rate directly increases the daily and total interest.
Other Charges
Processing fees, GST and minimum interest may apply on top of the interest.
Benefits of Using the Calculator
Know the Cost in Advance
Estimate the interest before you use your overdraft limit.
Plan Repayment
See how repaying a few days earlier changes the interest you pay.
Compare Rates
Try different interest rates to compare overdraft offers.
Frequently Asked Questions (FAQs)
1. What is an overdraft facility?
An overdraft facility allows you to withdraw money beyond your account balance up to a limit approved by the bank.
2. How is overdraft interest calculated?
Interest is calculated as the amount overdrawn multiplied by the annual rate, divided by 365 and multiplied by the number of days utilised.
3. Is interest charged on the full limit or only the amount used?
Overdraft interest is usually charged on the amount you actually use, but this depends on your bank's terms. Confirm with your lender.
4. Are there other charges besides interest?
Banks may charge processing fees, GST or minimum interest in addition to the interest calculated here.
5. Does repaying early reduce the interest?
Yes. Since interest is calculated per day, repaying the overdrawn amount earlier reduces the total interest.
Disclaimer: Overdraft interest results are estimates for informational purposes only. Actual interest and charges are determined by your bank as per its terms. CibilBazaar is a loan marketplace and is not a bank or NBFC. Please verify the latest information with the relevant bank or NBFC before submitting your application.
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