Product Overview
Product summary
Canara My Money OD Against FD from Canara Bank offers overdraft for business liquidity.
Supporting evidence
Verified from: Canarabank.pdf
Data confidence
70% — Medium
Data completeness
70/100
Last updated
9 Aug 2026
Founder verified
Yes — Founder Certified
Source of information
Official PDF
Product confidence: Medium
Intelligence Assessment
Personal Fit · Negotiation · Before You Decide
Personal Fit
NOT ASSESSEDPersonal suitability not assessed yet
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Check Your Personal FitBefore You Decide
CHECKImportant things to verify before applying
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Canara Bank
Canara My Money · OD Against FD
Personal Loan
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Evidence & Verification
Verified From
Evidence Status
Verification Date
Last Updated
Founder Certified
Official Source
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RightBank Verdict
Canara My Money OD Against FD from Canara Bank offers overdraft for business liquidity.
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Check Your Personal FitProduct Quality Scorecard
9%–11% p.a.
Standard fees
₹0.5L – ₹10.0L
Up to 5 years
Disbursal timeline not specified
Verified by RightBank
Complete your profile for a personal Fit Scorecard across income, balance, usage, lifestyle, eligibility & goal.
Check Your Personal FitWhat You Get
Pay interest only on usage
Interest on utilised amount only
What It Costs You
Charges
Before You Apply
Eligibility
Canara Bank FD holders. OD against Fixed Deposit. Max ₹10 Lakhs. Rate: TD Rate + 2%.
Collateral
Collateral may be required
Why This Product May Be Worth Considering
Interest only on utilised amount
If You Do Not Choose This
What to weigh before you decide — trade-offs and who this account may not suit.
Who should avoid
Customers needing a fixed-term loan
Customers without collateral when required
Trade-offs
Credit Line Usage
Interest on Utilisation
9% – 11% p.a.
Working Capital
Cash Flow Management
Costs to consider
Interest on utilisation
9% – 11% p.a.
Processing fee
1% + GST
Customers Usually Compare This With
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Final Decision Summary
Canara My Money OD Against FD from Canara Bank offers overdraft for business liquidity.
Derived from certified Product Truth — not generative AI.
Calculator
Indicative calculation for planning only. Actual figures depend on bank terms, your profile and prevailing rates.
Estimates are indicative. Final figures depend on bank terms and your profile.
Understanding the Terms
FOIR
Fixed Obligation to Income Ratio — existing EMIs as a share of income.
Processing Fee
One-time fee (often 1–2.5% + GST) to process the loan.
Foreclosure
Closing the loan early; many banks charge 2–4% after 12 EMIs.
Prepayment
Part-paying early; rules vary — check before assuming it’s free.
Flat vs Reducing
Flat rate looks lower but costs more; reducing rate is the true effective rate. RightBank scores the real cost.
EMI
Equated Monthly Instalment — fixed monthly payment of principal + interest.
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