LAP OD Scheme
A Federal Bank overdraft against property for businesses, used for stock, running costs and supplier payments without monthly stock statements.
Last updated on
Not yet confirmed. The details on this page are based on Federal Bank, LAP OD Scheme (external site) (official website) and Federal Bank, How LAP OD works (external site) (official website), and we have not been able to confirm them against a current official page. Check with The Federal Bank Limited before you rely on them.
- Status
- Open
- Run by
- The Federal Bank Limited
What you get
- Overdraft against property with no need to submit stock statements
- For buying stock, covering running costs and paying suppliers
- Limits above ₹10 lakh and up to ₹50 lakh
- Interest is charged only on the amount actually drawn, according to the bank's explainer page
Who can apply
- Businesses that are already running.
- Open to businesses in manufacturing, trading and services.
- The most on offer is ₹50 lakh.
- Open to individuals, self-employed professionals, firms and companies in manufacturing, trading or services
- Contractors cannot borrow under this product
- Needs residential or commercial property as security
How to apply
- Apply online through the Federal Bank MSME portal, which also lets you track the application
- Or download the MSME loan application form with its checklist and hand it in at a branch
In person, any Federal Bank branch, where you can also hand in the printed MSME loan application form
In Kerala, any Federal Bank branch, or the Federal Bank MSME portal online
Where we found this
An independent guide by The Company of Four, not a government website. Schemes change often, so check every detail on the official website before you apply. Links marked ↗ open external websites that we do not run, and we are not responsible for their content. Seen something out of date? Tell us and we will look into it.