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Strengthen your services with smart SynoFin Overdraft Management Solutions

Easily configurable, compatible, and manageable with multiple channels and responsible for setting overdraft limits

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Processing Overdrafts Using The Most Configurable Software

Overdraft is a credit feature provided by banks and NBFCs that allows you to withdraw an amount at any time and repay it as per convenience. Banks and NBFCs face a risk of a decrease in the limit when setting overdrafts limits for customers.

The financial costs and potential regulatory implications make overdraft management one of the most challenging areas of financial services. SynoFin software automates the entire process from opening the overdraft to periodic interest application, limit increment, renewals, and closure.


Why choose SynoFin for Overdraft Loan?

Our custom-built lending solutions provide features for every kind of demand, whether you manage a small financial institution or a bank. SynoFin lending solutions provide the best way to manage data, set reminders for loan repayment schedules, and advance tracking functionality for banks and NBFCs. Here are the features below:

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Automated Process

End-to-end automation process

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Seamless Integration

Seamless integration with other systems

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Intelligent System

Generates systematic reports and tracks excessive overdrafts and various charges

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No Paperwork

Elimination of paperwork procedures

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Customized and flexible offerings

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User Interface

Intuitive user interface reflects all OD-related transactions

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SynoFin Offerings for Overdraft

CRM System

Customer Relationship Management (CRM) System for handling various types of service request workflows

BI Dashboards

Business Intelligence (BI) Dashboards for better insights in your business

CAS System

Credit Assessment Software System


Loan Origination System


Loan Management Software

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Obtain hassle-free business overdraft from SynoFin solutions

SynoFin software automates the entire process from opening the overdraft to periodic interest application, limit increment, renewals, and closure. The extensive capabilities of the SynoFin overdraft management software enable financial institutions to effectively manage their risk exposure.

Customer Testimonials

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Frequently Asked Questions

  • Does your software allow 3rd party Integrations?
    Different financial institutions that provide their clients with financing services have their digital needs met by SynoFin. By getting information from any third party, including both public and commercial entities, via APIs, you may rapidly decide whether to approve a loan application.
  • Does the SynoFin Loan management system applicable for all types of Commercial Vehicle loans?
    Both 2-wheelers and 4-wheelers can benefit from Synofin loan management software. SynoFin Loan management software was developed with highly scalable, flexible, and integrated software pieces to make the lending process efficient and manageable.
  • Is the Software Configurable?
    The SynoFin loan origination software system takes into account your unique process requirements. It powers workflow so that lending experts can customise the procedure to meet their specific needs without having to know programming. They can also make changes quickly as needed. Even after the programme has been installed, you have the opportunity to adjust the system and add new rules or exceptions.
  • What are the offerings of SynoFin for Equipment Financing Solution software?
    SynoFin offerings for equipment financing are: Credit Assessment Software System Loan Management Software Customer Relationship Management (CRM) System for handling various types of service request workflows Business Intelligence (BI) Dashboards for better insights into your business Loan Origination System
  • What is Equipment Financing?
    Equipment financing is a type of credit instrument that enables you to pay for all of your company's equipment and machinery-related needs. You can swiftly purchase, lease, upgrade, or repair equipment by using machinery loans.
  • How does SynoFin help Equipment financiers?
    You may develop effective chances for equipment finance sales using SynoFin. Our state-of-the-art technology is transforming the loan process by quickly assessing applications and managing accounts based on adaptable business rules. Easily integrate with any type of system Streamline and automate processes with digital transformations Get a real-time view of accurate data and a single view of all your customers Eliminate human errors and operational inefficiencies Automated calculations of interest Single unified Interface Simplified tracking and reporting
  • Can we customize the software?
    Yes, your particular process requirements are taken into account by the SynoFin loan origination software system. It drives workflow so that lending professionals can modify the process to suit their unique demands without having any programming knowledge. They can also quickly adjust as necessary. You still have the option to modify the software and add new rules or exceptions once it has been installed.
  • How does SynoFin provides an effective solution for Subvention?
    For Financial Institutions that specialise in loan services, SynoFin Subvention is a cutting-edge technology solution. SynoFin offers a range of softwares for subvention which includes Loan origination system, Loan management system, Credit assessment software system, CRM and Business Intelligence dashboard.
  • What are the unique features of SynoFin Subvention solution software?
    The simplest way to handle data, schedule reminders for loan repayment schedules, and provide advance tracking tools are all provided by SynoFin lending solutions. The characteristics are as follows: Complete automation procedure Integrated seamlessly with other systems Produces organized reports and checks up on excessive overdrafts and different charges Elimination of administrative processes Customized and flexible offerings The intuitive user interface reflects all OD-related transactions.
  • What documents are required to apply for a loan?
    KYC document - Pan card Proof of residential address (any one) Banking - Last 6 months of bank statement of current account Business KYC Financial documents (For loans greater than 20 Lakhs)
  • How can I use Flexiloan?
    Flexi loans come with flexible end-usage and can be availed to meet any personal financial need.
  • What is the duration and mode of repayment?
    The repayment terms are very flexible and can vary from weekly to monthly payments. We collect PDCs, ECS form/NACH mandate via which your account will be automatically debited on due date.
  • How much time does it take to get a loan against property sanctioned?
    If everything falls in place, it will just take 7-10 business days. Some lenders may do the disbursement earlier than this period, depending upon fulfilling their criteria and their policies. But delay in loan disbursal are often caused due to borrower’s inability to provide documents required by the lenders.
  • What types of property can you mortgage to take a loan against property?
    Loan against property is given on different types of property be it commercial or residential. Lenders offer loan on Self occupied residential property. Self occupied commercial property. Leased residential property. Leased commercial property. Lease rental discounting against commercial property. Loan is also given to purchase a commercial property.
  • Can I repay the loan ahead of schedule?
    Yes. Prepayment is possible and there is no prepayment fee if you repay the loan after six months of availing the loan if you pay from your own source of funds without transferring the loan.
  • Does CIBIL matters in loan against property?
    Yes, CIBIL score is an essential factor in determining your creditworthiness. A good credit score makes you reliable in the eyes of the lenders and it will enhance the chances of your loan approval. The minimum CIBIL required is 600 (but this varies as per the lender’s policies).
  • What is a credit card?
    With a credit card, the holder can borrow money from the financial organization that issued the card, which is often a bank. According to the terms set forth by the institution, cardholders consent to pay the money back with interest.
  • How SynoFin help Credit card provides?
    The credit card journey procedure is made simple for everyone by SynoFin. We contribute to the growth of the credit card industry by offering a streamlined application procedure and immediate approvals. Offerings of SynoFin for credit card providers are: Credit Assessment Software System Loan Management Software Customer Relationship Management (CRM) System for handling various types of service request workflows Business Intelligence (BI) Dashboards for better insights into your business Loan Origination System
  • How SynoFin credit card solution software is better?
    SynoFin utilizes AI-powered technology that eliminates the need for human intervention to quickly onboard additional people and to do swift instantaneous checks, validations, and verifications. The features that make it better are: API integration with other systems enables instant onboarding Extensible architecture and interactive user interface Enhanced customer service with reduced processing time Advanced security features and highly configurable Complete digital verification Innovative and customized offerings Easy management & tracking of reports
  • What are the benefits of a gold loan?
    A gold loan offers many benefits when compared to other types of loans. Gold loan benefits include faster processing time, higher loan to value ratio, lower interest rates, the convenience of availability of the collateral, faster loan disbursal, and relaxed eligibility criteria. Based on the lender, you may also enjoy other benefits like a waiver on the processing fee and insurance cover.
  • What is a gold loan?
    A gold loan is a loan in which the borrower offers a certain amount of gold against a loan amount for a certain period of time. This works like a normal secured loan in which the gold acts as collateral or asset.
  • What are SynoFin offerings of working capital financing to banks and NBFCs?
    Among SynoFin's services for working capital loans are the Credit Assessment Software System, LMS, Customer Relationship Management (CRM) software for managing various service request workflows, and Business Intelligence (BI) dashboards for enhanced company insights.
  • How long does working capital finance last?
    A brief loan is a working capital finance loan. It is mostly used to control a business's operating costs. The loans are typically available for 12 months. Therefore, the requirements vary on the lender. additionally the borrower's needs.
  • What advantages does working capital financing offer?
    The main advantage for borrowers is that it evens out fluctuations in business cash flows. and swiftly processes financing as a result. Flexible repayment options are available for the working capital instruments. Therefore, it benefits the borrower.
  • What is an Overdraft Loan?
    A credit facility or instrument known as an overdraft loan enables you to withdraw money from your bank account even if there is no money in the account. When you use the overdraft facility, the bank charges interest, just like with any other credit service. These overdraft limitations typically come with a fixed interest rate from the banks.
  • How does an Overdraft Loan work?
    Overdrafts are often provided based on the balances of your accounts, pre-approved loan offers, and collateralized assets such as bank FDs, shares, and bonds. It functions quite similarly to a sanctioned loan. You can take money out of your account as needed, and interest is paid when it is due. In an overdraft, you have the flexibility to pay back the borrowed funds at any time, in full or in part. You can withdraw money from your account again as needed up until the overdraft limit is reached after paying back whenever you have money.
  • What are the unique features of SynoFin Overdraft solution software?
    For banks and NBFCs, SynoFin lending solutions offer the easiest approach to handle data, plan reminders for loan payback schedules, and give advance tracking features. The following are the features: End-to-end automation process Seamless integration with other systems Generates systematic reports and tracks excessive overdrafts and various charges Elimination of paperwork procedures Customized and flexible offerings The intuitive user interface reflects all OD-related transactions
  • What services do SynoFin offer to Microfinance institutions?
    The SynoFin solution offers a practical, technologically advanced, and economically advantageous digitized method of delivering microfinance services. SynoFin offerings are: Credit Assessment Software System Loan Management Software Customer Relationship Management (CRM) System for handling various types of service request workflows Business Intelligence (BI) Dashboards for better insights into your business Loan Origination System
  • What is a Microfinance Institution?
    A microfinance institution (MFI) is a company that offers financial services to the underprivileged, including insurance and microcredit. All MFIs have in common the fact that they offer these services to a clientele that is not typically eligible for official financial services.
  • What is microfinance?
    Microfinance refers to a range of reasonably priced financial services that are aimed at low-income clients, especially women, who are either at or below the poverty line. Giving these clients access to microcredit for income-generating ventures, savings and insurance, and remittance services, seeks to empower them.
  • Which banks and NBFCs are the best for a personal loan?
    Many NBFCs and all of the top banks offer personal loans (non-banking financial companies). IndusInd Bank, Citibank, Axis, Fullerton India, Capital First, State Bank of India and Associates, Indian Bank, Karnataka Bank, Standard Chartered Bank, and many others are some of the top lenders of personal loans.
  • What does SynoFin provide for the process of personal loans to banks and NBFCs?
    Credit Assessment Software System, LMS, Customer relationship management (CRM) software for managing various service request workflows, and business intelligence (BI) dashboards for greater company insights are among the SynoFin offerings for personal loans.
  • What are the key steps in the personal loan approval process?
    The loan sanctioning officer has the exclusive discretion to approve or deny the loan, and he or she grounds that choice on the standards laid out by the bank or financial institution. The complete process can take anything between 48 hours and two weeks. The loan is disbursed by the bank within seven working days after all the required paperwork has been filed and the verification process is finished, assuming that it has been approved. Keep all required paperwork on hand, along with the post-dated checks (PDC) and/or the signed Electronic Clearing System form, to prevent delays in loan processing and payout.
  • How do I choose the bank or financial institution from whom to borrow money?
    Before settling on a certain supplier, it is always a good idea to evaluate the offers of other banks. To identify the loan option that best suits you use online tools like the loan eligibility calculator and personal loan EMI calculator. Interest rates, loan terms, processing costs, and other important considerations should all be taken into account when choosing a loan provider.
  • The Co-lending arrangement benefits the lender in what ways?
    The Co-Lending Model increases credit flow to the economy's unserved and underserved sectors and makes money readily available at a reasonable price. This concept combines the advantages of NBFCs' broad reach with banks' cheaper funding costs.
  • Can two NBFCs do Co-lending?
    The Reserve Bank of India (RBI) has also made it possible for banks to collaborate with NBFCs to lend money to the priority sector, creating new opportunities for collaboration. Banks are now allowed to co-lend with all registered NBFCs, including housing finance businesses, an improvement over September 2018, when the co-lending first began.
  • What is a Co-lending agreement?
    In order to benefit from each party's strengths, two organizations—an NBFC and a bank—come together in a co-lending agreement.
  • Which banks provide Co-lending services?
    The list of banks is: State Bank of India Union Bank of India Central Bank of India IndusInd Bank Yes Bank Punjab National Bank Bank of Baroda
  • What benefits does the co-lending arrangement provide to the borrower?
    The Co-Lending Model enables borrowers to obtain loans at rates that are both highly reasonable and competitive.
  • Does SynoFin Loan management system is applicable for all types of Vehicle loan?
    Synofin loan management software can be suited for both 2 wheeler and 4 wheeler vehicles. In order to make the lending process effective and manageable, SynoFin Loan management software was created with highly scalable, configurable, and integrated software elements
  • Does your software require manual filling of forms?
    No, SynoFin software provides complete system-generated forms. One can fill all the forms digitally and there is no requirement for manual filling of forms
  • Is the Software Configurable?
    SynoFin loan origination software system addresses your specific workflow needs. It drives workflow that gives lending professionals the ability to configure the process (no programming required) to their unique requirements, and easily make modifications as needed. It provides the option to configure the system and add new rules or exceptions even after you’ve installed the software.
  • Does your software allow 3rd party Integrations?
    SynoFin meets the digital needs of different financial institutions that offer their clients financing services. Through the use of APIs, you can quickly decide whether to approve a loan application by obtaining data from any third party, including both public and private organizations.
  • How long does integration take place?
    Integration can be achieved in as little as 3 weeks and usually 1.5 months is sufficient. SynoFin however has the fastest time to market – it can go-live in as little as 1 week from signing using manual integration, while IT integration can be carried out in parallel.
  • What are the advantages of Supply chain financing software?
    The entire supply chain process has become seamless with our supply chain finance software. We provide you with unique features which make the lending process more efficient. Features that make us unique are: Truly integrated suite of products Mobility app for Sales and Credit New age Loan management software Delinquency management Configure for Co-Lending Web-based system for Operations and Credit GL management in LMS Web-based system for customers - Anchor/Spoke Pre Integrated Accounting system Thus, this helps in faster lending decision and loan lifecycle management leading to better business growth with the correct Supply Chain Financing Software
  • What is Supply Chain financing?
    Supply chain finance enables buyers and suppliers to optimize their work capital by reducing the risk of disruption. It is also called reverse factoring. It can also be defined as a set of technology-based business and finance processes that brings down the costs and enhance the efficiency of the parties involved in any transaction. It works best when the buyer has a more acceptable credit rating than the seller and can thus access capital at a lower cost. The Supply Chain Loan Servicing platform takes care of the: Payments Modifications Collection Analytics A Supply Chain Finance Platform takes into consideration the complex workflow of Purchase Order or Invoice validation, buyer limits, supplier limits and integrates with payment processors and user account portals to provide a holistic solution.
  • How does Supply Chain Financing Work (Workflow):
    Step 1: Ordering from supplier Step 2: Supplier fulfills the order, and invoices the buyer. Step 3: Buyer approves the invoices, and confirms to the financial institution of payment at maturity Step 4: Supplier sells (at a predetermined discount rate) to financial institution Step 5: Supplier receives the fund right away Step 6: Buyer pays financial institution as agreed at maturity of invoice
  • Is buy now pay later an installment loan?
    Yes, Buy now pay later is a type of installment that you can pay through EMIs. After some time, interest will be charged which is spent by you, and in case you fail to pay within the specific period, the penalty is charged.
  • Does BNPL affect credit?
    Yes, it does. As long as you repay the amount on time, your credit score will not be impacted. If you clear the amount on time, your credit score is likely to improve. However, if you miss or delay your payments, then your credit score will fall.
  • Who are the top BNPL players in India?
    Simpl Zest Money Lazy Pay Paytm Postpaid Amazon Pay Later Flipkart Pay Later
  • Are banks offering buy now pay later loans?
    Some of the banks offer to pay later loans. These banks are Axis Bank Kotak Mahindra ICICI Bank etc.
  • Do you pay interest on buy now or pay later?
    Yes, you will have to pay interest on BNPL. The interest charged depends on various factors such as the amount spent, repayment tenure, credit score, etc. Initially, there is a credit-free period offered by some companies. If you manage to repay the amount within that period, you will not be required to pay any interest on it
  • Do education loans have any Income Tax benefits?
    Loan borrowers can avail of tax benefits on interest paid on education loans under Sec 80E of the Income Tax Act. This benefit is available over and above the Rs. 150,000 deductions allowed under Section 80C. Tax benefits can be availed once the borrower starts paying the interest on the education loan. Further, the deduction is available until the borrower pays off the full interest amount on the loan or for a maximum period of 8 years, whichever is earlier.
  • Does an education loan require security or collateral?
    The requirement of collateral varies from one bank to another, however, the following is generally common parameters are : No collateral or third-party guarantee is needed for loans under Rs. 4 lakh. Collateral is not necessary for loans between Rs. 4 lakh and Rs. 7.5 lakh, but a third-party guarantee is required. Collateral is required for loans worth more than Rs. 7.5 lakh.
  • Can a student avail of another loan for further studies? When will the repayment of the new loan commence?
    Yes it is possible. You can take a loan for your bachelor's and then a loan for your master's without having to pay back the previous debt.
  • Is there a maximum limit on an education loan that a lender can disburse?
    For studies within India, the majority of lenders have a maximum restriction of Rs 10–15 lakhs, whereas the highest limit for education loans for studies abroad is between Rs 20–30 lakhs. If bank-accepted collateral is presented, certain lenders will grant a larger loan amount for the applicant.
  • Is the loan disbursed in favor of the borrower or the institute/college/university?
    According to the institute's schedule and cost structure, the tuition and hostel fees are paid directly to the organisation, typically in the form of a drafts. The loan applicant may claim and receive additional loan components such as course-related costs for lab equipment, a laptop computer, a uniform, and travel expenses.
  • How does the Repayment Schedule Work?
    Generally, financial institutions don’t expect to do repayments for the loan during the course of the program. Generally, all education loans provide a moratorium durationwhilethere may be no want to pay anything to the bank. The repayment commonlybegins off evolving six to 12 months after the course completion.
  • Who can avail of an education loan?
    Educational loans are available to students who pursue higher studies across the country. Each bank has different policies for providing loans to students taking different courses. Banks offer educational loans for management, engineering, law, architecture, medicine, applied sciences and pure sciences, and nursing.
  • Who is eligible for an education loan?
    Every bank has its own eligibility criteria for providing education loans, but a few common points are: Applicants must be a resident of India. Applicants should have confirmed admission to a college/educational institution in India or abroad. The age of the applicant must be between 18 to 35 years. The Applicant should have a co-borrower such as a parent who acts as a guarantor for the loan.
  • What is the tenure of an education loan?
    For the majority of lenders, the average loan term is between 5-7 years. For larger loan sums, certain lenders may provide a longer term of up to 15 years.
  • Is the LMS System User-Friendly and Modern?
    SynoFin LMS offers a one-stop solution for all your training needs. They are easy to use, deploy, and most importantly are user-centric. A better and holistic end-to-end loan management solution like that of SynoFin will greatly enable in digitally managing the lending solution portfolio. It also offers bank statement analysis, credit bureau data analysis, and document analysis services as its verticals
  • How to check home loan eligibility?
    The home loan eligibility of an individual depends on their credit worthiness, determined in terms of the norms and standards of banks. The potential borrower has to go thorough various stages of credit appraisal process of the Bank.
  • What are the types of home loans available?
    Lenders offer home loans, not only for buying a house but also for a variety of other purposes. Some of the popular types of home loans available in the financial market are described below: Loans for Land Loans for Construction of a House House Expansion or Extension Loans Loans for Home Purchase
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