WILL ICICI OD AGAINST FD REPORTED BE REPORTED TO CIBIL?

[rextg]

I have taken OD Against Fd (very less interest rate 6.4%)after closing my fd card since I got Amazon pay and ltf coral rupay to build good credit profile(currently 782 cibil).Will it be reported to credit bureaus as a secured loan?

 

[Lobogris]

I have taken OD Against Fd (very less interest rate 6.4%)after closing my fd card since I got Amazon pay and ltf coral rupay to build good credit profile(currently 782 cibil).Will it be reported to credit bureaus as a secured loan?

Yes. I tried it with RBL and it was reported as an overdraft account.

 

[s1t2y3a3m6]

I have taken OD Against Fd (very less interest rate 6.4%)after closing my fd card since I got Amazon pay and ltf coral rupay to build good credit profile(currently 782 cibil).Will it be reported to credit bureaus as a secured loan?

Yes, bank reported

 

[VasukiVasuki is verified member.]

I have taken OD Against Fd (very less interest rate 6.4%)after closing my fd card since I got Amazon pay and ltf coral rupay to build good credit profile(currently 782 cibil).Will it be reported to credit bureaus as a secured loan?

Y e s

Reported when i did in back in 2021 for icici bank

 

[KunalJ]

What will be cibil score hit if taken OD against MF/Shares

 

[VasukiVasuki is verified member.]

What will be cibil score hit if taken OD against MF/Shares

Any od will be reflected as secured loan ..
Not much impact ..
Moreover good impact

 

[sidpsidp is verified member.]

Yes OD are always reported to cibil. Either as personal loan or secured loan depending what you opted for.
But with OD your focus shouldn't be on cibil, rather on t&c. Many times there are hidden charges. Even stacked charge where they charge more as time passes.

 

[sidpsidp is verified member.]

Any od will be reflected as secured loan ..
Not much impact ..
Moreover good impact

It depends. There are option to opt OD in savings account also. They are reported as personal loan.

 

[SSV]

I have taken OD Against Fd (very less interest rate 6.4%)after closing my fd card since I got Amazon pay and ltf coral rupay to build good credit profile(currently 782 cibil).Will it be reported to credit bureaus as a secured loan?

I had done this..
It will be reported as an Unsecured OD, even though it shows as od issued against FD.

Absolutely no use in help improving the score.

 

[jetesh]

Yes. I tried it with RBL and it was reported as an overdraft account.

Which variant or credit card do we usually get in RBL against FD?

 

[DosaOP]

Hi everyone,
My mom holds a proprietorship firm and we have an od issued agaisnt fd in idfc,for unknown reasons it is showing as a loan on cibil(which i think is ok as many people above got the same) but the major issue is with the late payment remarks of around 90days min some even 120days for approx 1.5years(recently checked mom’s cibil and found this) visited branch multiple times spoke with manager he said we haven’t done the interest payment on time,but its an auto debit for interest and in statement its being shown tht its debited on the last day of each month.
When i informed him tht we hold a similar od against fd in sbi of a much higher amount and its not reported in cibil for any defaults of anything.
I mailed him last week saying i will have no choice but to escalate to higher authorities if i dont get a satisfactory solution but he repeated the same in mail.
Ps- we have no transactions in that account except for 1-2 months but we have withdrawn around 70% of the fd
And after visiting the branch now i can see that two different amounts are being reported against the same account number on cibil.
Pl give ur suggestions for further action

 

[jetesh]

Bro, OD are always reported to cibil.

 

[DosaOP]

Bro, OD are always reported to cibil.

Yea thats ok
But what should i do for the late payments? Like manager isnt unable to help to resolve this with satisfactory answers