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Electronic Card For Overdraft Account

In 2020, the Reserve Bank of India (RBI) allowed scheduled commercial banks to issue electronic cards to customers holding overdraft accounts. These accounts must be classified as personal loans without any specific end-use restrictions.

Updated On - 05 Sep 2025
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Electronic Card For Overdraft Account

  1. Card Varient: Standard and Platinum
  2. Type of Card: Contactless Debit Card
  3. Issued in Account: Overdraft -personal loan
  4. Usages: 
    1. International usage on the card is disabled from backend
    2. The customer cannot enable it with Switch On / Switch Off facility.
    3. Cash withdrawal is disabled.
  5. Cash Limit at ATMs (daily): NIL
  6. Daily Purchase Limit at PoS/E-com:
    1. Standard: Rs. 75,000
    2. Platinum: Rs.2 lakh
  7. Issuance Fee: NIL
  8. Annual Maintenance Charges (AMC): 
    1. Standard: Rs.125 plus GST
    2. Platinum: Rs.250 plus GST
  9. Replacement fee: Rs.300 plus GST
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FAQs on Electronic Card for Overdraft Account

  • Will I receive a one-time PIN for my electronic overdraft card?

    Yes, a 4-digit auto-generated PIN will be sent via SMS, IVR, SBI ATMs, or internet banking for every transaction.

  • Can I use my electronic card for international transactions?

    No, international transactions are disabled on this card as per RBI guidelines.

  • Can I withdraw cash using the electronic overdraft card?

    No, cash withdrawal is not allowed on this card.

  • What is the use of an electronic card linked to an overdraft account?

    An electronic card linked to an overdraft account allows users to make purchases using the approved overdraft limit, functioning similarly to a debit card but with access to credit.

  • Is an electronic overdraft card the same as a debit card?

    No, while both look similar and are used for transactions, an electronic overdraft card is tied to an overdraft facility, meaning you use borrowed money, unlike a regular debit card which uses funds from your savings or current account.

  • Are there any annual or maintenance charges for electronic overdraft cards?

    Yes, most banks charge annual maintenance or issuance fees for electronic overdraft cards. These vary by bank and card type.

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