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Business Type
Service Provider
Preferred Buyer From :
India only
Overdraft is an extention from financial institution when an account reaches zero. In this situation the bank covers cheques which would otherwise bounce. As per the bank records the bank decides on the authorized overdraft limit and the interest charged at the agreed rate. The maximum overdraft limit is sanctioned by the bank and is agreed upon by the customer. The excess amount withdrawn is charged interest upon and must be settled by the customer on demand from the bank.