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Intrest Rate ON OD and CC Limit

This query is : Resolved 
 


Querist : Anonymous (Querist) 14 August 2010

Dear Sir,
Please Tell me what is rate of Intrest on CC Limit and Over Draft .


CA. BIJENDER KR. BANSAL (Expert)
14 August 2010

RATE OF INTEREST ON CC LIMIT AND OVERDRAFT IS DEPEND ON FINANCIAL DATA OF CLIENT.
IF HIS FINANICAL DATA CONTAIN GOOD RATIO, GOOD SALE, GOOD PROFIT MARGIN, IT MAY BE LESS THAN GENRAL CLIENT.
BEFORE BASE RATE SYSTEM , BPLR SYSTEM IS BASE FOR RATE OF INTEREST ON CC LIMIT AND OVERDRAFT.

RATE IS ALSO DIFFER BANK TO BANK.
NORMAL RATE OF INTERST ON CC LIMIT AND OVERDRAFT IS 12% .
IT MAY BE HIGHER ACCORDING TO CLIENT RATING.



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