Cash credit and overdraft
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 April 2014
pls tell me common points and difference between cash credit and overdraft.
02 April 2014
Difference between an Overdraft and Cash Credit
The main points of difference between an overdraft and cash credit are as follows.
(1) Overdraft is a temporary arrangement and is usually for a very short period. The cash credit on the other hand is a borrowing on a comparatively long term and on regular basis.
(2) Overdraft facilities are allowed in current account only. Cash credit needs opening a separate cash credit account.
(3) The rate of interest on overdraft is relatively lower but on cash credit it is higher.
The main points of difference between an overdraft and cash credit are as follows.
(1) Overdraft is a temporary arrangement and is usually for a very short period. The cash credit on the other hand is a borrowing on a comparatively long term and on regular basis.
(2) Overdraft facilities are allowed in current account only. Cash credit needs opening a separate cash credit account.
(3) The rate of interest on overdraft is relatively lower but on cash credit it is higher.
02 April 2014
Difference between an Overdraft and Cash Credit
The main points of difference between an overdraft and cash credit are as follows.
(1) Overdraft is a temporary arrangement and is usually for a very short period. The cash credit on the other hand is a borrowing on a comparatively long term and on regular basis.
(2) Overdraft facilities are allowed in current account only. Cash credit needs opening a separate cash credit account.
(3) The rate of interest on overdraft is relatively lower but on cash credit it is higher.
The main points of difference between an overdraft and cash credit are as follows.
(1) Overdraft is a temporary arrangement and is usually for a very short period. The cash credit on the other hand is a borrowing on a comparatively long term and on regular basis.
(2) Overdraft facilities are allowed in current account only. Cash credit needs opening a separate cash credit account.
(3) The rate of interest on overdraft is relatively lower but on cash credit it is higher.
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 April 2014
sir
pls some more points.
pls some more points.
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