cc & od
This query is : Resolved
22 February 2009
what is cash credit. is their any difference between cash credit & bank overdraft?
22 February 2009
Cash credit is given on hypothication of debtors or stock and overdraft means the loan is given based on fixed deposit or immovable property. The nature of security will not change in the case of overdraft. In the case of od the security head will remain same like stock or debtors it is moveable and changes from time to time.
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