Diff. between bank od a/c. and cash credit a/c.

This query is : Resolved

Share Report Follow Query Ask a Query

E. SATHISH

E. SATHISH (Querist)
Follow

25 September 2012 Pls explain me about the Bank OD & Bank CC A/c.

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
Follow

25 September 2012 Both are banking facility, you can make use of it..od - you can get against your deposit and assets..cc - you can get only on your assets.depends upon your requirement and your holdings (securities) you can get it from the bankers.

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
Follow

25 September 2012 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.

Message likes : 1 times

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

25 September 2012 agreed with Ayush ji

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

mohammad.asraf

yogesh korani

xavier

sinu kurian

SHIBSANKAR DEY

Subscribe Now

Diff. between bank od a/c. and cash credit a/c.

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

GST CONSULTANCY

CA Final

GST CONSULTANT

Accountant

Manager- Finance and Compliance