Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Overdraft and business loan

This query is : Resolved 

if i avail overdraft and business loan on proprietorship current account (abcd name) from bank then

a) can i continue using existing current accounts with other banks in same name (abcd)?
b) if I become nri then will it be possible to continue that od and loan?
c) what affect od will make on my personal banking or any other current account with different name or same name?

a yes you can do so.
b yes you can continue.
c It will affect your credit rating, PAN will be the same

but sir isn;'t there a rule which says that if you have od from any bank you cannot open any new bank account. is that so?

what are other banking effects?

With the consent of the bank for operative reasons we can open current account with other banks.

thank u so much sir.

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

Similar Resolved Queries