Whether interest on overdraft charged on monthly basis
This query is : Resolved
25 January 2025
whether interest on overdraft is charged on Monthly basis.
whether may be on 31st March Dr. Balance or Cr. Balance.
And what would be the accounting group if Dr. and Cr. Balance on 31st March.
whether may be on 31st March Dr. Balance or Cr. Balance.
And what would be the accounting group if Dr. and Cr. Balance on 31st March.
26 January 2025
Yes, most of the banks charge monthly.
The group remains same as Bank overdraft account.
The group remains same as Bank overdraft account.
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