Can some one tell me what is the difference between the Bank Overdraft and Bank Overdraft loan?
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Difference between bank overdraft and bank overdraft loan
Replies (2)
For a bank overdraft, you should have an account with the bank and it is a limit on borrowing on a bank current account. With an overdraft the amount of borrowing may vary on a daily basis.
A bank loan is a fixed amount for a fixed term with regular fixed repayments. The interest on a loan tends to be lower than an overdraft.
M Veerabhadrappa
Finance Manager (Ex-) Hindustan Fluorocarbons Limited,
Hyderabad,
And what is the difference b/w Bank O/D limit and CC Limit...please clarify..
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