Hi
I had a small query:
Do banks charge interest on unutilised overdraft limit as well?
Thanks in advance.
3 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195438 Points)
Replied 03 April 2017
Usually not, unless any terms of minimum interest in contract.
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 04 April 2017
Banks always charge on unutilised overdraft limit the objective is have you not blocked such limits of credit it can be better utilised for others who need the credit facilites
Ajit Hegde
(CA - Final)
(1367 Points)
Replied 04 April 2017
Nationalised banks do not charge usually. Private banks do.
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