Hi
I had a small query:
Do banks charge interest on unutilised overdraft limit as well?
Thanks in advance.
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Query
Replies (3)
Usually not, unless any terms of minimum interest in contract.
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
Nationalised banks do not charge usually. Private banks do.
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