MSME-Business Loans
Overdraft (O.D) is a type of financial instrument provided by banks and financial institutions to borrowers as an extended credit facility to meet business or personal requirements. Generally, banks allow the O.D facility up to an agreed limit when the main account balance reaches zero. The O.D loan can be either secured or unsecured and is primarily used for short-term cash requirements or temporary financial needs. The loan amount and interest rate depend on the borrower’s credentials and repayment capacity and may vary from bank to bank. Depending on the borrower’s requirements, several O.D loan products are available through banks and financial institutions.
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