Will the interest be charged on the limit given

May 6th, 2010 by rupeetalk.com

An overdraft account has a specific limit. The interest is however charged only to the extent the overdraft limit is utilised and also for the period it is utilised. This is a big relief for the businessmen and entities because they will be paying only for the time and amount for which the usage is present.

Published on May 6, 2010 · Filed under: Business Loan FAQs; Tagged as: Business Loan FAQs, Cash Credit, Overdraft, Overdraft limit

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