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| Corporate Banking » Secured Overdraft (OD) |
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| Secured Overdraft (OD) |
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Overdrawing permitted by the bank in current account is termed as an overdraft facility.
Advances in the form of overdraft is allowed in Current Account operated upon by cheques. The Customer is sanctioned a certain limit up to which he can overdraw his current account within a specified period. Withdrawals and deposits can be made any number of times at the convenience of the borrower provided that the total amount overdrawn dose not at any time exceed the agreed limit.
Interest is calculated and charged only on the actual debit balances on daily product basis and applied to customer�s account at quarterly rests.
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| For any query please Contact at: Tel: (PABX) 02223381614 FAX: 880-2-9564009 or e-mail us at [email protected] |
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