An overdraft facility provides extra flexibility when you need it most. It is an ideal way to handle those short-term changes in the cash flow and avoid unnecessary charges for being over your limit. Once you have this credit facility on your current account, you can overdraw up to an agreed limit and use your overdraft for any purpose.
|Interest Rate:||Base rate + up to 5 % p.a||9.5 – 14 %|
|Maximum availed amount||Unlimited||Unlimited|
|Unauthorised Overdrawing||Normal lending rate plus 5% p.a.||Normal lending rate plus 5% p.a.|
Note: A penalty charge of 5% p.a. above the approved interest rate will be levied on excess on overdraft accounts.
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